Andrew J. Prentice 4
4 · Empire State Realty Trust, Inc. · Filed Mar 22, 2019
Insider Transaction Report
Form 4
Andrew Prentice
Chief Accounting Officer
Transactions
- Other
LTIP Units
2019-03-20−3,759→ 0 total→ Class A Common Stock (3,759 underlying) - Award
LTIP Units
2019-03-20+6,408→ 44,597 total→ Class A Common Stock (6,408 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 were granted on February 29, 2016 and were scheduled to vest based on the achievement of certain performance criteria relating to the Issuer's total return to the shareholders during a three-year performance period ending December 31, 2018. These units were forfeited due to failure to satisfy such performance criteria as of December 31, 2018.
- [F3]These LTIP Units vest 25% ratably on each of the first four anniversaries of January 1, 2019, subject to continued employment through such dates.