4//SEC Filing
Saltzman Steven R. 4
Accession 0000899243-21-004000
CIK 0001559484other
Filed
Jan 31, 7:00 PM ET
Accepted
Feb 1, 9:48 PM ET
Size
10.8 KB
Accession
0000899243-21-004000
Insider Transaction Report
Form 4
Saltzman Steven R.
SVP, CFO & Treasurer
Transactions
- Award
Common Stock
2021-01-28+340.01→ 592.51 total - Award
Common Stock
2021-01-28+13,403.85→ 13,996.36 total - Tax Payment
Common Stock
2021-01-28−4,627.51→ 9,368.85 total
Footnotes (4)
- [F1]Reflects the acquisition of shares of the Issuer's common stock in connection with the merger (the "REIT I Merger") of Resource Real Estate Opportunity REIT, Inc. ("REIT I") with and into Revolution I Merger Sub, LLC, an indirect subsidiary of the Issuer. In the REIT I Merger, each share of REIT I common stock, par value $0.01 per share ("REIT I Common Stock"), was converted into the right to receive 1.22423 shares of common stock of the Issuer ("Resource REIT Common Stock"), par value $0.01 per share. There is no established market for shares of Resource REIT Common Stock or shares of REIT I Common Stock. On March 19, 2020, the board of directors of the Issuer approved an estimated value per share of Resource REIT Common Stock of $9.08.
- [F2](continued from footnote 1) On March 19, 2020, the board of directors of REIT I approved an estimated value per share of REIT I Common Stock of $11.10. For a full description of the methodologies used to calculate REIT I and the Issuer's respective estimated value per share as of December 31, 2019, see Part II, Item 5, "Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities - Market Information" of each company's respective Annual Report on Form 10-K for the year ended December 31, 2019 filed with the U.S. Securities and Exchange Commission (the "SEC") on March 20, 2020.
- [F3]Reflects the assumption of restricted stock awards granted under REIT I's 2020 Long-Term Incentive Plan (the "2020 LTIP"), which was assumed and adjusted by the Issuer to become awards with respect to Resource REIT Common Stock at the effective time of the REIT I Merger. These shares, which represent 40% of the total number of shares granted under the 2020 LTIP, vested upon the consummation of the Issuer's merger with REIT I. An additional 20,105.77 shares, which represent the remaining 60% of the total number of shares granted under the 2020 LTIP, will vest upon a liquidity event so long as the Reporting Person remains continuously employed through such vesting date.
- [F4]There is no established market for shares of Resource REIT Common Stock. On March 19, 2020, the board of directors of the Issuer approved an estimated value per share of Resource REIT Common Stock of $9.08. For a full description of the methodologies used to calculate the Issuer's estimated value per share as of December 31, 2019, see Part II, Item 5, "Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities - Market Information" its Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 20, 2020.
Documents
Issuer
Resource REIT, Inc.
CIK 0001559484
Entity typeother
Related Parties
1- filerCIK 0001518172
Filing Metadata
- Form type
- 4
- Filed
- Jan 31, 7:00 PM ET
- Accepted
- Feb 1, 9:48 PM ET
- Size
- 10.8 KB