VMRK Director Terry S. Brown Receives Award

What Happened

• Terry S. Brown, a director of Vivmark Residential (VMRK), was granted 2,710 Series 2026I restricted limited partnership interests ("RUs") on August 17, 2026. The report values the grant at $0.50 per unit, totaling $1,355. This is an award (grant) of derivative units as part of long-term compensation, not an open-market purchase or sale.

Key Details

• Transaction date and price: August 17, 2026; 2,710 RUs at $0.50 each (total $1,355).
• Filing date: Report filed August 19, 2026 (reports the August 17 transaction); appears timely.
• Shares/units owned after transaction: Not disclosed in the provided filing excerpt.
• Footnote highlights:
  • F1: Grant elected in connection with long-term compensation covering service from Aug 17, 2026 to the 2027 Annual Meeting.
  • F2: RUs convert automatically into OP Units when the RU capital account reaches a tax-target within 10 years; OP Units are exchangeable one-for-one for Company common shares or for cash at the Company’s option. The reported RUs include any OP Units into which they may automatically convert.
  • F3: Vesting and holding: RUs scheduled to vest Aug 17, 2027; subject to a holding restriction until Aug 17, 2028.

Context

• These RUs are derivative, restricted partnership interests intended as long-term compensation. They are not an immediate purchase or sale of common stock; conversion to equity depends on tax-accounting triggers and later exchange mechanics. For retail investors, such grants indicate compensation alignment but should not be interpreted as an immediate market signal (no shares were sold or bought in the open market).