Company: FRT-PC
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001193125-25-026560
Chunk: 19

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-14
Form: 424B5
Chunk 19
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 certain events, we anticipate there will be no dilutive effect on our earnings per share or funds from operations per share as a result of such forward sale agreement except during periods when the average market price of our common shares is above the per share adjusted forward sale price of such forward sale agreement, subject to increase or decrease based on a specified daily rate less a spread, and subject to decrease by amounts related to expected dividends on our common shares during the term of that particular forward sale agreement. However, if we decide to physically or net share settle any forward sale agreement, delivery of common shares by us will result in dilution to our earnings per share and funds from operations per share. We will generally have the right, in lieu of physical settlement of any forward sale agreement, to elect cash or net share settlement in respect of any or all of our common shares subject to the forward sale agreement. If we elect to cash or net share settle all or any part of any forward sale agreement, we would expect the relevant forward purchaser or one of its affiliates to purchase common shares in secondary market transactions over an unwind period to:

| • |     | return common shares to securities lenders to unwind such forward purchaser’s hedge (after taking into                     
 consideration any common shares to be delivered by us to such forward purchaser, in the case of net share settlement); and |

| • |     | if applicable, in the case of net share settlement, deliver common shares to us to the extent required upon 
 settlement of such forward sale agreement.                                                                  |

If the price of our common shares at which these purchases by such forward purchaser (or its affiliate) are made is below the relevant forward sale price, such forward purchaser will pay us such difference in cash (if we elect to cash settle) or deliver to us a number of common shares having a market value equal to such difference (if we elect to net share settle). If the price of our common shares at which these purchases are made by such forward purchaser (or its affiliate) exceeds the applicable forward sale price, then we will pay such forward purchaser an amount in cash equal to such difference (if we elect to cash settle) or we will deliver to such forward purchaser a number of common shares having a market value equal to such difference (if we elect to net share settle). Any such difference could be significant and could result in our receipt of a significant amount of cash or number of common shares from such forward purchaser or require us to pay a significant amount of cash or deliver a significant number of common shares to such forward purchaser.