ONE LIBERTY PROPERTIES INC — Director's Dealing 2012

Jan 18, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ONE LIBERTY PROPERTIES INC (OLP)
CIK: 0000712770
Period of Report: 2012-01-16

Reporting Person: KALISH DAVID (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-16	Common Stock	A	7400	—	Acquired	82611	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3167	Indirect
Common Stock	173255	Indirect
Common Stock	500	Indirect

Footnotes

F1: These shares were issued as restricted stock effective as of January 16, 2012, under the issuer's 2009 Incentive Plan. The shares vest January 15, 2017. The award is exempt from Section 16(b) under Rule 16b-3(d)(1).

F2: Reporting person is a trustee of BRT Pension Trust, a trustee of Gould Investors L.P. Pension Trust, anda trustee of REIT Management Corp. Pension Plan and Profit Sharing Trust, which,combined, own the number of shares shown.

F3: Reporting person disclaims any beneficial interest in these shares.