Company: FRT-PC
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001193125-25-026560
Chunk: 18

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-14
Form: 424B5
Chunk 18
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 shares through an Agent, acting as forward seller, and all of such net proceeds will be paid to the relevant forward
purchaser (or one or more of its affiliates).

We currently expect to fully physically settle each forward sale agreement, if any, with
the relevant forward purchaser on one or more dates specified by us on or prior to the maturity date of such forward sale agreement. Although, we will generally have the right, subject to certain exceptions, to elect cash settlement or net share
settlement instead of physical settlement for any of the common shares we have agreed to sell under such forward sale agreement. If we elect or are deemed to have elected to physically settle any forward sale agreement by delivering common shares,
we will receive an amount of cash from the relevant forward purchaser equal to the product of (1) the forward sale price per share under such forward sale agreement and (2) the number of common shares as to which we have elected or are
deemed to have elected physical settlement, subject to the price adjustment and other provisions of such forward sale agreement. Each forward sale agreement will provide that the forward sale price will be subject to adjustment on a daily basis
based on a floating interest rate factor equal to a specified daily

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rate less a spread. If the specified daily rate is less than the applicable spread on any day, the interest rate factor will result in a daily reduction of the forward sale price. In addition, the forward sale price will be subject to decrease on certain dates specified in the relevant forward sale agreement by the amount per share of quarterly dividends we expect to declare on our common shares during the term of such forward sale agreement. We expect that, before any issuance of common shares upon physical settlement or net share settlement of any forward sale agreement, the common shares issuable upon settlement of such forward sale agreement will be reflected in our diluted earnings per share calculations using the treasury stock method. Under this method, the number of common shares used in calculating diluted earnings per share and funds from operations per share will be deemed to be increased by the excess, if any, of the number of common shares that would be issued upon physical settlement of such forward sale agreement over the number of common shares that could be purchased by us in the market (based on the average market price during the relevant period) using the proceeds receivable upon physical settlement (based on the adjusted forward sale price at the end of the relevant reporting period). Consequently, prior to physical or net share settlement of a forward sale agreement and subject to the occurrence of