Bennewitz Daniel T. 4
4 · QTS Realty Trust, Inc. · Filed Mar 7, 2018
Insider Transaction Report
Form 4
Bennewitz Daniel T.
COO - Sales & Marketing
Transactions
- Tax Payment
Class A common stock
2018-03-06$33.90/sh−1,613$54,681→ 56,022 total - Conversion
Class O LTIP units of operating partnership
2018-03-05−50,000→ 0 total→ Class A units of operating partnership (26,343 underlying) - Conversion
Class A units of operating partnership
2018-03-05+26,343→ 76,343 total→ Class A common stock (26,343 underlying)
Footnotes (2)
- [F1]Reflects shares surrendered to the Issuer to satisfy tax withholding obligation in connection with the vesting of restricted shares.
- [F2]Each Class O LTIP unit is convertible by the Company's operating partnership or by the holder into Class A units at any time, and upon such equalization of the capital account of a Class O LTIP unit (and full vesting of the Class O LTIP unit, if such unit is subject to vesting and being converted by the holder), the Class O LTIP unit will be convertible into a number of Class A units equal to (i) the Class O LTIP unit's capital account divided by (ii) the capital account balance of a Class A unit (i.e., in a manner similar to a typical stock appreciation right), subject to certain exceptions and adjustments. Class A units became redeemable for cash or, at the Company's election, shares of the Company's Class A common stock on a one-for-one basis in November 2014.