RELATED PARTY TRANSACTIONS	12 Months Ended
Dec. 31, 2025
RELATED PARTY TRANSACTIONS
Related Party Transactions	NOTE 12 — RELATED PARTY TRANSACTIONS Compensation and Services Agreement Pursuant to the compensation and services agreement (“C&SA”) with Majestic Property Management LLC (“Majestic”), Majestic provides the Company with certain (i) executive, administrative, legal, accounting, clerical, property management, property acquisition, consulting (i.e., sale, leasing, brokerage, and mortgage financing), and construction supervisory services (collectively, the “Services”) and (ii) facilities and other resources. Majestic provides compensation to several of the Company’s executive officers and is indirectly owned by, among others, Matthew J. Gould, the Company’s chairman, and Jeffrey A. Gould, a director and senior vice president of the Company. During 2025, 2024, and 2023, in consideration for the Services, the Company paid Majestic $3,619,000, $3,322,000 and $3,317,000, respectively. Included in these fees are $1,628,000 in 2025, $1,444,000 in 2024 and $1,510,000 in 2023 of property management services. The amounts paid for property management services are based on 1.5% and 2.0% of the rental payments (including tenant reimbursements) actually received by the Company from net lease tenants and operating lease tenants, respectively. The Company does not pay Majestic for property management services with respect to properties managed by third parties. During 2025, 2024 and 2023, the Company also paid Majestic, pursuant to the C&SA, $350,000, $336,000 and $317,000, respectively, for the Company’s share of all direct office expenses, including rent, telephone, postage, computer services, internet usage and supplies. Executive officers and others providing services to the Company under the C&SA were awarded shares of restricted stock and RSUs under the Company’s stock incentive plans. During 2025, 2024 and 2023, the related expense charged to the Company’s operations was $2,562,000, $2,401,000 and $2,499,000, respectively. The amounts paid under the C&SA (except for the property management services which are included in Real estate expenses) and the costs of the stock incentive plans are included in General and administrative expense on the consolidated statements of income. Other During 2025, 2024 and 2023, the Company paid fees of (i) $339,000, $326,000 and $313,000, respectively, to the Company’s chairman and (ii) $135,000, $130,000 and $125,000, respectively, to the Company’s vice chairman. These fees are included in General and administrative expense on the consolidated statements of income. At December 31, 2025 and 2024, Gould Investors L.P. (“Gould Investors”), a related party, owned 2,272,601 shares of the outstanding common stock of the Company, or approximately 10.5% and 10.6%, respectively. The Company obtains its property insurance in conjunction with Gould Investors and reimburses Gould Investors annually for the Company’s insurance cost relating to its properties. Amounts reimbursed to Gould Investors were $3,042,000, $1,177,000 and $1,093,000 during 2025, 2024 and 2023, respectively. Included in Real estate expenses on the consolidated statements of income is insurance expense of $2,216,000, $1,139,000 and $893,000 during 2025, 2024 and 2023, respectively. The balance of the amounts reimbursed to Gould Investors represents prepaid insurance and is included in Escrow, deposits and other assets and receivables on the consolidated balance sheets.

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2025

NOTE 12 — RELATED PARTY TRANSACTIONS

Compensation and Services Agreement

Pursuant to the compensation and services agreement (“C&SA”) with Majestic Property Management LLC (“Majestic”), Majestic provides the Company with certain (i) executive, administrative, legal, accounting, clerical, property management, property acquisition, consulting (i.e., sale, leasing, brokerage, and mortgage financing), and construction supervisory services (collectively, the “Services”) and (ii) facilities and other resources. Majestic provides compensation to several of the Company’s executive officers and is indirectly owned by, among others, Matthew J. Gould, the Company’s chairman, and Jeffrey A. Gould, a director and senior vice president of the Company.

During 2025, 2024, and 2023, in consideration for the Services, the Company paid Majestic $3,619,000, $3,322,000 and $3,317,000, respectively. Included in these fees are $1,628,000 in 2025, $1,444,000 in 2024 and $1,510,000 in 2023 of property management services. The amounts paid for property management services are based on 1.5% and 2.0% of the rental payments (including tenant reimbursements) actually received by the Company from net lease tenants and operating lease tenants, respectively. The Company does not pay Majestic for property management services with respect to properties managed by third parties. During 2025, 2024 and 2023, the Company also paid Majestic, pursuant to the C&SA, $350,000, $336,000 and $317,000, respectively, for the Company’s share of all direct office expenses, including rent, telephone, postage, computer services, internet usage and supplies.

Executive officers and others providing services to the Company under the C&SA were awarded shares of restricted stock and RSUs under the Company’s stock incentive plans. During 2025, 2024 and 2023, the related expense charged to the Company’s operations was $2,562,000, $2,401,000 and $2,499,000, respectively.

The amounts paid under the C&SA (except for the property management services which are included in Real estate expenses) and the costs of the stock incentive plans are included in General and administrative expense on the consolidated statements of income.

Other

During 2025, 2024 and 2023, the Company paid fees of (i) $339,000, $326,000 and $313,000, respectively, to the Company’s chairman and (ii) $135,000, $130,000 and $125,000, respectively, to the Company’s vice chairman. These fees are included in General and administrative expense on the consolidated statements of income.

At December 31, 2025 and 2024, Gould Investors L.P. (“Gould Investors”), a related party, owned 2,272,601 shares of the outstanding common stock of the Company, or approximately 10.5% and 10.6%, respectively.

The Company obtains its property insurance in conjunction with Gould Investors and reimburses Gould Investors annually for the Company’s insurance cost relating to its properties. Amounts reimbursed to Gould Investors were $3,042,000, $1,177,000 and $1,093,000 during 2025, 2024 and 2023, respectively. Included in Real estate expenses on the consolidated statements of income is insurance expense of $2,216,000, $1,139,000 and $893,000 during 2025, 2024 and 2023, respectively. The balance of the amounts reimbursed to Gould Investors represents prepaid insurance and is included in Escrow, deposits and other assets and receivables on the consolidated balance sheets.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

ONE LIBERTY PROPERTIES INC 10-K