Sotherly Hotels Inc. 4
4 · Sotherly Hotels Inc. · Filed Mar 4, 2014
Insider Transaction Report
Form 4
Sims Kim
Director
Transactions
- Award
Operating Partnership Units
2014-02-28+8,671→ 357,687 total(indirect: By Partnership)From: 2015-02-28→ Common Stock (8,671 underlying)
Footnotes (4)
- [F1]Operating Partnerships Units in Sotherly Hotels LP, Sotherly Hotels Inc.'s operating partnership.
- [F2]Holders of operating partnership units of Sotherly Hotels LP may not exercise the right to have such units redeemed prior to the one year anniversary of the issuance of the units without prior approval of the board of directors.
- [F3]There is no expiration to the redemption right.
- [F4]Sotherly Hotels LP is required to redeem the operating partnership units in exchange for cash, or at Sotherly Hotels Inc.'s option, shares of Sotherly Hotels Inc.'s common stock. The cash redemption amount per unit is based on the market price of the common stock at the time of redemption.