PARKWAY PROPERTIES INC 4
4 · PARKWAY PROPERTIES INC · Filed Feb 22, 2016
Insider Transaction Report
Form 4
Dorsett Jeremy R
EVP & General Counsel
Transactions
- Award
LTIP Units
2016-02-18+28,800→ 28,800 total→ Common OP Units (28,800 underlying) - Award
Common Stock
2016-02-18+19,200→ 77,801 total
Footnotes (2)
- [F1]Represents time-based RSU awards that will vest 25% on each of the first, second, third and fourth anniversaries of the grant date, subject to the executive's continued employment with the Company.
- [F2]Represents performance-based LTIP units that will vest based on the attainment of targets for total return to stockholders during the performance period running from February 18, 2016 to February 17, 2019, subject to the executive's continued employment with the Company. Subject to the satisfaction of the vesting requirements and certain restrictions set forth in the limited partnership agreement of Parkway Properties LP, each LTIP unit may be converted, at the election of the executive or the Company, into an OP unit. Each OP unit acquired upon conversion of an LTIP unit may be redeemed, at the election of the executive, for cash equal to the then fair market value of a share of common stock, except that the Company may, at its election, acquire each OP unit so presented for redemption for one share of common stock.