4//SEC Filing
Landmark Apartment Trust, Inc. 4
Accession 0001209191-15-033816
CIK 0001347523operating
Filed
Apr 12, 8:00 PM ET
Accepted
Apr 13, 5:27 PM ET
Size
9.6 KB
Accession
0001209191-15-033816
Insider Transaction Report
Form 4
REMPPIES GUSTAV G
President and Secretary
Transactions
- Award
Long-Term Incentive Plan Units
2015-04-09+36,809.82→ 242,131.66 total→ Common Stock (36,809.82 underlying) - Award
Long-Term Incentive Plan Units
2015-04-09+18,404.91→ 260,536.57 total→ Common Stock (18,404.91 underlying)
Footnotes (5)
- [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 Holdings, LP, of which the issuer is the general partner (the "Operating Partnership"). Initially, the LTIP Units will not have full parity with the common units issued by the Operating Partnership with respect to liquidating distributions. Under the terms of the LTIP Units, the Operating Partnership will revalue its assets upon the occurrence of certain specified events, and any increase in the Operating Partnership's valuation from the time of grant until such event will be allocated first to the 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 issuer's common stock.
- [F3]The LTIP Units vested immediately.
- [F4]The LTIP Units do not have an expiration date.
- [F5]The LTIP Units vested immediately as to 25% of the shares upon grant, and 25% will vest on each of the first three anniversaries of April 9, 2015.
Documents
Issuer
Landmark Apartment Trust, Inc.
CIK 0001347523
Entity typeoperating
Related Parties
1- filerCIK 0001347523
Filing Metadata
- Form type
- 4
- Filed
- Apr 12, 8:00 PM ET
- Accepted
- Apr 13, 5:27 PM ET
- Size
- 9.6 KB