Cochran James D 4
4 · DCT Industrial Trust Inc. · Filed Feb 27, 2009
Insider Transaction Report
Form 4
Cochran James D
President
Transactions
- Award
LTIP Units
2009-02-25+82,111→ 265,163 total→ Common Stock (82,111 underlying)
Footnotes (2)
- [F1]Represents units of limited partnership interest in DCT Industrial Operating Partnership LP ("DCTOP"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in DCTOP ("Common OP Unit"). Each Common OP Unit acquired upon conversion of an LTIP Unit may be presented for redemption at the elction of the holder, for cash equal to the fair market value of a share of the Issuer's Common Stock, except that the Issuer may, at its election, acquire each Common OP Unit so presented for one share of Common Stock.
- [F2]The 82,111 LTIP Units vest over four years: 25% on January 1, 2010 and 25% on each January 1st thereafter.