Elme Communities announced on October 23, 2026, that the New York Stock Exchange (NYSE) has commenced proceedings to delist the company’s common shares due to “abnormally low selling price” levels. As a result, trading of the Common Shares was immediately suspended on the NYSE.
The NYSE cited Section 802.01D of the NYSE Listed Company Manual in exercising its discretionary authority to take this action. Elme does not intend to appeal the NYSE’s determination, meaning the delisting is expected to proceed.
The company anticipates that trading will resume over-the-counter (OTC) on Monday, October 26, 2026, under the symbol “ELMES.” Investors are cautioned that OTC markets are more limited and subject to different restrictions than exchange-listed markets.
This move is part of Elme’s previously approved Plan of Sale and Liquidation. The plan was approved by the Board of Trustees on July 30, 2025, and by shareholders on October 30, 2025. Under this plan, Elme intends to voluntarily dissolve on November 6, 2026.
Before the dissolution takes effect, the company plans to transfer all remaining assets and liabilities to a Maryland liquidating trust. The trust will be managed by FTI Consulting, Inc., which will also provide a liquidating trustee. Shareholders will automatically receive beneficial interests in the trust corresponding to their ownership percentage, and these interests will not be transferable.
Share transfer books are scheduled to close on November 5, 2026. Following the transfer of assets, all outstanding Common Shares will be automatically cancelled.
