4//SEC Filing
Berberi Ermelinda 4
Accession 0000899243-23-018743
CIK 0001605607other
Filed
Sep 11, 8:00 PM ET
Accepted
Sep 12, 4:47 PM ET
Size
6.6 KB
Accession
0000899243-23-018743
Insider Transaction Report
Form 4
Berberi Ermelinda
See Remarks
Transactions
- Award
LTIP Units
2023-09-08+188,680→ 188,680 total→ Common Stock (188,680 underlying)
Footnotes (2)
- [F1]The LTIP Units issued are intended to be in lieu of the Issuer's annual equity awards that would otherwise be granted in January 2024 and January 2025 and will vest in two equal installments on each of October 1, 2026 and 2027, subject to continued employment. The reporting person will be required to hold the LTIP units for an additional year following vesting.
- [F2]Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit will be converted automatically into a common unit of limited partnership interest ("OP Unit") in Paramount Group Operating Partnership LP (the "Partnership"). Each OP Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one 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. Such OP Units are generally not redeemable without the consent of the Issuer until two years from the date of the grant. The conversion feature of vested LTIP Units and the redemption rights for OP Units do not have expiration dates.
Documents
Issuer
Paramount Group, Inc.
CIK 0001605607
Entity typeother
Related Parties
1- filerCIK 0001842377
Filing Metadata
- Form type
- 4
- Filed
- Sep 11, 8:00 PM ET
- Accepted
- Sep 12, 4:47 PM ET
- Size
- 6.6 KB