Company: OLP
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001558370-25-010447
Chunk: 15

Company: ONE LIBERTY PROPERTIES INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part II, Item 5O
Chunk 15
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Item 5. Other Information

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Disclosure of 10b5-1 Plans

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None of our officers or directors had any contract, instruction, or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement” in effect at any time during the three months ended June 30, 2025. 

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Equity Incentive Program Activity

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On June 27, 2025, we awarded an aggregate of 91,075 shares subject to restricted stock units (“RSUs”), and related dividend equivalent rights. Generally, the awards vest in 2028 subject to satisfaction of, among other things, market and performance conditions similar to the conditions applicable to the RSUs granted in 2024 and 2023.

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On August 5, 2025, we determined that the performance and market conditions with respect to the vesting of 36,704 of the 85,350 RSUs awarded in 2022 had been met as of June 30, 2025, and authorized the issuance of 36,704 shares of common stock. We anticipate paying the holders of the RSUs an aggregate of approximately $198,000 with respect to the dividend equivalent rights with respect to the vested shares.

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Impact of the One Big Beautiful Bill Act on the Company and its Stockholders

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The discussion under " Federal Income Tax Considerations" in our prospectus dated September 1, 2023, as the same may have been amended or supplemented form time-to-time (the “Prospectus”), is hereby modified to reflect legislation commonly referred to as the One Big Beautiful Bill Act. Capitalized terms used in this section without being defined herein shall have the meanings ascribed to them by the Prospectus.

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Enactment of the One Big Beautiful Bill Act: On July 4, 2025, legislation commonly referred to as the One Big Beautiful Bill Act (the “OBBBA”) was enacted into law. Among other changes, the OBBBA included a number of changes to the Code that affect the U.S. federal income tax laws applicable to REITs and their security holders. The most significant of those changes are described below. Prospective investors should consult their tax advisors regarding the effects of the OBBBA on their investment.

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REIT Asset Tests: The OBBBA increases the ownership limit applicable to TRSs for