FREIT stockholders approve Plan of Liquidation; board declares $3.20 initial liquidating distribution

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

Stockholders approved the Plan of Voluntary Liquidation with 5,085,293 votes for, 6,503 against, and 22,260 abstentions at the Sept. 29, 2026 special meeting.
Board declared an initial liquidating distribution of $3.20 per share, payable Oct. 29, 2026 to stockholders of record as of Oct. 14, 2026.
FREIT estimates aggregate liquidating distributions of $24.44 to $30.03 per share, including the initial $3.20 distribution.
Remaining liquidating distributions are estimated at $20.95 to $28.68 per share, subject to asset sale proceeds, liabilities, and market conditions.
CEO Robert S. Hekemian Jr. called approval an important milestone; Chairman Ronald J. Artinian said the distribution shows commitment to returning capital efficiently.

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