POST PROPERTIES INC 4
4 · POST PROPERTIES INC · Filed Nov 30, 2016
Insider Transaction Report
Form 4
Konas Charles A.
Executive Vice Pres.
Transactions
- Disposition to Issuer
Stock Option
2016-11-30−880→ 0 totalExercise: $44.05Exp: 2022-01-25→ Common Stock (880 underlying) - Tax Payment
Common Stock
2016-11-30$65.02/sh−1,932$125,619→ 20,039.3 total - Disposition to Issuer
Units in 401(k) Plan
2016-11-30−1,430.414→ 0 total→ Common Stock (1,430.414 underlying) - Disposition to Issuer
Stock Option
2016-11-30−2,790→ 0 totalExercise: $50.30Exp: 2023-01-28→ Common Stock (2,790 underlying) - Disposition to Issuer
Stock Option
2016-11-30−9,010→ 0 totalExercise: $57.80Exp: 2026-02-01→ Common Stock (9,010 underlying) - Gift
Common Stock
2016-11-28−1,529→ 22,707.3 total - Tax Payment
Common Stock
2016-11-30$65.02/sh−2,820$183,356→ 17,219.3 total - Tax Payment
Common Stock
2016-11-30$65.02/sh−736$47,855→ 21,971.3 total - Disposition to Issuer
Common Stock
2016-11-30−17,219.3→ 0 total - Disposition to Issuer
Stock Option
2016-11-30−3,560→ 0 totalExercise: $46.93Exp: 2024-01-31→ Common Stock (3,560 underlying) - Disposition to Issuer
Stock Option
2016-11-30−3,080→ 0 totalExercise: $60.40Exp: 2025-02-03→ Common Stock (3,080 underlying)
Footnotes (6)
- [F1]Balance includes 226 shares purchased under the Issuer's Employee Stock Purchase Plan (the "Plan"), during the purchase periods January 1, 2016 to June 30, 2016 and July 1, 2016 to November 18, 2016.
- [F2]The balance includes 11,448 restricted shares that had not vested as of the Transaction Date.
- [F3]As of November 30, 2016, Issuer was acquired by Mid-America Apartment Communities, Inc. ("MAA") pursuant to a merger agreement dated August 15, 2016 (Merger Agreement"), as described in the Issuer/MAA Joint Proxy Statement dated September 30, 2016 and filed by MAA with the SEC on that date (the "Merger"). Each outstanding share of Issuer Common Stock was converted into .71 shares of MAA Common Stock ("Exchange Ratio") with cash paid for fractional shares. All dispositions by Reporting Person in the Merger were approved in advance by Issuer's Board of Directors.
- [F4]Issuer outstanding unvested restricted stock units ("RSU's") became fully vested under the Merger Agreement and Issuer shares were withheld for payment of withholding income taxes. All vested RSU's were then converted into MAA common stock at the Exchange Ratio.
- [F5]The issuer's outside administrator for the employees 401(k) plan held issuer stock in a pooled fund as a participant investment option. Participant contributions designated to be invested in issuer common stock were accounted for as units of interest in the issuer fund. As of 11/30/2016, the equivalent of 1430.414026 shares of common stock were held in the issuer 401(k) Plan. These shares were converted into shares of MAA common stock at the Exchange Ratio.
- [F6]Issuer outstanding stock options, if not yet vested became vested, and all Issuer stock options were converted at the Exchange Ratio into MAA fully vested stock options under the terms of each outstanding Issuer stock option. Cash was paid for fractional shares.