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Share Name | Share Symbol | Market | Type |
---|---|---|---|
First Real Estate Investment Trust of New Jersey Inc (PK) | USOTC:FREVS | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 18.00 | 17.21 | 18.00 | 0.00 | 12:00:00 |
|
New Jersey
|
| |
6798
|
| |
[To be Supplied]
|
|
|
(State or jurisdiction of
incorporation or organization) |
| |
(Primary Standard Industrial
Classification Code Number) |
| |
(I.R.S. Employer
Identification) |
|
| | | | By Order of the Board of Trustees, | |
| Hackensack, New Jersey | | |
John A. Aiello
Secretary |
|
| , 2021 | | | | |
| | | | | 1 | | | |
| | | | | 17 | | | |
| | | | | 32 | | | |
| | | | | 59 | | | |
| | | | | 61 | | | |
| | | | | 62 | | | |
| | | | | 62 | | | |
| | | | | 65 | | |
Name
|
| |
Age
|
| |
Position(s)
|
|
Robert S. Hekemian, Jr. | | |
61
|
| | Chief Executive Officer, President and Trustee | |
Ronald J. Artinian | | |
72
|
| | Chairman of the Board and Trustee | |
David F. McBride, Esq. | | |
73
|
| | Trustee | |
John A. Aiello, Esq. | | |
71
|
| | Executive Secretary, Secretary and Trustee* | |
Justin F. Meng | | |
42
|
| | Trustee | |
David B. Hekemian | | |
54
|
| | Trustee* | |
Richard J. Aslanian | | |
60
|
| | Trustee* | |
Allan Tubin | | |
82
|
| | Chief Financial Officer and Treasurer | |
|
Chief Executive Officer compensation (A)
|
| | | $ | 408,022 | | |
|
Median compensation of all employees (not including Chief Executive Officer) (B)
|
| | | $ | 47,286 | | |
|
Ratio of (A) to (B)
|
| | | | 8.63 | | |
Name and Principal Position(1)
|
| |
Year
|
| |
Salary ($)(2)
|
| |
Bonus ($)
|
| |
Stock
Awards ($) |
| |
Option
Awards ($) |
| |
Non-Equity
Incentive Plan Compensation ($) |
| |
Change in
Pension Value and Nonqualified Deferred Compensation Earnings ($) |
| |
All Other
Compensation ($) |
| |
Total ($)
|
| |||||||||||||||||||||||||||
Robert S. Hekemian,
|
| | | | 2020 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Former Chairman of the
|
| | | | 2019 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | | | | | $ | | | ||
Board and Chief Executive
|
| | | | 2018 | | | | | $ | 128,932(4) | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 235,806(5) | | | | | $ | 364,738(6) | | |
Officer(3) | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||
Robert S. Hekemian, Jr.,
|
| | | | 2020 | | | | | $ | 350,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 58,022(9) | | | | | $ | 408,022 | | |
President and Chief Executive
|
| | | | 2019 | | | | | $ | 400,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 81,190(9) | | | | | $ | 481,190 | | |
Officer(7)
|
| | | | 2018 | | | | | $ | 171,781(8) | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 63,046(9) | | | | | $ | 234,827 | | |
Allan Tubin,
|
| | | | 2020 | | | | | $ | 25,500 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 25,500 | | |
Treasurer and Chief Financial
|
| | | | 2019 | | | | | $ | 21,863 (11) | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 21,863 | | |
Officer(10)
|
| | | | 2018 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Donald W. Barney,
|
| | | | 2020 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Former President, Treasurer
|
| | | | 2019 | | | | | $ | 20,342 (13) | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 87,211(14) | | | | | $ | 107,553 | | |
and Chief Financial
|
| | | | 2018 | | | | | $ | 75,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 119,515(14) | | | | | $ | 194,515 | | |
Officer(12) | | | | | | | | | | | |||||||||||||||||||||||||||||||||||||||||||||
John A. Aiello, Esq.,
|
| | | | 2020 | | | | | $ | 34,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 72,750 (15) | | | | | $ | 106,750 (16) | | |
Executive Secretary and
|
| | | | 2019 | | | | | $ | 40,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 76,000(15) | | | | | $ | 116,000(16) | | |
Secretary
|
| | | | 2018 | | | | | $ | 35,000 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 68,000(15) | | | | | $ | 103,000(16) | | |
Name(1)
|
| |
(a)(2)
Executive Contributions in Last FY ($) |
| |
(b)(2)
Registrant Contributions in Last FY ($) |
| |
(c)
Aggregate Earnings in Last FY ($) |
| |
(d)
Aggregate Withdrawals/ Distributions ($) |
| |
(e)(2)
Aggregate Balance at Last FYE ($) |
| |||||||||||||||
Robert S. Hekemian, Jr.
|
| | | $ | 51,250 | | | | | $ | — | | | | | $ | 6,772 | | | | | $ | — | | | | | $ | 663,216 | | |
Allan Tubin
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
John A. Aiello, Esq.
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Participant
|
| |
Aggregate
Deferred Fees for FY 2020 |
| |
Accrued
Deferred Interest for FY 2020 |
| |
Dividends
Payable on Credited Share Units for FY 2020 |
| |
Share Units
Credited for FY 2020 |
| |
Aggregate
Share Units Credited |
| |||||||||||||||
Robert S. Hekemian, Jr.
|
| | | $ | 51,250 | | | | | $ | 6,772 | | | | | $ | — | | | | | | 3,328 | | | | | | 22,353 | | |
Allan Tubin
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | | — | | | | | | — | | |
John A. Aiello, Esq.
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | | — | | | | | | — | | |
Plan category
|
| |
Number of Securities to be
Issued upon Exercise of Outstanding Options, Warrants and Rights (a) |
| |
Weighted-Average
Exercise Price of Outstanding Options, Warrants and Rights (b) |
| |
Number of Securities
Remaining Available for Future Issuance under Equity Compensation Plans (Excluding Securities Reflected in Column (a)) (c) |
| |||||||||
Equity compensation plans approved by shareholders(1)
|
| | | | 310,740 | | | | | $ | 18.35 | | | | | | 442,060 | | |
Equity compensation plans not approved by shareholders
|
| | | | — | | | | | $ | — | | | | | | — | | |
Total
|
| | | | 310,740 | | | | | $ | 18.35 | | | | | | 442,060 | | |
| | |
OPTION AWARDS
|
| | | | | | | |
STOCK AWARDS
|
| ||||||||||||||||||||||||||||||||||||||||||
Name
|
| |
Number of
Securities Underlying Unexercised Options (#) Exercisable |
| |
Number of
Securities Underlying Unexercised Options (#) Unexercisable |
| |
Equity
Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) |
| |
Option
Exercise Price ($) |
| |
Option
Expiration Date |
| |
Number
of Shares or Units of Stock That Have Not Vested (#) |
| |
Market
Value of Shares or Units of Stock That Have Not Vested ($) |
| |
Equity
Incentive Plan Awards: Number of Unexercised Shares, Units or Other Rights That Have Not Vested (#) |
| |
Equity
Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested (#) |
| |||||||||||||||||||||||||||
Robert S. Hekemian, Jr.
|
| | | | 19,000 | | | | | | — | | | | | | — | | | | | $ | 18.45(1) | | | | | | 9/3/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| | | | | 4,000 | | | | | | — | | | | | | — | | | | | $ | 18.45(1) | | | | | | 9/3/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Allan Tubin
|
| | | | 6,000 | | | | | | — | | | | | | — | | | | | $ | 18.45(1) | | | | | | 9/3/2024 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
John A. Aiello, Esq.
|
| | | | 15,200 | | | | | | 3,800(2) | | | | | | — | | | | | $ | 21.00(1) | | | | | | 11/9/2026 | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
Name
|
| |
Deferred Fees
Earned ($) |
| |
Stock
Awards ($) |
| |
Option
Awards ($) |
| |
Non-Equity
Incentive Plan Compensation ($) |
| |
Change in Pension
Value and Nonqualified Deferred Compensation Earnings ($)(2) |
| |
All Other
Compensation ($) |
| |
Total
($) |
| |||||||||||||||||||||
Ronald J. Artinian
|
| | | $ | 136,098 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 136,098 | | |
David F. McBride
|
| | | $ | 91,233 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 91,233 | | |
Justin F. Meng
|
| | | $ | 86,500 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 150,000(3) | | | | | $ | 236,500 | | |
David B. Hekemian
|
| | | $ | 50,250 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 50,250 | | |
Richard J. Aslanian
|
| | | $ | 77,850 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 77,850 | | |
Participant
|
| |
Aggregate
Deferred Fees for FY 2020 |
| |
Accrued
Deferred Interest for FY 2020 |
| |
Dividends
Paid on Credited Share Units for FY 2020 |
| |
Share Units
Credited for FY 2020 |
| |
Aggregate
Share Units Credited |
| |||||||||||||||
Ronald J. Artinian
|
| | | $ | 89,230 | | | | | $ | 21,368 | | | | | $ | — | | | | | | 6,172 | | | | | | 39,134 | | |
David F. McBride
|
| | | $ | 84,525 | | | | | $ | 6,708 | | | | | $ | — | | | | | | 5,023 | | | | | | 29,414 | | |
Justin F. Meng
|
| | | $ | 86,500 | | | | | $ | — | | | | | $ | — | | | | | | 4,639 | | | | | | 18,436 | | |
David B. Hekemian
|
| | | $ | 50,250 | | | | | $ | — | | | | | $ | — | | | | | | 2,892 | | | | | | 6,177 | | |
Richard J. Aslanian
|
| | | $ | 77,850 | | | | | $ | — | | | | | $ | — | | | | | | 4,246 | | | | | | 9,992 | | |
Totals
|
| | | $ | 388,355 | | | | | $ | 28,076 | | | | | $ | — | | | | | | 22,972 | | | | | | 103,153 | | |
| | |
10/16
|
| |
10/17
|
| |
10/18
|
| |
10/19
|
| |
10/20
|
| |||||||||||||||
First Real Estate Investment Trust
|
| | | $ | 113.34 | | | | | $ | 86.50 | | | | | $ | 88.57 | | | | | $ | 100.74 | | | | | $ | 77.82 | | |
Russell 2000
|
| | | $ | 104.11 | | | | | $ | 133.11 | | | | | $ | 135.57 | | | | | $ | 142.22 | | | | | $ | 142.03 | | |
FTSE NAREIT Equity REITs
|
| | | $ | 106.81 | | | | | $ | 112.87 | | | | | $ | 114.79 | | | | | $ | 142.00 | | | | | $ | 111.65 | | |
Name of Beneficial Owner(1)
|
| |
(A)
Aggregate Number of Shares Beneficially Owned(2) |
| |
(B)
Number of Shares Acquirable within 60 Days |
| | | |
(D)
Percent of Class(3) |
| |||||||||||||
Ronald J. Artinian(4)
|
| | | | 443,492(6) | | | | | | 24,400(5) | | | | | | 467,892(6) | | | | | | 6.8% | | |
David F. McBride, Esq.(4)
|
| | | | 5,000(7) | | | | | | 19,000(5) | | | | | | 24,000(7) | | | | | | * | | |
Robert S. Hekemian, Jr.(4)(8)
|
| | | | 300,148(9) | | | | | | 23,000(5) | | | | | | 323,148(9) | | | | | | 4.7% | | |
John A. Aiello, Esq.(4)(8)
|
| | | | 5,000 | | | | | | 15,200(5) | | | | | | 20,200 | | | | | | * | | |
Justin F. Meng(4)
|
| | | | 15,000(10) | | | | | | 15,200(5) | | | | | | 30,200(10) | | | | | | * | | |
David B. Hekemian(4)
|
| | | | 405,546 (11) | | | | | | 22,600(5) | | | | | | 428,146(11) | | | | | | 6.2% | | |
Richard J. Aslanian(4)
|
| | | | 10,200 | | | | | | 7,600(5) | | | | | | 17,800 | | | | | | * | | |
Allan Tubin(8)
|
| | | | 7,662 | | | | | | 6,000(5) | | | | | | 13,662 | | | | | | * | | |
All trustees and executive officers as a group
(8 persons)(6)(7)(9)(10)(11)(12) |
| | | | 1,089,832 (12) | | | | | | 133,000(5) | | | | | | 1,222,832(12) | | | | | | 17.8% | | |
|
ATTEST: |
| | FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC., a Maryland corporation | |
|
John A. Aiello
Secretary |
| |
By:
Robert S. Hekemian, Jr.
President and Chief Executive Officer |
|
Number
|
| |
Description
|
|
2.1
|
| | | |
3.1(a)
|
| | | |
3.1(b)
|
| | Form of Articles of Amendment and Restatement of First Real Estate Investment Trust of New Jersey, Inc. (attached as Appendix A to the Proxy Statement/Prospectus) | |
3.2
|
| | Bylaws of First Real Estate Investment Trust of New Jersey, Inc. (attached as Appendix B to the Proxy Statement/Prospectus) | |
5.1
|
| | Form of Legal Opinion of Miles & Stockbridge (to be filed by amendment). | |
23.1
|
| | | |
99.1
|
| | |
|
Name
|
| |
Title
|
| |
Date
|
|
|
/s/ Robert S. Hekemian, Jr.
Robert S. Hekemian, Jr.
|
| | Chief Executive Officer, President and Director | | |
February 11, 2021
|
|
|
/s/ John A. Aiello
John A. Aiello
|
| | Executive Secretary, Secretary and Director | | |
February 11, 2021
|
|
1 Year First Real Estate Invest... (PK) Chart |
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