Altshuler Barry 4
4 · EQUITY RESIDENTIAL · Filed Feb 17, 2021
Insider Transaction Report
Form 4
Altshuler Barry
Executive Vice President
Transactions
- Award
Restricted Units
2021-02-12+8,761→ 8,761 totalExp: 2031-02-12→ Common Shares Of Beneficial Interest (8,761 underlying) - Award
Restricted Units
2021-02-12+3,504→ 3,504 totalExp: 2031-02-12→ Common Shares Of Beneficial Interest (3,504 underlying)
Footnotes (4)
- [F1]On February 12, 2021, the reporting person received a grant of Series 2021B 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 12, 2024.
- [F3]On February 12, 2021, the reporting person received a grant of Series 2021C restricted limited partnership interests ("Restricted Units") in ERP Operating Limited Partnership (the "Operating Partnership), the operating partnership of Equity Residential (the "Company"), as an alternative to cash in connection with all or a portion of their performance bonus. 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 certain 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 vested on February 12, 2021, the date of the grant and remain subject to a two year hold requirement.