4//SEC Filing
Swann Christopher 4
Accession 0000950170-23-039185
CIK 0000077281other
Filed
Aug 6, 8:00 PM ET
Accepted
Aug 7, 5:25 PM ET
Size
10.7 KB
Accession
0000950170-23-039185
Insider Transaction Report
Form 4
Swann Christopher
Director
Transactions
- Exercise/Conversion
Restricted Share Units
2023-08-03−25,300→ 0 total→ Shares of Beneficial Interest (25,300 underlying) - Exercise/Conversion
Shares of Beneficial Interest, par value $1.00 per share
2023-08-03+25,300→ 134,643 total(indirect: See Footnotes) - Disposition to Issuer
Shares of Beneficial Interest, par value $1.00 per share
2023-08-03$0.59/sh−25,300$14,973→ 109,343 total(indirect: See Footnotes)
Footnotes (4)
- [F1]Consists of restricted share units ("RSUs") granted under the issuer's Amended and Restated Pennsylvania Real Estate Investment Trust 2018 Equity Incentive Plan. Each RSU represents a contingent right to receive one share of Beneficial Interest, par value $1.00 per share (a "Share"), of the issuer. The RSUs may be settled in Shares or cash in the discretion of the issuer's Compensation Committee. The Compensation Committee determined to settle the RSUs that vested on August 3, 2023 for cash. For purposes of this Form 4, the cash settlement of the vested RSUs has been presented as the conversion of the vested RSUs into Shares and the simultaneous disposition of Shares to the issuer for cash.
- [F2]Mr. Swann may be deemed to indirectly beneficially own the shares reported herein that are held directly by Cygnus Opportunity Fund, LLC, a Delaware limited liability company ("Cygnus Opportunity"), Cygnus Property Fund IV, LLC, a Delaware limited liability company ("Cygnus IV"), Cygnus Property Fund V, LLC, a Delaware limited liability company ("Cygnus V"), and Cygnus Property Fund VI, LLC, a Delaware limited liability company ("Cygnus VI") by virtue of serving as the President and CEO of Cygnus Capital, Inc., a Wyoming corporation, the managing member of each of (i) Cygnus Capital Advisers, LLC, a Wyoming limited liability company, which serves as the investment adviser of Cygnus Opportunity, (ii) Cygnus General Partners, LLC, a Wyoming limited liability company, which serves as the managing member of Cygnus Opportunity,
- [F3](continued from footnote 2) and (iii) Cygnus Capital Real Estate Advisors II, LLC, a Wyoming limited liability company, which serves as the general partner and investment advisor of each of Cygnus IV, Cygnus V, and Cygnus VI. Mr. Swann disclaims any beneficial ownership of any and all of the Issuer's securities reported herein in excess of his actual pecuniary interest.
- [F4]The RSU grant consisted of 25,300 RSUs granted on August 3, 2022, with all RSUs vesting on August 3, 2023.
Documents
Issuer
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
CIK 0000077281
Entity typeother
Related Parties
1- filerCIK 0001942640
Filing Metadata
- Form type
- 4
- Filed
- Aug 6, 8:00 PM ET
- Accepted
- Aug 7, 5:25 PM ET
- Size
- 10.7 KB