4//SEC Filing
New York REIT, Inc. 4
Accession 0001144204-16-112870
CIK 0001474464operating
Filed
Jul 12, 8:00 PM ET
Accepted
Jul 13, 9:00 PM ET
Size
7.4 KB
Accession
0001144204-16-112870
Insider Transaction Report
Form 4
Radesca Nicholas
Chief Financial Officer
Transactions
- Other
LTIPs
2016-05-25+24,170→ 24,170 total→ Common Stock (24,170 underlying)
Footnotes (3)
- [F1]On April 15, 2014, New York Recovery Advisors, LLC (the "Advisor") was issued 8,880,579 units of limited partnership interest in the issuer's operating partnership designated as "LTIP Units" under the 2014 Advisor Multi-Year Outperformance Agreement among the issuer, the operating partnership and the Advisor (the "OPP"). On May 25, 2016, 805,679 LTIP Units were earned by the Advisor under the terms of the OPP. Also on May 25, 2016, the reporting person, an employee of the Advisor, received 24,170 LTIP Units pursuant to his employment agreement with the Advisor through a transfer from the Advisor in accordance with the applicable requirements of the OPP. The transfer of these LTIP units occurred on July 7, 2016.
- [F2]Under the terms of the OPP, subject to the Advisor's continued service through the vesting date, earned LTIP Units will vest 1/3 on each of April 15, 2017, April 15, 2018 and April 15, 2019. At the time the Advisor's average capital account balance with respect to an LTIP Unit is economically equivalent to the average capital account balance of a unit of limited partnership interest in the issuer's operating partnership designated as an "OP Unit," the LTIP Unit has been earned and it has been vested for 30 days, the Advisor, in its sole discretion, will be entitled to convert such LTIP Unit into an OP Unit in accordance with the provisions of the limited partnership agreement of the issuer's operating partnership. Any earned and vested LTIP Units may be converted into OP Units.
- [F3]OP Units are exchangeable for cash or, at the option of the issuer's operating partnership, shares of the issuer'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 (e.g., LTIP Units) and have no expiration date.
Documents
Issuer
New York REIT, Inc.
CIK 0001474464
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001474464
Filing Metadata
- Form type
- 4
- Filed
- Jul 12, 8:00 PM ET
- Accepted
- Jul 13, 9:00 PM ET
- Size
- 7.4 KB