Eric E. Apperson - 15 Aug 2025 Form 4 Insider Report for Armada Hoffler Properties, Inc. (AHH)

Role: President of Construction
Signature: /s/ Matthew T. Barnes-Smith, Attorney-in-Fact for Eric E. Apperson
Issuer symbol: AHH
Transactions as of: 15 Aug 2025
Net transactions value: -$347,902
Form type: 4
Filing time: 19 Aug 2025, 17:19:42 UTC
Previous filing: 05 Mar 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Apperson Eric E.	President of Construction	C/O ARMADA HOFFLER PROPERTIES, INC., 222 CENTRAL PARK AVENUE, SUITE 1000, VIRGINIA BEACH	/s/ Matthew T. Barnes-Smith, Attorney-in-Fact for Eric E. Apperson	19 Aug 2025	0001575963

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AHH	Common Stock	Sale	$347,902	-48,837	-82%	$7.12	10,648	15 Aug 2025	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	AHH	Common Units						255,124	15 Aug 2025	Common Stock	255,124		Direct	F2, F3
holding	AHH	Time-Based LTIP Units						30,864	15 Aug 2025	Common Stock	30,864		Direct	F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.115 to $7.170, inclusive. The Reporting Person undertakes to provide to Armada Hoffler Properties, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (1) to this Form 4.
F2	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.
F3	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.
F4	Represents Time-Based LTIP Units in the Operating Partnership ("Time-Based LTIP Units"). Under the agreement of limited partnership of the Operating Partnership (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.