Company: FRT-PC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000034903-25-000037
Chunk: 25

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 25
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 units by our closing stock price on March 31, 2025. In April 2025, we redeemed 76,510 downREIT operating partnership units for $6.8 million.

NOTE 7—SHAREHOLDERS’ EQUITY

The following table provides a summary of dividends declared and paid per share: Three Months Ended March 31, 20252024 DeclaredPaidDeclaredPaidCommon shares$1.100 $1.100 $1.090 $1.090 5.417% Series 1 Cumulative Convertible Preferred shares$0.339 $0.339 $0.339 $0.339 5.0% Series C Cumulative Redeemable Preferred shares (1)$0.313 $0.313 $0.313 $0.313 (1)Amount represents dividends per depository share, each representing 1/1000th of a share.On February 14, 2025, we amended our existing at-the-market ("ATM") equity program under which we may from time to time offer and sell common shares. This amendment reset the aggregate offering price of the program to $750.0 million. Our ATM equity program also allows shares to be sold through forward sales contracts. We intend to use the net proceeds to fund 

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potential acquisition opportunities, fund our development and redevelopment pipeline, repay indebtedness and/or for general corporate purposes. During the three months ended March 31, 2025, we settled our remaining open forward sales agreements by issuing 476,497 common shares for net cash proceeds of $54.5 million including paying $0.1 million in additional offering expenses.During the three months ended March 31, 2025, there were no sales and we did not enter into any forward sales contracts under the amended ATM equity program, and therefore we have the capacity to issue up to $750.0 million in common shares under this program as of March 31, 2025.

NOTE 8—SHARE-BASED COMPENSATION PLANS

A summary of share-based compensation expense included in net income is as follows:Three Months Ended March 31, 20252024 (In thousands)Grants of common shares, restricted stock units, and options$4,112 $4,430 Capitalized share-based compensation(231)(270)Share-based compensation expense$3,881 $4,160 

NOTE 9