CRUMMY KEVIN ANDREW 4
4 · Douglas Emmett Inc · Filed Dec 31, 2019
Insider Transaction Report
Form 4
CRUMMY KEVIN ANDREW
Chief Investment Officer
Transactions
- Award
Long Term Incentive Plan Units
2019-12-27+61,873→ 61,873 totalExercise: $0.00From: 2019-12-31Exp: 2029-12-27→ Common Stock (61,873 underlying)
Footnotes (3)
- [F1]Long term incentive plan units ("LTIP Units") in Douglas Emmett Properties, LP, a DE limited partnership (the "Operating Partnership") granted pursuant to the 2016 Omnibus Stock Incentive Plan of Douglas Emmett, Inc. ("Issuer"). Issuer is the sole stockholder of the general partner of the Operating Partnership. Upon vesting, each LTIP Unit can be converted into one partnership common unit ("OP Unit") of the Operating Partnership, which is ultimately exchangeable into common stock of Issuer, only, if applicable, after achievement of a specified percentage increase in Gross Asset Values of the assets of the Operating Partnership. LTIP Units not converted into OP Units within 10 years of the grant date will be forfeited. Upon the occurrence of certain events, OP Units are redeemable by the holder, without consideration, for an equivalent number of shares of Issuer's common stock or for the cash value of such shares, at Issuer's election.
- [F2]LTIP Units vest 30% on December 31, 2019. The remaining 70% of LTIP Units vest in equal installments on December 31, 2020, 2021 and 2022.
- [F3]Derivative securities owned by the Reporting Person include the LTIP Units reported herein, an additional 66,842 LTIP Units granted pursuant to Issuer's 2016 Omnibus Stock Incentive Plan, and 303,884 OP Units.