American Residential Properties, Inc. 4
4 · American Residential Properties, Inc. · Filed Apr 24, 2015
Insider Transaction Report
Form 4
Porter Lani B
SVP, Operations
Transactions
- Award
LTIP Units
2015-04-24+5,498→ 22,589 total→ Common Stock (5,498 underlying)
Footnotes (3)
- [F1]Represent restricted units of limited partnership interest ("LTIP Units") in American Residential Properties OP, L.P. (the "OP"), the operating partnership of American Residential Properties, Inc. (the "Issuer"). The LTIP Units will vest ratably and become nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on January 1, 2016, 2017 and 2018. The LTIP Units were issued pursuant to the Issuer's 2012 Equity Incentive Plan and have no expiration date.
- [F2]As described in the OP's partnership agreement, vested LTIP Units, after achieving parity with Common Units of the OP, may be exchanged at any time for cash or, at the election of the Issuer, for shares of Common Stock of the Issuer on a one-for-one basis. LTIP Units have no expiration date.
- [F3]Awarded pursuant to an LTIP Unit time-based vesting agreement (2015) entered into on April 24, 2015, the form of which was filed as Exhibit 10.1 to the Issuer's Form 8-K filed on April 17, 2015.