4//SEC Filing
Landmark Apartment Trust of America, Inc. 4
Accession 0001209191-14-022434
CIK 0001347523operating
Filed
Mar 20, 8:00 PM ET
Accepted
Mar 21, 3:12 PM ET
Size
7.2 KB
Accession
0001209191-14-022434
Insider Transaction Report
Form 4
Lafon Betty Mechelle
CFO and Treasurer
Transactions
- Award
Long-Term Incentive Plan Units
2014-03-19+3,190→ 3,190 total→ Common Stock (3,190 underlying)
Footnotes (4)
- [F1]The long-term incentive plan units ("LTIP Units") are a special class of partnership interest in the issuer's operating partnership, Landmark Apartment Trust of America Holdings, LP, of which the issuer is the general partner. Initially, the LTIP Units will not have full parity with the common units issued by the issuer's operating partnership with respect to liquidating distributions. Under the terms of the LTIP Units, the issuer'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 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 vested immediately.
- [F4]The LTIP Units do not have an expiration date.
Documents
Issuer
Landmark Apartment Trust of America, Inc.
CIK 0001347523
Entity typeoperating
Related Parties
1- filerCIK 0001347523
Filing Metadata
- Form type
- 4
- Filed
- Mar 20, 8:00 PM ET
- Accepted
- Mar 21, 3:12 PM ET
- Size
- 7.2 KB