BECK NANCY F 4
4 · TOWN & COUNTRY TRUST · Filed Oct 27, 2003
Insider Transaction Report
Form 4
BECK NANCY F
Director
Transactions
- Will/Inheritance
Limited Partnership Interest
2003-10-23+2,152,299→ 2,152,299 total(indirect: by the Estate of Alfred Lerner)Exercise: $0.00From: 1988-08-08Exp: 1988-08-08→ Common Shares (2,152,299 underlying)
Footnotes (2)
- [F1]The Estate of Alfred Lerner (the "Estate"), due to the passing of Mr. Lerner on October 23, 2002, acquired by operation of law an 11.74% limited partnership interest (the "Partnership Interest") in The TC Operating Limited Partnership, a Maryland limited partnership (the "Operating Partnership") of which The Town and Country Trust ("TCT"), together with a wholly-owned subsidiary, is the sole general partner. The Partnership Interest now owned by the Estate has the economic equivalence of 2,152,299 TCT Common Shares. Pursuant to the terms of the partnership agreement of the Operating Partnership, the Estate may convert the Partnership Interest into TCT Common Shares and the Estate is therefore deemed to be the benefical owner of 2,152,299 TCT Common Shares. Upon the one year anniversary of Mr. Lerner's passing, Ms. Beck, as an executor and beneficiary of the Estate, is reporting her beneficial ownership of such interest.
- [F2]This field is not applicable.