FREVS First Real Estate Investment Trust of New Jersey Inc (PK)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

CURRENT REPORT

 

Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

December 7, 2015

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY

(Exact name of registrant as specified in charter)

New Jersey	000-25043	22-1697095
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

 

505 Main Street, Hackensack, New Jersey	07601
(Address of principal executive offices)	(Zip Code)

 

Registrant’s telephone number, including area code: (201) 488-6400

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o

Pre-commencement communications pursuant to Rule 14d-2 (b) under the Exchange Act (17 CFR 240.14d-2(b))

o

Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4 (c))

 

Section 5 – Corporate Governance and Management

 

Item 5.02 Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On December 3, 2015, the Board of Trustees (the “Board”) of First Real Estate Investment Trust of New Jersey (the “Trust”) approved the expansion of the size of the Board from seven Trustees to eight Trustees, and approved the appointment of John A. Aiello as a Trustee to fill the vacancy created as a result of the expansion, for a term to expire at the Trust’s 2016 Annual Meeting. The Nominating and Corporate Governance Committee of the Board had approved the expansion of the Board and Mr. Aiello’s appointment as a Trustee, and had recommended same to the Board.

 

Mr. Aiello currently serves as the Executive Secretary of the Trust. In addition, Mr. Aiello is a shareholder and officer of the law firm of Giordano, Halleran & Ciesla, P.C., which firm has been retained by the Trust to provide legal services since August 1997. The Trust paid $127,311 in legal fees to the law firm of Giordano, Halleran & Ciesla, P.C. during the Trust’s fiscal year ended October 31, 2015. In addition, Mr. Aiello paid the law firm the amount of $57,500 during the Trust’s fiscal year ended October 31, 2015, representing retainer and meeting fees that Mr. Aiello received in connection with his services as Executive Secretary during the 2015 fiscal year.

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY
	(Registrant)
	By:	/s/ Robert S. Hekemian
		Robert S. Hekemian
		Chairman of the Board

Date: December 7, 2015

HACKENSACK, NJ, December 7, 2015 – On December 3, 2015, First Real Estate Investment Trust of New Jersey (“FREIT”) expanded the size of its Board of Trustees to eight Trustees and appointed John A. Aiello as a Trustee. Mr. Aiello has served as the Executive Secretary of FREIT since 2003, and he is an officer and shareholder of the law firm of Giordano, Halleran & Ciesla, P.C. Giordano, Halleran & Ciesla, P.C. provides legal services to FREIT. Mr. Aiello’s term as Trustee will expire at FREIT’s 2016 Annual Meeting of Shareholders.

 

 

The statements in this report that relate to future earnings or performance are forward-looking. Actual results might differ materially and be adversely affected by such factors as longer than anticipated lease-up periods or the inability of tenants to pay increased rents. Additional information about these factors is contained in the Trust’s filings with the SEC including the Trust’s most recent filed report on Form 10-K and Form 10-Q.

 

First Real Estate Investment Trust of New Jersey is a publicly traded (over-the-counter – symbol FREVS.) REIT organized in 1961. It has approximately $352 million (historical cost basis) of assets. Its portfolio of residential and commercial properties extends from Eastern L.I. to Maryland, with the largest concentration in Northern New Jersey.

For additional information contact Shareholder Relations at (201) 488-6400

Visit us on the web: www.freitnj.com