Patadia Ankit B. 4
4 · Janus Living, Inc. · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Janus Living (JAN) EVP Ankit Patadia Receives Award of 10,000 LTIP Units
What Happened
Ankit B. Patadia, EVP and Treasurer of Janus Living, was granted 10,000 LTIP Units (a derivative award) on 2026-03-23. The units were granted at $0.00 (no cash paid) and therefore the reported acquisition value is $0. These LTIP Units are intended as profits interests and can convert into OP Units (membership interests in Janus OP) and ultimately be redeemable or convertible into the Issuer’s Class A-1 common stock under the stated conversion/redemption mechanisms.
Key Details
- Transaction date: 2026-03-23; Form 4 filed 2026-03-24 (appears timely).
- Transaction type/code: Award/Grant (derivative) — reported as “A”.
- Quantity: 10,000 LTIP Units granted at $0.00 (acquisition value $0).
- Shares owned after transaction: Not disclosed in this filing.
- Footnotes:
- F1: LTIP Units are intended to qualify as profits interests, have no expiration, and may convert to OP Units; OP Units are redeemable for cash equal to the FMV of one share of Class A-1 common stock or may be converted one-for-one into Class A-1 shares.
- F2: These LTIP Units are fully vested and were granted in connection with the Issuer’s initial public offering.
Context
This is a compensation-related award (not a market purchase or sale). Because the units are fully vested per the filing and are structured as profits interests, they are a form of equity compensation that can provide upside tied to company performance and may ultimately convert into economic or voting interests in the issuer. As always, awards do not, by themselves, indicate an insider’s market view.
Insider Transaction Report
- Award
LTIP Units
[F1][F2]2026-03-23+10,000→ 10,000 total→ Class A-1 Common Stock (10,000 underlying)
Footnotes (2)
- [F1]Represents a class of common units of membership interest in Janus Living OP, LLC, ("Janus OP"), the operating subsidiary of the Issuer, designated as LTIP Units ("LTIP Units") intended to qualify as profits interests for U.S. federal income tax purposes. LTIP Units do not have an expiration date. Upon achieving equivalent capital account balance per unit and any applicable vesting conditions, the LTIP Units are convertible at the election of the holder into common units of membership interest in Janus OP (the "OP Units"). The OP Units are redeemable, at the election of the holder, for cash equal to the fair market value of one share of the Issuer's Class A-1 Common Stock or, at the option of Janus OP, convertible to shares of the Issuer's Class A-1 Common Stock on a one-for-one basis, and have no expiration date.
- [F2]Represents fully vested LTIP Units granted in connection with the Issuer's initial public offering of Class A-1 Common Stock.