4//SEC Filing
KARP DAVID A 4
Accession 0001209191-18-022096
CIK 0001541401other
Filed
Mar 28, 8:00 PM ET
Accepted
Mar 29, 4:39 PM ET
Size
9.3 KB
Accession
0001209191-18-022096
Insider Transaction Report
Form 4
KARP DAVID A
See Remarks
Transactions
- Award
LTIP Units
2018-03-27+59,041→ 59,041 total→ Class A Common Stock (59,041 underlying) - Award
LTIP Units
2018-03-27+47,966→ 265,566 total→ Class A Common Stock (47,966 underlying)
Footnotes (3)
- [F1]These represent 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, 2018, subject to continued employment through such dates.
- [F3]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, 2020. Any earned LTIP units will vest 50% on January 1, 2021 and 50% on January 1, 2022, subject to continued employment. In accordance with applicable Form 4 reporting requirements, the foregoing excludes 177,124 LTIP Units also granted on March 27, 2018 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 typeother
Related Parties
1- filerCIK 0001273446
Filing Metadata
- Form type
- 4
- Filed
- Mar 28, 8:00 PM ET
- Accepted
- Mar 29, 4:39 PM ET
- Size
- 9.3 KB