4//SEC Filing
CRESCENT REAL ESTATE EQUITIES CO 4
Accession 0001180154-05-000092
CIK 0000918958operating
Filed
May 17, 8:00 PM ET
Accepted
May 18, 8:58 PM ET
Size
14.9 KB
Accession
0001180154-05-000092
Insider Transaction Report
Form 4
CRENSHAW JERRY R
Sr VP, CFO and CAO
Transactions
- Award
Units of limited partnership of Operating Partnership
2005-05-16+50,000→ 50,000 totalExp: 2010-06-30→ Common Shares (100,000 underlying)
Holdings
- 127,692
Common Shares
- 165,000
Employee Stock Option (Right to Buy)
Exercise: $15.81Exp: 2009-11-04→ Common Shares (165,000 underlying) - 86,932
Option (Right to Buy)
Exercise: $35.02Exp: 2012-02-18→ Units (86,932 underlying) - 75,000
Units of limited partnership of Operating Partnership
Exp: 2010-06-30→ Common Shares (150,000 underlying) - 6,463(indirect: By 401(k))
Common Shares
Footnotes (10)
- [F1]Information based on most recent available plan statement of Crescent Real Estate Equities, Ltd. 401(k) Plan.
- [F10]Not Applicable
- [F2]Option granted February 19, 2002, by Operating Partnership, in transaction exempt under Rule 16b-3, 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]Crescent Real Estate Equities Limited Partnership ("Operating Partnership")
- [F4]Beginning on second anniversary of 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.
- [F5]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.
- [F6]Applicable solely to unvested Units; not applicable to vested Units
- [F7]Option granted November 5, 1999, pursuant to Issuer's Second Amended and Restated 1995 Stock Incentive Plan; vested and became exercisable in 20% increments on first, second, third, fourth and fifth anniversary dates of grant.
- [F8]Beginning on second anniversary of date of grant, and subject to six-month holding period following vesting, 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.
- [F9]Grant on May 16, 2005, by Operating Partnership pursuant to 2005 Crescent Real Estate Equities Limited Partnership Long-Term Incentive Plan in transaction exempt under Rule 16b-3(d). 20% of Units vest when the average of the closing sale prices of a Common Share for the preceding 40 trading days ("Average Close") equals or exceeds $21; an additional 20%, when Average Close equals or exceeds $22.50; an additional 20%, when Average Close equals or exceeds $24; an additional 20%, when Average Close equals or exceeds $25.50; and the final 20%, when Average Close equals or exceeds $27. 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.
Documents
Issuer
CRESCENT REAL ESTATE EQUITIES CO
CIK 0000918958
Entity typeoperating
IncorporatedTX
Related Parties
1- filerCIK 0000918958
Filing Metadata
- Form type
- 4
- Filed
- May 17, 8:00 PM ET
- Accepted
- May 18, 8:58 PM ET
- Size
- 14.9 KB