EQUITY RESIDENTIAL 4
4 · EQUITY RESIDENTIAL · Filed Feb 8, 2016
Insider Transaction Report
Form 4
Powers John
Executive Vice President
Transactions
- Award
Restricted Units
2016-02-04+2,808→ 2,808 totalExp: 2026-02-04→ Common Shares Of Beneficial Interest (2,808 underlying)
Footnotes (2)
- [F1]On February 4, 2016, the reporting person received a grant of Series 2016B restricted limited partnership interests ("Restricted Units") in ERP Operating Limited Partnership (the "Operating Partnership"), the operating partnership of Equity Residential (the "Company"), in lieu of restricted shares of the Company as part of the Company's annual grant of long-term compensation. Restricted Units are a class of partnership interest that automatically convert into an equal number of limited partnership interests of the Operating Partnership ("OP Units") when the capital account related to the Restricted Units reaches a specified target for federal income tax purposes (provided such target is reached within ten years of issuance). Subject to the vesting requirements of the grant and certain other restrictions, OP Units are exchangeable by the holder for common shares of the Company on a one-for-one basis or the cash value of such shares, at the Company's option. The Restricted Units reflected in this report also include any OP Units into which such Restricted Units automatically convert.
- [F2]The Restricted Units are scheduled to vest on February 4, 2019.