Vivmark (VMRK) Director David Neithercut Gifts 4,949 OP Units

What Happened

• David J. Neithercut, a director of Vivmark Residential (VMRK), reported a series of gift transactions on 2026-09-09 involving OP Units (derivative units of the company's operating partnership). The filing shows four pairs of gift entries totaling 4,949 OP Units disposed and 4,949 OP Units acquired (all at $0.00 because these were gifts). The reported transactions appear to move the same units among entities (a limited liability company he manages, a grantor retained annuity trust (GRAT) for his benefit, and himself), so there is no net cash and no net increase or decrease in total units held by related parties.

Key Details

• Transaction date: 2026-09-09; Form 4 filed 2026-09-11 (filed two business days after the transactions).
• Price: $0.00 (G = gift). Total units moved (sum of acquired + disposed): 4,949 OP Units each way; net change to related-party holdings: zero.
• Post-transaction ownership: the filing identifies OP Units held beneficially by the reporting person’s LLC and by a grantor retained annuity trust (see footnotes). The form does not show a net new position for unrelated third parties.
• Notable footnotes: F1–F5 explain that (a) gifts were between the LLC and the GRAT (the reporting person is manager of the LLC and beneficiary of the GRAT), (b) the OP Units were previously restricted units that automatically converted and are now fully vested and transferable (F2), and (c) OP Units can be exchanged one-for-one for Vivmark common shares or, at the company’s option, for cash.

Context

• These were gift transfers among related entities and do not represent an open‑market buy or sale — such intra-family/entity transfers typically do not indicate the insider’s market view. The OP Units are derivatives (operating partnership units) convertible into common shares on a one-for-one basis, so they effectively represent an equity interest in the company rather than a cash transaction.