New York REIT, Inc. 4
4 · New York REIT, Inc. · Filed Feb 3, 2016
Insider Transaction Report
Form 4
KAHANE WILLIAM M
Director
Transactions
- Conversion
Operating Partnership Units
2016-02-01−350,544→ 87,637 total→ Common Stock (350,544 underlying) - Conversion
Common Stock
2016-02-01+350,544→ 403,247 total
Footnotes (2)
- [F1]On February 1, 2016, the reporting person redeemed 350,544 units of limited partnership interest ("OP Units") in New York Recovery Operating Partnership, L.P. (the "Operating Partnership") in exchange for 350,544 shares of common stock of New York REIT, Inc. (the "Company") in accordance with the terms and conditions of the limited partnership agreement of the Operating Partnership.
- [F2]OP Units are exchangeable for cash or, at the option of the Operating Partnership, shares of the Company's common stock on a one-to-one basis. OP Units are exchangeable, except under certain limited circumstances, beginning one year from the date of issuance, which includes the holding period of any units that were converted into OP Units, and have no expiration date.