4/A//SEC Filing
Empire State Realty Trust, Inc. 4/A
Accession 0001209191-16-117656
$ESRTCIK 0001541401operating
Filed
May 4, 8:00 PM ET
Accepted
May 5, 10:03 AM ET
Size
9.8 KB
Accession
0001209191-16-117656
Insider Transaction Report
Form 4/AAmended
KARP DAVID A
See Remarks
Transactions
- Award
LTIP Units
2016-02-29+45,630→ 45,630 total→ Class A Common Stock (45,630 underlying) - Award
LTIP Units
2016-02-29+50,015→ 168,431 total→ Class A Common Stock (50,015 underlying)
Footnotes (4)
- [F1]Represents long term incentive plan units ("LTIP Units"), a class of units of Empire State Realty OP, L.P. (the "Operating Partnership"). Conditioned upon sufficient allocations to the capital accounts of the LTIP Units for federal income tax purposes, LTIP Units are convertible by the reporting person, upon vesting, into an equivalent number of units of limited partnership interests ("Operating Partnership Units") of the Operating Partnership, which are redeemable by the holder for shares of Class A Common Stock of Empire State Realty Trust, Inc. (the "Issuer") on a one-for-one basis or the cash value of such shares, at the Issuer's option. The rights to convert LTIP units into Operating Partnership Units and redeem Operating Partnership Units do not have expiration dates.
- [F2]These LTIP Units vest 25% ratably on each of the first four anniversaries of January 1, 2016, subject to continued employment through such dates.
- [F3]This Form 4 amends the original Form 4 filed on March 2, 2016 to reflect updated Monte Carlo simulation results subsequently received from an independent compensation consultant with respect to the grant date fair value of the LTIP Units.
- [F4]These LTIP Units are scheduled to vest conditioned on the achievement of certain performance criteria based on the Issuer's total return to shareholders during a three-year performance period ending December 31, 2018. Any earned LTIP units will vest 50% on January 1, 2019 and 50% on January 1, 2020, subject to continued employment. In accordance with applicable Form 4 reporting requirements, the foregoing excludes 136,892 LTIP Units also granted on February 29, 2016 that are scheduled to vest conditioned on the achievement of certain performance criteria based on the Issuer's relative total return to shareholders measured against two different industry-specific indices.
Documents
Issuer
Empire State Realty Trust, Inc.
CIK 0001541401
Entity typeoperating
IncorporatedMD
Related Parties
1- filerCIK 0001541401
Filing Metadata
- Form type
- 4/A
- Filed
- May 4, 8:00 PM ET
- Accepted
- May 5, 10:03 AM ET
- Size
- 9.8 KB