Armada Hoffler Properties, Inc. — Director's Dealing 2025

Mar 24, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Armada Hoffler Properties, Inc. (AHH)
CIK: 0001569187
Period of Report: 2025-03-20

Reporting Person: Wimbush Frederick Blair (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-03-20	Common Stock	A	1790	$7.68	Acquired	21136.666	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Time-Based LTIP Units	$		Common Stock (4981)	4981	Direct

Footnotes

F1: These shares were issued to the director in lieu of his cash retainer.

F2: On February 13, 2025, the agreement of limited partnership (the "OP Agreement") of Armada Hoffler, L.P. (the "Operating Partnership"), the operating partnership of Armada Hoffler Properties, Inc. (the "Company"), and of which the Company is the general partner was amended, which amendment renamed existing "LTIP Units" as "Time-Based LTIP Units".

F3: Represents Time-Based LTIP Units in the Operating Partnership ("Time-Based LTIP Units"). Under the OP Agreement and subject to conditions set forth in the OP Agreement, following the date on which the Time-Based LTIP Units vest, Time-Based LTIP Units are convertible into common units of limited partnership interest in the Operating Partnership ("Common Units") at the holder's option. Under the award agreement pursuant to which the Time-Based LTIP Units were granted to the reporting person, except in connection with a Change of Control (as defined in the OP Agreement), the Time-Based LTIP Units may not be converted to Common Units until two years following the date of grant. Time-Based LTIP Units have no expiration date.

F4: Each Common Unit is redeemable for cash equal to the then-current market value of one share of the Company's common stock or, at the election of the Company, one share of the Company's common stock. Common Units have no expiration date.