Doyle Neil 4
4 · DCT Industrial Trust Inc. · Filed Apr 13, 2012
Insider Transaction Report
Form 4
Doyle Neil
Managing Director
Transactions
- Award
LTIP Units
2012-04-13+42,373→ 42,373 total→ Common Stock (42,373 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 election 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 42,373 LTIP Units vest over five years: 25% on March 31, 2015; 25% on March 15, 2016, and 50% on March 31, 2017.