Junquera Oscar 4
4 · NORTHSTAR REALTY FINANCE CORP. · Filed May 30, 2012
Insider Transaction Report
Form 4
Junquera Oscar
Director
Transactions
- Award
LTIP Units
2012-05-25+11,299→ 35,359 total→ Common Stock (11,299 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 Finance Corp. (the "Company"). Conditioned on minimum allocations 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 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, at the option of the Company in its capacity as general partner 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 pursuant to the Company's Amended and Restated 2004 Omnibus Stock Incentive Plan and are immediately vested. The amount of LTIP Units was determined by dividing the fixed grant value of $60,000 by the closing sale price of the Company's common stock on the New York Stock Exchange on the grant date.
- [F3]Of these 35,359 LTIP Units, 10,204 vest quarterly over a three year vesting period beginning April 29, 2011 and 25,155 were immediately vested.