4//SEC Filing
McCready Richard J 4
Accession 0001144204-08-003084
CIK 0001273801other
Filed
Jan 17, 7:00 PM ET
Accepted
Jan 18, 5:23 PM ET
Size
8.2 KB
Accession
0001144204-08-003084
Insider Transaction Report
Form 4
McCready Richard J
COO and EVP
Transactions
- Award
LTIP Units
2008-01-16+116,959→ 513,596 total→ Common Stock (116,959 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 granted as long-term incentive compensation pursuant to the Company's 2004 Omnibus Stock Incentive Plan and vest quarterly over a three year vesting period beginning April 29, 2008.
- [F3]Of the 513,596 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 513,596 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 for each of the one and two-year periods ended September 30, 2006 and September 30, 2007, respectively, in connection with the Company having met the return hurdles under the Company's 2004 Long-Term Incentive Bonus Plan, and were immediately vested.
Documents
Issuer
NORTHSTAR REALTY
CIK 0001273801
Entity typeother
Related Parties
1- filerCIK 0001306763
Filing Metadata
- Form type
- 4
- Filed
- Jan 17, 7:00 PM ET
- Accepted
- Jan 18, 5:23 PM ET
- Size
- 8.2 KB