EQUITY RESIDENTIAL 4
4 · EQUITY RESIDENTIAL · Filed Jun 20, 2016
Insider Transaction Report
Form 4
Powers John
Executive Vice President
Transactions
- Award
Restricted Units
2016-06-16+1,132→ 1,132 totalExp: 2026-06-16→ Common Shares Of Beneficial Interest (1,132 underlying)
Footnotes (2)
- [F1]On June 16, 2016, the reporting person received a grant of Series 2016D restricted limited partnership interests ("Restricted Units") in ERP Operating Limited Partnership (the "Operating Partnership"), the operating partnership of Equity Residential (the "Company"), in connection with the Company's annual long-term compensation grant for service in 2016, prorated to June 30, 2016, the date of the reporting person's retirement from the Company. 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 June 30, 2016. In addition, the Restricted Units (including any OP Units into which they may automatically convert) are subject to a holding restriction until June 16, 2018.