New York REIT, Inc. 4
4 · New York REIT, Inc. · Filed Dec 28, 2016
Insider Transaction Report
Form 4
Happel Michael A.
EVP and CIO
Transactions
- Conversion
LTIP Units
2016-12-26−229,714→ 826,347 total→ Common Stock (229,714 underlying) - Conversion
Common Stock
2016-12-26+229,714→ 1,099,061 total
Footnotes (2)
- [F1]On December 26, 2016, as part of the arrangements providing for the transition of advisory services from the Issuer's advisor to the Issuer's service provider, the reporting person's issued and outstanding earned and unvested Long Term Incentive Plan Units ("LTIP Units") vested automatically. As a result, on December 26, 2016, the reporting person redeemed 229,714 LTIP Units in exchange for an equal number of shares of common stock. Terms of the LTIP Units were previously reported and described on the reporting person's Form 4 filed on July 13, 2016.
- [F2]Includes 826,347 shares issuable in exchange for OP Units. 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.