Company: FRT-PC
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001193125-25-026560
Chunk: 17

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-14
Form: 424B5
Chunk 17
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umstances, including our failure to maintain a listing of our common shares on the NYSE or the occurrence of a material adverse change in our company.

Sales Through Forward Sellers

If we
enter into a forward sale agreement with any forward purchaser, we expect that such forward purchaser (or its affiliate) will attempt to borrow from third parties and sell, through the relevant Agent, acting as sales agent for such forward
purchaser, common shares to hedge such forward purchaser’s exposure under such forward sale agreement.

In connection with any
forward sale agreement, we will deliver instructions to the relevant Agent directing such Agent, as forward seller, to sell the applicable borrowed common shares on behalf of the relevant forward purchaser. Upon its acceptance of such instructions,
such Agent has agreed to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such common shares, as forward seller on behalf of such forward purchaser, on the terms and subject to the conditions set
forth in the equity distribution agreement. We may instruct such Agent as to the amount of common shares to be sold by it as forward seller and may also instruct such Agent not to sell such common shares if the sales cannot be effected at or above a
price designated by us. We or the applicable Agent may at any time immediately suspend the offering of common shares through such Agent, as forward seller, upon notice to the other parties.

Pursuant to each forward sale agreement, if any, we will have the right to issue and deliver to the forward purchaser party thereto a
specified number of common shares on the terms and subject to the conditions set forth therein, or, alternatively, to elect cash settlement or net share settlement, for all or any portion of such shares. The initial forward sale price per share
under each forward sale agreement will equal the product of (1) an amount equal to one minus the applicable forward selling commission and (2) the volume weighted average price per share at which the borrowed common shares were sold
pursuant to the equity distribution agreement by the relevant Agent, acting as forward seller, during the applicable forward selling period for such shares to hedge the relevant forward purchaser’s exposure under such forward sale agreement
(subject to certain possible adjustments to such gross sales price for daily accruals and any
quarterly dividends having an “ex-dividend” date during such forward selling period). Thereafter, the forward sale price will be subject to the price
adjustment provisions of the applicable forward sale agreement. We will not receive any proceeds from any sale of borrowed common