Company: FRT-PC
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001193125-25-026560
Chunk: 9

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-14
Form: 424B5
Chunk 9
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% Series C Cumulative Redeemable Preferred Shares, or Series C Preferred Shares, with an aggregate liquidation preference of $150 million, were issued and outstanding. Holders
of our debt and preferred shares have liquidation rights and other rights that are senior to the rights of the holders of our common shares. Upon any voluntary or involuntary liquidation, dissolution or winding up, payment will be made to holders of
our debt and preferred shares, including our Series 1 Preferred Shares and Series C Preferred Shares, before any payment is made to the holders of our common shares. This will reduce the amount of our assets, if any, available for distribution to
holders of our common shares. Because our decision to issue debt and preferred shares is dependent on market conditions and other factors that may be beyond our control, we cannot predict or estimate the amount, timing or nature of our future
issuances. Any such future issuance could reduce the market price of our common shares.

Settlement provisions contained in forward sale agreements subject us to certain risks.

Each forward sale agreement provides the applicable forward purchaser with the right to accelerate its
forward sale agreement with respect to all or any portion of the transaction under such forward sale agreement (except with respect to events specified in (1) and (3) below, where accelerated settlement is limited to the portion of common
shares whose settlement would address the relevant event or that is affected by the relevant event) that it enters into with us and require us to physically settle such common shares on a date specified by such forward purchaser if: (1) in such
forward purchaser’s commercially reasonable judgment, it or its affiliate is unable to hedge (or maintain a hedge of) its exposure in a commercially reasonable manner under such forward sale agreement because

S-3

(a) insufficient common shares have been made available for borrowing by securities lenders or (b) such forward purchaser or any of its affiliates would incur a share borrow cost in excess of a specified threshold; (2) we declare any dividend, issue or distribution on our common shares that constitutes an extraordinary dividend under the forward sale agreement or is payable in (a) cash in excess of specified amounts (unless it is an extraordinary dividend), (b) securities of another company that we acquire or own (directly or indirectly) as a result of a spin-off or similar transaction, or(c) any other type of securities (other than our common shares), rights, warrants or other assets for payment at less than the prevailing market price; (3) certain ownership thresholds applicable