Santee David S 4
4 · EQUITY RESIDENTIAL · Filed Jan 18, 2018
Insider Transaction Report
Form 4
Santee David S
Executive Vice President
Transactions
- Award
Common Shares Of Beneficial Interest
2018-01-17+650→ 31,899 total - Award
Restricted Units
2018-01-17+1,945→ 1,945 totalExp: 2025-02-05→ Common Shares Of Beneficial Interest (1,945 underlying)
Footnotes (4)
- [F1]Represents restricted shares of Equity Residential (the "Company") issued in connection with the settlement of an award under the Company's 2015 Long-Term Incentive Plan (the "2015 LTI Plan") which are scheduled to vest on February 5, 2018.
- [F2]Direct total includes restricted shares of the Company scheduled to vest in the future.
- [F3]Represents restricted limited partnership interests ("Restricted Units") in ERP Operating Limited Partnership (the "Operating Partnership"), the operating partnership of the Company, retained in connection with the settlement of an award under the 2015 LTI Plan. 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.
- [F4]The Restricted Units are scheduled to vest on February 5, 2018.