Empire State Realty Trust, Inc. 4
4 · Empire State Realty Trust, Inc. · Filed May 16, 2017
Insider Transaction Report
Form 4
Biddle Leslie D.
Director
Transactions
- Award
LTIP Units
2017-05-12+9,694→ 9,694 totalFrom: 2017-05-12→ Class A Common Stock (9,694 underlying)
Footnotes (1)
- [F1]Represents LTIP Units ("LTIP Units"), a class of units of Empire State Realty OP, L.P. (the "Operating Partnership"). The LTIP Units are covertible 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. The LTIP Units, which vest ratably on each of the first three anniversaries of the date of grant, were granted under the First Amended and Restated Empire State Realty Trust, Inc. and Empire State Realty OP, L.P. 2013 Equity Incentive Plan.