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

Mar 5, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: Apperson Eric E. (President of Construction)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-03-03	Common Stock	A	34900	—	Acquired	68766.814	Direct
2025-03-03	Common Stock	F	9282	$9.18	Disposed	59484.814	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Units	$		Common Stock (255124)	255124	Direct
Time-Based LTIP Units	$		Common Stock (30864)	30864	Direct

Footnotes

F1: Represents a grant of restricted shares of common stock, 40% of which vested on the grant date, 20% of which will vest on the first anniversary of the grant date, 20% of which will vest on the second anniversary of the grant date and 20% of which will vest on the third anniversary of the grant date, subject to the executive's continued employment on such dates.

F2: Reflects shares of common stock surrendered to Armada Hoffler Properties, Inc. (the "Company") to satisfy tax withholding obligations in connection with the vesting of restricted shares of common stock.

F3: Represents common units of limited partnership interest ("Common Units") in Armada Hoffler, L.P. (the "Operating Partnership"), the operating partnership of the Company, and of which the Company is the general partner. All Common Units reflected in this report were issued more than one year prior to the date hereof and, therefore, may be tendered for redemption by the holder.

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.

F5: On February 13th, 2025, the agreement of limited partnership of the Operating Partnership (the "OP Agreement") was amended, which amendment renamed existing "LTIP Units" as "Time-Based LTIP Units".

F6: 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 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.