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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Biddle Willing L.
- --------------------------------------------------------------------------------
(Last) (First) (Middle)
53 Elwood Road
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(Street)
South Salem NY 10590
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(City) (State) (Zip)
URSTADT BIDDLE PROPERTIES INC.: UBP
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2. Issuer Name and Ticker or Trading Symbol
###-##-####
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3. IRS or Social Security Number of Reporting Person (Voluntary)
August, 1998
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4. Statement for Month/Year
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ x ] Director [ ] 10% Owner
[ x ] Officer (give title below) [ ] Other (specify below)
Director, President & Chief
Operating Officer
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7. Individual or Joint/Group Filing (Check applicable line)
[x] Form filed by one Reporting Person
[ ] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
================================================================================
<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 08/11/98 P 600 A $17.25
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Common Stock 08/12/98 P 400 A $17.25
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Common Stock 08/13/98 P 500 A $17.25 56,000 D
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Common Stock N/A N/A None -- -- 450,000 I By Trust(1)
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Class A Common Stock ("Class A Stock") 08/14/98 J(3) 56,000 A (3) 56,000 D
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Class A Stock 08/14/98 J(3) (3) 450,000 I By Trust(2)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
(1) Mr. Biddle disclaims beneficial ownership in the 450,000 shares which are
held by a trust of which his wife, Catherine Urstadt Biddle, is a
beneficiary but has no dispositive or voting control over the shares.
(2) Mr. Biddle disclaims beneficial ownership in the 450,000 shares of Class A
Stock which are held by a trust of which his wife, Catherine Urstadt
Biddle, is a beneficiary but has no dispositive or voting control over the
shares.
(3) On June 16, 1998, the Board of Directors of Urstadt Biddle Properties Inc.
(the "Company") declared a special stock dividend (the "Stock Dividend") on
the Common Stock, consisting of one share of a newly created class of Class
A Common Stock for each share of Common Stock outstanding as of the record
date for the Stock Dividend (the "Record Date"). The Stock Dividend was
paid on August 14, 1998 to holders of record of the Common Stock as of the
close of business on the Record Date.
Page 1 of 5
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/
Common Stock 6.852(5) 98(4) J(4) V 3500 11/08/05 Common Stock 3500 0 19,000(6) D
- ------------------------------------------------------------------------------------------------------------------------------------
875 11/08/96
- ------------------------------------------------------------------------------------------------------------------------------------
875 11/08/97
- ------------------------------------------------------------------------------------------------------------------------------------
875 11/08/98
- ------------------------------------------------------------------------------------------------------------------------------------
875 11/08/99
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/
Common Stock 7.661(5) 98(4) J(4) V 6000 06/12/06 Common Stock 6000 0 19,000(6) D
- ------------------------------------------------------------------------------------------------------------------------------------
1500 06/12/97
- ------------------------------------------------------------------------------------------------------------------------------------
1500 06/12/98
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1500 06/12/99
- ------------------------------------------------------------------------------------------------------------------------------------
1500 06/12/00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
(4) In connection with the Stock Dividend, each of the reporting person's
options to purchase shares of Common Stock (each, an "Existing Option")
awarded prior to the Stock Dividend has been deemed to be an option (each, a
"Combination Option") to purchase such number of shares of Common Stock and
such number of shares of Class A Stock as may be equal to the number of
shares of Common Stock issuable pursuant to the related Existing Option. The
exercise price for the purchase of one share of Common Stock and/or one
share of Class A Common Stock pursuant to each Combination Option has been
set according to the proportional allocation of the exercise price for the
purchase of one share of Common Stock pursuant to the related Existing
Option, such proportional allocation having been determined according to the
fair market values of the underlying shares of Common Stock (ex-Stock
Dividend) and Class A Common Stock.
(5) The strike price of the reported option reflects the appropriate
adjustments, as described in Footnote 4, made to the strike price of the
related Existing Option as set forth in a previously filed report.
(6) The reporting person beneficially owns at the end of the month a total of
19,000 derivative securities related to the Common Stock with seven
different strike prices and expiration dates.
Page 2 of 5
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Common
Common Stock 7.038(5) 98(4) J(4) V 1250 06/14/03 Stock 1250 0 19,000(6) D
- ------------------------------------------------------------------------------------------------------------------------------------
312 06/14/94
- ------------------------------------------------------------------------------------------------------------------------------------
313 06/14/95
- ------------------------------------------------------------------------------------------------------------------------------------
312 06/14/96
- ------------------------------------------------------------------------------------------------------------------------------------
313 06/14/97
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Common
Common Stock 7.599(5) 98(4) J(4) V 1250 11/10/03 Stock 1250 0 19,000(6) D
- ------------------------------------------------------------------------------------------------------------------------------------
312 11/10/94
- ------------------------------------------------------------------------------------------------------------------------------------
313 11/10/95
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312 11/10/96
- ------------------------------------------------------------------------------------------------------------------------------------
313 11/10/97
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Common
Common Stock 7.387(5) 98(4) J(4) V 2000 06/10/04 Stock 2000 0 19,000(6) D
- ------------------------------------------------------------------------------------------------------------------------------------
500 06/10/95
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500 06/10/96
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500 06/11/97
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500 06/11/98
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Common
Common Stock 7.038(5) 98(4) J(4) V 2000 11/10/04 Stock 2000 0 19,000(6) D
- ------------------------------------------------------------------------------------------------------------------------------------
500 11/10/95
- ------------------------------------------------------------------------------------------------------------------------------------
500 11/10/96
- ------------------------------------------------------------------------------------------------------------------------------------
500 11/10/97
- ------------------------------------------------------------------------------------------------------------------------------------
500 11/10/98
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
Page 3 of 5
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Common
Common Stock 6.976(5) 98(4) J(4) V 3000 06/07/05 Stock 3000 0 19,000(6) D
- ------------------------------------------------------------------------------------------------------------------------------------
750 06/07/96
- ------------------------------------------------------------------------------------------------------------------------------------
750 06/07/97
- ------------------------------------------------------------------------------------------------------------------------------------
750 06/07/98
- ------------------------------------------------------------------------------------------------------------------------------------
750 06/07/99
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Class A
Class A Stock 6.898(5) 98(4) J(4) V 3500 11/08/05 Stock 3500 0 19,000(7) D
- ------------------------------------------------------------------------------------------------------------------------------------
875 11/08/96
- ------------------------------------------------------------------------------------------------------------------------------------
875 11/08/97
- ------------------------------------------------------------------------------------------------------------------------------------
875 11/08/98
- ------------------------------------------------------------------------------------------------------------------------------------
875 11/08/99
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Class A
Class A Stock 7.714(5) 98(4) J(4) V 6000 06/12/06 Stock 6000 0 19,000(7) D
- ------------------------------------------------------------------------------------------------------------------------------------
1500 06/12/97
- ------------------------------------------------------------------------------------------------------------------------------------
1500 06/12/98
- ------------------------------------------------------------------------------------------------------------------------------------
1500 06/12/99
- ------------------------------------------------------------------------------------------------------------------------------------
1500 06/12/00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
(7) The reporting person beneficially owns at the end of the month a total of
19,000 derivative securities related to the Class A Stock with seven
different strike prices and expiration dates.
Page 4 of 5
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Class A
Class A Stock 7.087(5) 98(4) J(4) V 1250 06/14/03 Stock 1250 0 19,000(7) D
- ------------------------------------------------------------------------------------------------------------------------------------
312 06/14/94
- ------------------------------------------------------------------------------------------------------------------------------------
313 06/14/95
- ------------------------------------------------------------------------------------------------------------------------------------
312 06/14/96
- ------------------------------------------------------------------------------------------------------------------------------------
313 06/14/97
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Class A
Class A Stock 7.651(5) 98(4) J(4) V 1250 11/10/03 Stock 1250 0 19,000(7) D
- ------------------------------------------------------------------------------------------------------------------------------------
312 11/10/94
- ------------------------------------------------------------------------------------------------------------------------------------
313 11/10/95
- ------------------------------------------------------------------------------------------------------------------------------------
312 11/10/96
- ------------------------------------------------------------------------------------------------------------------------------------
313 11/10/97
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Class A
Class A Stock 7.438(5) 98(4) J(4) V 2000 06/10/04 Stock 2000 0 19,000(7) D
- ------------------------------------------------------------------------------------------------------------------------------------
500 06/10/95
- ------------------------------------------------------------------------------------------------------------------------------------
500 06/10/96
- ------------------------------------------------------------------------------------------------------------------------------------
500 06/11/97
- ------------------------------------------------------------------------------------------------------------------------------------
500 06/11/98
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Class A
Class A Stock 7.087(5) 98(4) J(4) V 2000 11/10/04 Stock 2000 0 19,000(7) D
- ------------------------------------------------------------------------------------------------------------------------------------
500 11/10/95
- ------------------------------------------------------------------------------------------------------------------------------------
500 11/10/96
- ------------------------------------------------------------------------------------------------------------------------------------
500 11/10/97
- ------------------------------------------------------------------------------------------------------------------------------------
500 11/10/98
- ------------------------------------------------------------------------------------------------------------------------------------
Option - granting
the right to buy 8/14/ Class A
Class A Stock 7.024(5) 98(4) J(4) V 3000 06/07/05 Stock 3000 0 19,000(7) D
- ------------------------------------------------------------------------------------------------------------------------------------
750 06/07/96
- ------------------------------------------------------------------------------------------------------------------------------------
750 06/07/97
- ------------------------------------------------------------------------------------------------------------------------------------
750 06/07/98
- ------------------------------------------------------------------------------------------------------------------------------------
750 06/07/99
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Explanation of Responses:
/s/ Willing L. Biddle 09/10/98
- --------------------------------------------- -----------------------
**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If
space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
Page 5 of 5
