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: GOULD MATTHEW J (Director, SENIOR VICE PRESIDENT)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-16	Common Stock	A	7400	—	Acquired	255987	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	41223	Indirect
Common Stock	4093	Indirect
Common Stock	13977	Indirect
Common Stock	1476238	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: Includes shares held in reporting person's IRA and Keogh accounts and in money purchase pension plan.

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

F4: These shares are owned by a charitable foundation of which reporting person is a director.

F5: Reporting person is president of managing general partner of Gould Investors L.P. Reporting person also holds limited partnership units in Gould Investors L.P. These shares represent all shares of issuer owned by Gould Investors L.P. Inclues shares obtained through issuer's dividend reinvestment plan.