4//SEC Filing
PARIKH ASHISH R 4
Accession 0001063344-23-000074
CIK 0001063344other
Filed
May 11, 8:00 PM ET
Accepted
May 12, 4:35 PM ET
Size
8.0 KB
Accession
0001063344-23-000074
Insider Transaction Report
Form 4
PARIKH ASHISH R
Chief Financial Officer
Transactions
- Conversion
Class A Common Shares of Beneficial Interest
2023-05-11+200,000→ 301,001 total - Conversion
LTIP Units
2023-05-11−200,000→ 757,239 total→ Class A Common Shares of Beneficial Interest (200,000 underlying)
Footnotes (2)
- [F1]200,000 of the Reporting Person's LTIP Units in Hersha Hospitality Limited Partnership (the "Operating Partnership") were exchanged for common units of limited partnership interest ("Common Units"), and then were immediately converted into an equal number of shares of the Issuer's Class A Common Shares.
- [F2]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.
Documents
Issuer
HERSHA HOSPITALITY TRUST
CIK 0001063344
Entity typeother
Related Parties
1- filerCIK 0001273644
Filing Metadata
- Form type
- 4
- Filed
- May 11, 8:00 PM ET
- Accepted
- May 12, 4:35 PM ET
- Size
- 8.0 KB