4//SEC Filing
Addy Robert Mark 4
Accession 0000899243-19-007780
CIK 0001476204other
Filed
Mar 13, 8:00 PM ET
Accepted
Mar 14, 7:17 PM ET
Size
7.1 KB
Accession
0000899243-19-007780
Insider Transaction Report
Form 4
Addy Robert Mark
Chief Operating Officer
Transactions
- Award
Class B Units
2019-03-12+9,322→ 27,504 total→ OP Units (9,322 underlying)
Footnotes (3)
- [F1]Represents Class B Units of limited partnership interests ("Class B Units") in Phillips Edison Grocery Center Operating Partnership I, L.P., a Delaware limited partnership ("PECO I OP"), issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. At issuance, the Class B Units were subject to vesting, and did not have full parity with common units of limited partnership interest in PECO I OP ("OP Units") with respect to liquidating distributions, but upon the occurrence of certain events described in PECO I OP's partnership agreement, could over time achieve full parity with the OP Units for all purposes. Upon vesting and achieving full parity with OP Units, the Class B Units would convert into an equal number of OP Units.
- [F2]Each OP Unit acquired upon conversion of a Class B Unit may be presented for redemption at the election of the holder, for cash equal to the fair market value of a share of the Issuer's Common Stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of Common Stock.
- [F3]The Class B Units are time-based awards and vest in four equal annual installments: 25% on January 1, 2020, 25% on January 1, 2021, 25% on January 1, 2022, and 25% on January 1, 2023, subject to continued employment.
Documents
Issuer
Phillips Edison & Company, Inc.
CIK 0001476204
Entity typeother
Related Parties
1- filerCIK 0001548380
Filing Metadata
- Form type
- 4
- Filed
- Mar 13, 8:00 PM ET
- Accepted
- Mar 14, 7:17 PM ET
- Size
- 7.1 KB