UMH Properties (UMH) Proxy filing summary

Executive summary

• Achieved strong financial performance in 2025: rental and related income up 10%, community NOI up 9%, normalized FFO up 15%, and same property occupancy increased to 88.3%.

• Expanded portfolio with five new communities and invested $49 million in improvements.

• Raised capital through Fannie Mae credit facility additions, bond issuance in Israel, and equity sales; increased common stock dividend for the fifth consecutive year.

Voting matters and shareholder proposals

• Shareholders to vote on election of four Class II directors (terms expiring 2029), ratification of PKF O'Connor Davies, LLP as auditor for 2026, and advisory approval of executive compensation for 2025.

• Board recommends voting FOR all proposals.

• Shareholder proposals for the 2027 meeting must be submitted between December 18, 2026, and January 19, 2027.

Board of directors and corporate governance

• Board consists of 12 directors, majority independent; three new independent directors added in past six years.

• Board committees (Audit, Compensation, Nominating and Corporate Responsibility, Retirement Plan) are composed exclusively of independent directors (except Retirement Plan Committee).

• Board diversity includes three female and three racially diverse directors; average director tenure is 17.5 years.

• Substantial insider ownership aligns management with shareholders (8.33% of shares).

• Annual board and committee self-assessment, robust CEO and director stock ownership requirements, and no poison pill.