4//SEC Filing
Landmark Apartment Trust of America, Inc. 4
Accession 0001181431-13-046915
CIK 0001347523operating
Filed
Aug 28, 8:00 PM ET
Accepted
Aug 29, 2:57 PM ET
Size
7.5 KB
Accession
0001181431-13-046915
Insider Transaction Report
Form 4
REMPPIES GUSTAV G
President and Secretary
Transactions
- Award
Long-Term Incentive Plan Units
2013-08-27+30,674.84→ 177,714.84 total→ Common Stock (30,674.84 underlying)
Holdings
- 10,502.016
Common Stock
Footnotes (4)
- [F1]The long-term incentive plan units ("LTIP" Units) are a special class of partnership interest in the Registrant's operating partnership. Initially, the LTIP Units will not have full parity with the common units issued by the Registrant's operating partnership with respect to liquidating distributions. Under the terms of the LTIP Units, the Registrant's operating partnership will revalue its assets upon the occurrence of certain specified events, and any increase in the Registrant's operating partnership's valuation from the time of grant until such event will be allocated first to the holders of LTIP Units to equalize the capital accounts of such holders with the capital accounts of holders of common units.
- [F2]Upon equalization of the capital accounts of the holders of LTIP Units with the other holders of common units, the LTIP Units will achieve full parity with the common units for all purposes, including with respect to liquidating distributions. If such parity is reached, vested LTIP Units may be converted into an equal number of common units at any time, and thereafter enjoy all the rights of common units, including the right to exchange such units for shares of the Registrant's common stock.
- [F3]The LTIP Units do not have an expiration date.
- [F4]Approximately 453 shares of common stock were acquired pursuant to the Issuer's distribution reinvestment plan.
Documents
Issuer
Landmark Apartment Trust of America, Inc.
CIK 0001347523
Entity typeoperating
Related Parties
1- filerCIK 0001347523
Filing Metadata
- Form type
- 4
- Filed
- Aug 28, 8:00 PM ET
- Accepted
- Aug 29, 2:57 PM ET
- Size
- 7.5 KB