Subsequent Event	9 Months Ended
Jul. 31, 2022
Subsequent Event
Subsequent Event	Note 17 – Subsequent Event: On August 4, 2022, FREIT’s Board declared a special, extraordinary, non-recurring cash distribution of approximately $51.5 million, or $7.50 per share, which was paid on August 30, 2022, to stockholders of record on August 16, 2022 (with an ex-dividend date of August 31, 2022). This distribution represents most of the after-tax proceeds of FREIT’s extraordinary sale of its portfolio of Maryland properties. On August 4, 2022, in connection with the Board’s approval of the special, extraordinary, non-recurring cash distribution (“Extraordinary Distribution”), the Compensation Committee of the Board recommended and the Board approved that (i) the option exercise price of options outstanding under the Plan be adjusted, by reason of the Extraordinary Distribution, in accordance with the terms of the Plan; and (ii) the exercise price of options outstanding under the Plan should be reduced by an amount equal to the excess, if any, of (x) the average of the closing price of FREIT’s shares, as reported by Yahoo Finance, for each business day during the period of five (5) business days prior to the ex-dividend date relating to the Extraordinary Distribution (August 31, 2022), over (y) the average of the closing price of FREIT’s shares, as reported by Yahoo Finance, for each business day during the period of five (5) business days following the ex-dividend date relating to the Extraordinary Distribution. (See Note 7 for additional details.) On September 9, 2022, the Board determined that the amount of the reduction in exercise price for options outstanding under the Plan is $7.50 per share. In addition, $18.68 per share will be used as the share price for determining the number of share units to be distributed to participants in the Deferred Fee Plan in connection with the Extraordinary Distribution.

Subsequent Event

9 Months Ended

Jul. 31, 2022

Note 17 – Subsequent Event:

On August 4, 2022, FREIT’s Board declared a special, extraordinary, non-recurring cash distribution of approximately $51.5 million, or $7.50 per share, which was paid on August 30, 2022, to stockholders of record on August 16, 2022 (with an ex-dividend date of August 31, 2022). This distribution represents most of the after-tax proceeds of FREIT’s extraordinary sale of its portfolio of Maryland properties. On August 4, 2022, in connection with the Board’s approval of the special, extraordinary, non-recurring cash distribution (“Extraordinary Distribution”), the Compensation Committee of the Board recommended and the Board approved that (i) the option exercise price of options outstanding under the Plan be adjusted, by reason of the Extraordinary Distribution, in accordance with the terms of the Plan; and (ii) the exercise price of options outstanding under the Plan should be reduced by an amount equal to the excess, if any, of (x) the average of the closing price of FREIT’s shares, as reported by Yahoo Finance, for each business day during the period of five (5) business days prior to the ex-dividend date relating to the Extraordinary Distribution (August 31, 2022), over (y) the average of the closing price of FREIT’s shares, as reported by Yahoo Finance, for each business day during the period of five (5) business days following the ex-dividend date relating to the Extraordinary Distribution. (See Note 7 for additional details.) On September 9, 2022, the Board determined that the amount of the reduction in exercise price for options outstanding under the Plan is $7.50 per share. In addition, $18.68 per share will be used as the share price for determining the number of share units to be distributed to participants in the Deferred Fee Plan in connection with the Extraordinary Distribution.