Company: FRT-PC
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001193125-25-026560
Chunk: 39

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-14
Form: 424B5
Chunk 39
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 affiliated with us. The beneficiary of the trust will be one or more charitable organizations named by us. Any shares-in-trust remain issuedand outstanding shares and are entitled to the same rights and privileges as all other shares of the same class or series. The trust receives all dividends and distributions on the shares-in-trust and holdssuch dividends and distributions in trust for the benefit of the beneficiary. The trustee votes all shares-in-trust. The trusteeshall also designate a permitted transferee of the shares-in-trust. The permittedtransferee must purchase the shares-in-trust for valuableconsideration and acquire the shares-in-trust without resultingin the transfer being null and void. The record holder with respect to shares-in-trust must paythe trust any dividends or distributions received by such record holder that are attributable to any shares-in-trust if therecord date for those shares-in-trust was onor after the date that such shares became shares-in-trust. Upon saleor other disposition of the shares-in-trust to apermitted transferee, the record holder generally will receive from the trustee, the lesser of:

| • |     | the price per share, if any, paid by the record holder for the shares; or |

| • |     | if no amount was paid for such shares (e.g., if such shares were received through a gift or devise), |

| • |     | the price per share equal to the market price (which is calculated as defined in our declaration of trust) on the 
 date the shares were received, or                                                                                 |

| • |     | the price per share received by the trustee from the sale of such shares-in-trust. |

Any amounts received by the trustee in excess of the amounts paid to the record owner will be distributed to the beneficiary. Unless sooner sold to a permitted transferee, upon our liquidation, dissolution or winding up, the record owner generally will receive from the trustee its share of the liquidation proceeds but in no case more than the price per share paid by the record owner or, in the case of a gift or devise, the market price per share on the date such shares were received by the trust. 11

The shares-in-trust will be offered for sale to
us, or our designee, at a price per share equal to the lesser of the price per share in the transaction that created the shares-in-trust (or, in the
case of a gift or devise, the market price per share on the date of such