Manelis Michael L 4
4 · EQUITY RESIDENTIAL · Filed Feb 5, 2024
Insider Transaction Report
Form 4
Manelis Michael L
Executive Vice President & COO
Transactions
- Award
Non-qualified Stock Option (Right to Buy)
2024-02-01+33,648→ 33,648 totalExercise: $60.96Exp: 2034-02-01→ Common Shares Of Beneficial Interest (33,648 underlying) - Award
Common Shares Of Beneficial Interest
2024-02-01+6,076→ 32,692 total - Award
Restricted Units
2024-02-01+12,873→ 12,873 totalExp: 2034-02-01→ Common Shares Of Beneficial Interest (12,873 underlying)
Holdings
- 1,326(indirect: SERP Account)
Common Shares Of Beneficial Interest
Footnotes (7)
- [F1]Represents restricted shares scheduled to vest on February 1, 2027.
- [F2]Direct total includes restricted shares of Equity Residential scheduled to vest in the future.
- [F3]Represents shares owned by Principal Trust Company, as Trustee of the Equity Residential Supplemental Executive Retirement Plan (the "SERP"), for the benefit of the reporting person.
- [F4]On February 1, 2024, the reporting person received a grant of Series 2024B restricted limited partnership interests ("RUs") in ERP Operating Limited Partnership (the "OP"), 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.
- [F5]RUs are a class of partnership interest that automatically convert into an equal number of limited partnership interests of the OP ("OP Units") when the capital account related to the RUs 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 RUs reflected in this report also include any OP Units into which such RUs automatically convert.
- [F6]The Restricted Units are scheduled to vest on February 1, 2027.
- [F7]Represents share options scheduled to vest in three equal installments on February 1, 2025, February 1, 2026 and February 1, 2027.