Morales Julio E 4
4 · Chatham Lodging Trust · Filed Apr 27, 2010
Insider Transaction Report
Form 4
Morales Julio E
EVP & Chief Financial Officer
Transactions
- Award
LTIP UNITS
2010-04-23+15,435→ 15,435 total→ Common Shares (15,435 underlying)
Footnotes (1)
- [F1]Represents restricted units of limited partnership interest ("LTIP Units") in Chatham Lodging, L.P. (the "Operating Partnership"), of which the Issuer is the general partner, granted to the reporting person on April 23, 2010. Vested LTIP Units, upon achieving parity with the Operating Partnership units pursuant to the terms of the Operating Partnership's agreement of limited partnership, may be exchanged at any time at the election of the holder for Operating Partnership units on a one-for-one basis or, at the Issuer's option, an equivalent amount of cash. 3,087 of the reporting person's LTIP Units vest on each of the first five anniversaries of the date of grant, subject to the reporting person's continued employment with the Issuer. The LTIP Units were issued pursuant to the Issuer's Equity Incentive Plan and have no expiration date.