4//SEC Filing
HERSHA HOSPITALITY TRUST 4
Accession 0001063344-17-000028
CIK 0001063344operating
Filed
Mar 29, 8:00 PM ET
Accepted
Mar 30, 4:20 PM ET
Size
6.4 KB
Accession
0001063344-17-000028
Insider Transaction Report
Form 4
Gillespie Michael R
Chief Accounting Officer
Transactions
- Award
LTIP Units
2017-03-28+11,250→ 46,443 total→ Class A Common Shares of Beneficial Interest (11,250 underlying)
Footnotes (2)
- [F1]LTIP Units are a class of limited partnership units in Hersha Hospitality Limited Partnership (the "Operating Partnership"), of which the Issuer is the general partner, and represent a profit interest in the Operating Partnership. Initially, the LTIP Units do not have full parity with the Operating Partnership's common units of limited partnership interest ("Common Units") with respect to liquidating distributions. Upon the occurrence of certain "book-up" events described in the Operating Partnership's partnership agreement, the LTIP Units can over time achieve full parity with the Common Units for all purposes. If such parity is reached, vested LTIP Units are convertible into Common Units and, upon conversion and subject to the applicable holding period, may be redeemed for cash in an amount equal to the then fair market value of an equal number of the Issuer's common shares or converted into an equal number of the Issuer's common shares, as determined by the Issuer at its election.
- [F2]Reflects restricted LTIP Units granted under the Amended and Restated Hersha Hospitality Trust 2012 Equity Incentive Plan in settlement of awards made to the Reporting Person under the 2016 annual long-term incentive program.
Documents
Issuer
HERSHA HOSPITALITY TRUST
CIK 0001063344
Entity typeoperating
IncorporatedMD
Related Parties
1- filerCIK 0001063344
Filing Metadata
- Form type
- 4
- Filed
- Mar 29, 8:00 PM ET
- Accepted
- Mar 30, 4:20 PM ET
- Size
- 6.4 KB