4//SEC Filing
Ladder Capital Corp 4
Accession 0001104659-14-009421
$LADRCIK 0001577670operating
Filed
Feb 12, 7:00 PM ET
Accepted
Feb 13, 8:37 AM ET
Size
9.2 KB
Accession
0001104659-14-009421
Insider Transaction Report
Form 4
Durst Douglas
Director
Transactions
- Award
Class A Common Stock
2014-02-11+4,412→ 4,412 total - Other
Units and Class B common stock
2014-02-11+3,132,307→ 3,132,307 total(indirect: See footnote)→ Class A common stock (3,132,307 underlying)
Footnotes (5)
- [F1]Fifty percent of each restricted stock award granted in connection with the initial public offering of common stock (the "IPO") of Ladder Capital Corp ("LCC") is subject to specified performance-based vesting criteria, and the remaining fifty percent of each restricted stock award is subject to time-based vesting criteria. The performance-vesting restricted stock granted to Mr. Durst will vest in three equal installments on December 31 of each of 2014, 2015 and 2016. The time-vesting restricted stock granted to Mr. Durst will vest in three equal installments on the first three anniversaries of the date of grant, subject to his continued employment on the applicable vesting dates.
- [F2]Includes new LP units in Ladder Capital Finance Holdings LLLP (the "LP Units") and Class B common stock of LCC (the "Class B Common Stock") exchangeable into Class A common stock of LCC (the "Class A Common Stock").
- [F3]Pursuant to the Amended and Restated LLLP Agreement entered into in connection with the closing of the IPO, holders of the LP Units and Class B Common Stock issued in connection with the reorganization, which occurred immediately prior to the consummation of the IPO, may, from time to time, exchange LP Units paired with an equal number of shares of Class B Common Stock for shares of Class A Common Stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends, and reclassifications.
- [F4]The LP Units and Class B Common Stock together are convertible, at the holder's election, at any time after its issuance. This conversion right has no expiration date.
- [F5]Shares are held directly by Seymour Holding Corporation, however, investment decisions with respect to the shares are made by The Durst Manager LLC. SRDA Manager, LLC is the managing member of The Durst Manager LLC and Mr. Durst is Co-President of SRDA Manager, LLC. As a result, the Mr. Durst may be deemed to have voting and dispositive power with respect to the shares of common stock held by Seymour Holding Corporation.
Documents
Issuer
Ladder Capital Corp
CIK 0001577670
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001577670
Filing Metadata
- Form type
- 4
- Filed
- Feb 12, 7:00 PM ET
- Accepted
- Feb 13, 8:37 AM ET
- Size
- 9.2 KB