KIERNAN ROBERT J 4
4 · Global Medical REIT Inc. · Filed Aug 28, 2020
Insider Transaction Report
Form 4
KIERNAN ROBERT J
CFO and Treasurer
Transactions
- Award
LTIP Unit (Right to Buy)
2020-08-28+21,242→ 175,072 total→ Common Stock (21,242 underlying)
Footnotes (2)
- [F1]Represents units of limited partnership interest ("LTIP Units") in Global Medical REIT L.P. (the "OP"), the operating partnership of the Issuer. The Issuer's Compensation Committee of its Board of Directors determined that 50% of the LTIP Units vested and became nonforfeitable as a result of meeting certain market based performance criteria as of August 23, 2020 and 50% of the LTIP Units will vest on August 23, 2021, pursuant to the grant award agreement stipulations. The performance-based LTIP Units were awarded pursuant to an LTIP Unit performance-based vesting agreement, the form of which was filed as Exhibit 99.3 to the Issuer's Current Report on Form 8-K filed on March 6, 2017, and pursuant to the Issuer's 2016 Equity Incentive Plan.
- [F2]As described in the OP's partnership agreement, vested LTIP Units may be exchanged at any time after vesting, subject to certain conditions, for cash or, at the election of the Issuer, for shares of Common Stock on a one-for-one basis. LTIP Units have no expiration date.