Craig Koster, EVP and General Counsel of UMH Properties, Inc. (NYSE:UMH), filed a Form 4 on September 18, 2026, reporting the acquisition of 50,000 stock options on September 16, 2026.

Key Highlights

  • New option grant: Craig Koster acquired 50,000 stock options on September 16, 2026, with an exercise price of $15.58 per share.
  • Vesting schedule: The options vest 20% per year over five years, with 10,000 shares vesting on each anniversary date from September 16, 2027 through September 16, 2031.
  • Expiration date: The newly granted options expire on September 16, 2036.
  • Direct common share holdings: Koster beneficially owned 123,594.63 shares of UMH Properties common stock following the reported transaction.
  • Preferred holdings: Koster also held 337.002 shares of UMH Properties Preferred D stock, held directly.
  • Total derivative position: Following the grant, Koster holds nine tranches of direct stock options totaling 354,000 derivative securities across exercise prices ranging from $9.70 to $16.86.

Craig Koster's Option Grant and Beneficial Ownership at UMH Properties

According to the Form 4 filed with the SEC on September 18, 2026, Craig Koster, serving as EVP and General Counsel of UMH Properties, Inc. (NYSE:UMH), received a grant of 50,000 stock options on September 16, 2026. The filing reports the transaction code as "A" (acquisition), with an exercise price of $15.58 per share and an expiration date of September 16, 2036. The filing notes that the options become exercisable beginning September 16, 2027.

As explained in the filing's footnote, "This stock option will vest over the next five years, 20% per year on each anniversary date as follows: 10,000 shares vesting on 9/16/2027; 10,000 shares vesting on 9/16/2028; 10,000 shares vesting on 9/16/2029; 10,000 shares vesting on 9/16/2030; and 10,000 shares vesting on 9/16/2031." All options are held directly by the reporting person.

The filing also discloses Koster's broader holdings. In Table I, covering non-derivative securities, the form reports 123,594.63 shares of UMH Properties common stock and 337.002 shares of UMH Properties Preferred D stock, both held directly. In Table II, covering derivative securities, the filing lists eight additional previously held option tranches with exercise prices ranging from $9.70 to $16.86, and expiration dates spanning from April 2027 through June 2035, all held directly. No dispositions of any security were reported in this filing.

What Was Disclosed

The filing reports the grant of 50,000 stock options to UMH Properties EVP and General Counsel Craig Koster at an exercise price of $15.58, vesting 20% annually over five years beginning September 16, 2027, and expiring September 16, 2036.