FRAPPIER KEN 4
4 · RAIT Financial Trust · Filed Mar 22, 2013
Insider Transaction Report
Form 4
FRAPPIER KEN
EVP Risk Management
Transactions
- Exercise/Conversion
Common Shares of Beneficial Interest
2013-03-20$5.68/sh+75,000$426,000→ 147,625 total - Disposition to Issuer
Common Shares of Beneficial Interest
2013-03-20$8.12/sh−52,463$426,000→ 95,162 total - Exercise/Conversion
Share Appreciation Right
2013-03-20−75,000→ 150,000 totalExercise: $5.68Exp: 2017-01-24→ Common Shares of Beneficial Interest (75,000 underlying) - Tax Payment
Common Shares of Beneficial Interest
2013-03-20$8.12/sh−12,235$99,348→ 82,927 total
Holdings
- 1,194(indirect: By 401(k))
Common Shares of Beneficial Interest
- 1,000(indirect: By Spouse)
Common Shares of Beneficial Interest
Footnotes (2)
- [F1]On March 20, 2013, the reporting person elected to satisfy the tax withholding obligations of the issuer with respect to the exercise of a portion of the reporting person's share appreciation rights, which exercise was being settled with common shares of the issuer, by having common shares withheld from the common shares issued in connection with such settlement. The common shares so withheld are being reported herein as a disposition to the issuer. The aggregate value of the common shares so withheld was based on the closing price of the common shares on the New York Stock Exchange on the relevant settlement date and did not exceed the minimum applicable withholding tax rate for federal (including FICA), state, local and other tax liabilities.
- [F2]These share appreciation rights vest in three equal annual installments beginning on January 24, 2013.