Ronald J. Artinian - Sep 10, 2024 Form 4 Insider Report for FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY (FREVS)

Role: Chairman of the Board, Director
Signature: /s/ Ronald J. Artinian
Stock symbol: FREVS
Transactions as of: Sep 10, 2024
Transactions value $: $7,500
Form type: 4
Date filed: 9/12/2024, 09:45 AM
Previous filing: Mar 26, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FREVS	Common Stock, par value $0.01 per share	Award	$7.5K	+1K	+0.2%	$7.50	489K	Sep 10, 2024	Direct	F1
holding	FREVS	Common Stock, par value $0.01 per share						52.5K	Sep 10, 2024	By IRAs	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FREVS	Option to Purchase	Options Exercise	$0	-1K	-100%	$0.00	0	Sep 10, 2024	Common Stock, par value $0.01 per share	5K	$7.50	Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Prior to the reincorporation of First Real Estate Investment Trust of New Jersey, Inc. ("FREIT") from a New Jersey real estate investment trust to a Maryland corporation on July 1, 2021, FREIT's equity securities were beneficial interests in FREIT that were designated as "shares" without par value. In connection with the reincorporation of FREIT as a Maryland corporation, FREIT's shares of beneficial interest were converted to shares of common stock, par value $0.01 per share, on a 1-for-1 basis.
F2	The original exercise price for the shares underlying this option was $15 per share. The exercise price was adjusted to $7.50 per share pursuant to the terms of FREIT's Equity Incentive Plan under which such option was granted.
F3	The shares underlying this option vest as follows: 1,000 shares vest on March 4, 2020; 1,000 shares vest on March 4, 2021; 1,000 shares vest on March 4, 2022; 1,000 shares vest on March 4, 2023; and 1,000 shares vest on March 4, 2024.