---
schema_version: "secwatch.filing_event.v1"
accession: "0001174947-23-000978"
form_type: "8-K"
ticker: "FREVS"
cik: "0000036840"
company_name: "FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T09:48:31.927674+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# FREIT adopts stockholder rights plan with 10% trigger in response to Kushner interest

## Summary
- Board adopted a rights plan (poison pill) with 10% beneficial ownership threshold; rights expire July 31, 2026.
- Rights become exercisable if any person acquires 10% or more of FREIT common stock; then holders (excluding acquirer) can purchase shares at 50% discount.
- Plan adopted in response to unsolicited non-binding expression of interest from K Corp Acquisitions LLC, a Kushner company.
- Ongoing litigation with Sinatra LLC (Kushner) over abandoned January 2020 asset purchase agreement; board seeks to resolve claims before considering any transaction.
- Dividend of one preferred stock purchase right per share declared; record date August 11, 2023.

## SEC filing metadata
- accession: 0001174947-23-000978
- form_type: 8-K
- ticker: FREVS
- cik: 0000036840
- company_name: FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36840/000117494723000978/0001174947-23-000978-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36840/000117494723000978/form8k-30581_frevs.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001174947-23-000978
- JSON: https://secwatch.observer/filing/0001174947-23-000978.json
- Plain text: https://secwatch.observer/filing/0001174947-23-000978.txt

## Key facts
- Governance Changes
  FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.: Adopted Articles Supplementary establishing Series A Junior Participating Cumulative Preferred Stock (effective 2023-08-03).
  - Change: charter amendment
  - Effective: 2023-08-03
  source text: In connection with the adoption of the Rights Agreement described in Item 1.01 above, the Board of Directors of the Company approved Articles Supplementary of Series A Junior Participating Cumulative Preferred Stock (the “Articles Supplementary”). The Articles Supplementary was filed with the Department of Assessments and Taxation of the State of Maryland on August 3, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/36840/000117494723000978/0001174947-23-000978-index.htm
- Material Agreements
  FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. entered into Stockholder Rights Agreement with Computershare Trust Company, N.A. (effective 2023-07-31).
  - Action: entry
  - Counterparty: Computershare Trust Company, N.A.
  - Effective: 2023-07-31
  source text: On July 28, 2023, the Board of Directors of First Real Estate Investment Trust of New Jersey, Inc. (the “Company”) adopted a stockholder rights plan, as set forth in the Stockholder Rights Agreement, dated July 31, 2023, between the Company and Computershare Trust Company, N.A., as Rights Agent (the “Rights Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/36840/000117494723000978/0001174947-23-000978-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.