4//SEC Filing
Miller Thomas Groton 4
Accession 0001180154-05-000069
CIK 0000918958other
Filed
May 2, 8:00 PM ET
Accepted
May 3, 7:02 PM ET
Size
10.2 KB
Accession
0001180154-05-000069
Insider Transaction Report
Form 4
Miller Thomas Groton
Managing Director, Investments
Transactions
- Award
Units of limited partnership of Operating Partnership
2005-04-28+75,000→ 75,000 totalExp: 2010-06-30→ Common Shares (150,000 underlying) - Disposition to Issuer
Option (Right to Buy)
2005-04-28−51,420→ 48,580 totalExercise: $32.98Exp: 2013-06-26→ Units (51,420 underlying)
Footnotes (6)
- [F1]As condition to and in exchange for grant described in FN 3, Reporting Person on April 28, 2005, in transaction exempt under Rule 16b-3(e), relinquished to Operating Partnership for cancellation Unit options covering 51,420 Units.
- [F2]Option granted June 27, 2003, by Crescent Real Estate Equities Limited Partnership ("Operating Partnership") to purchase Units of limited partnership ("Units") of Operating Partnership. Each Unit exchangeable for two Common Shares of Issuer stock, subject to normal antidilution adjustments, or cash equivalent to market value of two Common Shares of Issuer stock, at discretion of Issuer.
- [F3]Satisfaction on April 28, 2005 of conditions to grant by Operating Partnership pursuant to 2004 Crescent Real Estate Equities Limited Partnership Long-Term Incentive Plan in transaction exempt under Rule 16b-3(d). 20% of Units vest when trailing 40 trading day closing sale price average ("Average Close") equals or exceeds $19; additional 20%, when Average Close equals or exceeds $20; additional 20%, when Average Close equals or exceeds $21; additional 20%, when Average Close equals or exceeds $22.50; and final 20%, when Average Close equals or exceeds $24. General Partner of Operating Partnership has discretionary authority to establish alternative vesting schedules based on Issuer's achievement of annual performance targets as determined from time to time by the Compensation Committee of General Partner.
- [F4]Crescent Real Estate Equities Limited Partnership ("Operating Partnership")
- [F5]Beginning on second anniversary date of grant, each vested Unit exchangeable for cash equivalent to market value of two Common Shares of Issuer stock or, at discretion of Issuer, but subject to shareholder approval, for two Common Shares of Issuer stock, subject to normal antidilution adjustments.
- [F6]Applicable solely to unvested Units; not applicable to vested Units
Documents
Issuer
CRESCENT REAL ESTATE EQUITIES CO
CIK 0000918958
Entity typeother
Related Parties
1- filerCIK 0001322390
Filing Metadata
- Form type
- 4
- Filed
- May 2, 8:00 PM ET
- Accepted
- May 3, 7:02 PM ET
- Size
- 10.2 KB