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 & liabilities to the newly created Elme Communities Liquidating Trust on November 6, 2026.
Elme Communities was dissolved on the Effective Date of November 6, 2026, following the transfer.
Share transfer books were closed at the close of business on November 5, 2026, at which point shareholders automatically received Beneficial Interests in the Trust proportional to their prior ownership.
Beneficial Interests are non-transferable (except via will or operation of law), do not trade on any exchange or OTC market, & are not represented by certificates.
All outstanding Common Shares & their certificates were automatically cancelled & are no longer deemed outstanding.
The Liquidating Trust's primary purpose is to liquidate remaining assets, primarily net cash proceeds from property sales, & distribute any remaining funds to Beneficial Interest holders after satisfying all liabilities.
A cash reserve of approximately $9.5 million was transferred to the Trust to cover estimated & unknown liabilities, costs, & expenses arising during the wind-down process.
Mark E. Chertok of FTI Consulting, Inc. became the sole trustee of the Liquidating Trust upon the Effective Date, succeeding former officers Paul T. McDermott & W. Drew Hammond.
FTI Consulting, Inc. has been retained to provide services for the wind-down process & to serve as the liquidating trustee.
Tax information regarding the liquidation is available in the Company's definitive proxy statement filed with the SEC on September 24, 2025, & on the Trust's website.
Elme Communities Common Shares were delisted from the New York Stock Exchange & ceased OTC trading on November 5, 2026.
Contact for the Liquidating Trust is Mark E. Chertok, Trustee, c/o FTI Consulting, Inc.

Company: Elme Communities
Keywords: NYSE:ELME, Elme Communities