Chiu Christina 4
4 · Empire State Realty Trust, Inc. · Filed May 11, 2020
Insider Transaction Report
Form 4
Chiu Christina
President
Transactions
- Award
LTIP Units
2020-05-07+35,432→ 35,432 total→ Class A Common Stock (35,432 underlying) - Award
LTIP Units
2020-05-07+46,767→ 82,199 total→ Class A Common Stock (46,767 underlying)
Footnotes (4)
- [F1]These represent long term incentive plan units ("LTIP Units"), a class of units of Empire State Realty OP, L.P. (the "Operating Partnership"). Conditioned upon sufficient allocations to the capital accounts of the LTIP Units for federal income tax purposes, LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of units of limited partnership interests ("Operating Partnership Units") of the Operating Partnership, which are redeemable by the holder for shares of Class A Common Stock of Empire State Realty Trust, Inc. (the "Issuer") on a one-for-one basis or the cash value of such shares, at the Issuer's option. The rights to convert LTIP units into Operating Partnership Units and redeem Operating Partnership Units do not have expiration dates.
- [F2]Each of the LTIP Units is subject to a holding period for an additional two years following the applicable vesting date of such LTIP Unit.
- [F3]These LTIP Units vest 25% ratably on each of the first four anniversaries of May 7, 2020, subject to continued employment through such dates.
- [F4]These LTIP Units vest ratably on each of the first three anniversaries of May 7, 2020, subject to continued employment through such dates.