GlobeNewswire·Nov 6, 2026, 4:05 PM ET

Elme Communities Transfers Remaining Assets and Liabilities to Elme Communities Liquidating Trust and Dissolves

ELME

Elme Communities completed the transfer of all remaining assets and liabilities to the newly created Elme Communities Liquidating Trust on November 6, 2026.
The Company was officially dissolved on November 6, 2026, following the closure of share transfer books on November 5, 2026.
All beneficial interests in the Liquidating Trust are automatically held by former Elme shareholders based on their ownership percentage as of November 5, 2026.
Beneficial interests are non-transferable except by will or operation of law, do not trade on any exchange, are not represented by certificates, and no shareholder action was required to receive them.
All outstanding common shares were automatically cancelled on the effective date.
The Liquidating Trust's purpose is to liquidate remaining assets, primarily net cash proceeds from property sales, pay remaining liabilities, and distribute any surplus to interest holders.
Approximately $9.5 million in cash reserves were transferred to the Trust to cover estimated liabilities, unexpected costs, or unknown expenses arising during the wind-down process.
Mark E. Chertok of FTI Consulting, Inc. became the sole trustee of the Liquidating Trust on November 6, 2026, succeeding former executives Paul T. McDermott and W. Drew Hammond.
FTI Consulting, Inc. was retained to manage the wind-down process, including the appointment of the liquidating trustee.
Federal income tax consequences are detailed in the definitive proxy statement filed with the SEC on September 24, 2025.
Elme Communities ceased trading on the NYSE under ELME and OTC under ELMES on November 5, 2026.
Contact for the Liquidating Trust is handled by Mark E. Chertok via FTI Consulting, Inc. in Roseland, NJ.