4//SEC Filing
NORTHSTAR REALTY 4
Accession 0001144204-07-058577
CIK 0001273801operating
Filed
Nov 5, 7:00 PM ET
Accepted
Nov 6, 5:23 PM ET
Size
8.2 KB
Accession
0001144204-07-058577
Insider Transaction Report
Form 4
McCready Richard J
COO and EVP
Transactions
- Award
LTIP Units
2007-11-06+25,140→ 396,637 total→ Common Stock (25,140 underlying)
Footnotes (3)
- [F1]Represents units of partnership interest which are structured as profits interest ("LTIP Units") in Northstar Realty Finance Limited Partnership ("NRFLP"), a majority-owned subsidiary and the operating partnership of Northstar Realty Financial Corp. (the "Company"). Conditioned on minimum allocation to the capital accounts of the LTIP Unit for federal income tax purposes, each LTIP Unit may be converted, at the election of the holder, into one common unit of partnership interest in NRFLP ("OP Units"). Each of the OP Units underlying these LTIP Units are redeemable at the election of the OP Unit holder for (1) cash equal to the then fair market value of one (1) share of common stock, par value $0.01 per share of the Company (the "Common Stock"), or (2) at the option of the Company in its capacity as general partnership of NRFLP, one (1) share of Common Stock. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.
- [F2]These LTIP Units were awarded in connection with the Company's having met the return hurdle under the Company's 2004 Long-Term Incentive Bonus Plan ("2.5% Plan") for the one-year period ended September 30, 2007. These LTIP Units are immediately vested.
- [F3]Of the 396,637 LTIP Units, 56,754 represent Mr. McCready's interest in NRF Employee, LLC, which was issued a certain number of LTIP Units by NRFLP on October 29, 2004 and November 19, 2004 (the "McCready LLC Interest"). The McCready LLC Interest is currently vested and entitles Mr. McCready to beneficial ownership of 56,754 of the Employee LLC LTIP Units. Mr. McCready may redeem such McCready LLC Interest for LTIP Units on a one-for-one basis. The right to redeem the McCready LLC Interest for LTIP Units does not have an expiration date. Additionally, of the 396,637 LTIP Units, 187,441 vest as set forth in footnote 2 to the Form 4 filed by Mr. McCready on October 5, 2007, 72,816 vest quarterly over a three year vesting period beginning April 29, 2007, 29,346 vest quarterly over a three year vesting period beginning April 29, 2006 and 25,140 were awarded in connection with the Company having met the return hurdle under the Company's 2.5% Plan for the one-year period ended September 30, 2006 and were immediately vested.
Documents
Issuer
NORTHSTAR REALTY
CIK 0001273801
Entity typeoperating
IncorporatedMD
Related Parties
1- filerCIK 0001273801
Filing Metadata
- Form type
- 4
- Filed
- Nov 5, 7:00 PM ET
- Accepted
- Nov 6, 5:23 PM ET
- Size
- 8.2 KB