4//SEC Filing
Khan Adeel 4
Accession 0001209191-20-014243
CIK 0001571283other
Filed
Feb 27, 7:00 PM ET
Accepted
Feb 28, 8:15 PM ET
Size
15.6 KB
Accession
0001209191-20-014243
Insider Transaction Report
Form 4
Khan Adeel
Chief Financial Officer
Transactions
- Exercise/Conversion
LTIP Units
2020-02-26−32,637→ 61,313 total→ Common Stock, par value $0.01 (32,637 underlying) - Exercise/Conversion
Operating Partnership Units
2020-02-26+32,637→ 32,637 total→ Common Stock, par value $0.01 (32,637 underlying) - Exercise/Conversion
Performance Units
2020-02-26−29,344→ 0 total→ Common Stock, par value $0.01 (29,344 underlying) - Exercise/Conversion
Operating Partnership Units
2020-02-26+29,344→ 61,981 total→ Common Stock, par value $0.01 (29,344 underlying)
Footnotes (7)
- [F1]Represents LTIP Units, a class of limited partnership units in Rexford Industrial Realty, L.P., the operating partnership of the Issuer (the "Operating Partnership"), issued as long term incentive compensation subject to time-based vesting pursuant to the Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan (the "Incentive Plan"). Initially, the LTIP Units do not have full parity with common limited partnership units of the Operating Partnership ("OP Units") with respect to liquidating distributions. However, upon the occurrence of certain events described in the Operating Partnership's partnership agreement, the LTIP Units can over time achieve full parity with the OP Units for all purposes. If such parity is reached, vested LTIP Units may be converted into an equal number of OP Units on a one for one basis at any time at the request of the Reporting Person or the general partner of the Operating Partnership.
- [F2](Continued from Footnote 1) The 32,637 LTIP Units referred to herein have vested and reached such parity.
- [F3]Reflects the conversion of 32,637 vested LTIP Units into 32,637 OP Units in accordance with the Operating Partnership's operating agreement.
- [F4]Represents OP Units in the Operating Partnership. The Issuer is the general partner of the Operating Partnership. OP Units are redeemable for cash equal to the then-current market value of one share of common stock, or at the election of the Issuer, for shares of the Issuer's common stock on a one-for-one basis.
- [F5]Represents Performance Units, a class of limited partnership units in the Operating Partnership. The Performance Units were initially granted on December 29, 2016, pursuant to the Incentive Plan, and vested on December 28, 2019, based on meeting certain performance-based hurdles. Initially, the Performance Units do not have full parity with OP Units with respect to liquidating distributions. However, upon the occurrence of certain events described in the Operating Partnership's partnership agreement, the Performance Units can over time achieve full parity with the OP Units for all purposes. If such parity is reached, vested Performance Units may be converted into an equal number of OP Units on a one for one basis at any time at the request of the Reporting Person or the general partner of the Operating Partnership. The 29,344 Performance Units referred to herein have vested and reached such parity.
- [F6]Reflects the conversion of 29,344 vested Performance Units into 29,344 OP Units in accordance with the Operating Partnership's partnership agreement.
- [F7]The Reporting Person also owns the following: (i) 5,460 shares of the Issuer's 5.875% Series A Cumulative Redeemable Preferred Stock and (ii) 2,250 shares of the Issuer's 5.875% Series B Cumulative Redeemable Preferred Stock.
Documents
Issuer
Rexford Industrial Realty, Inc.
CIK 0001571283
Entity typeother
Related Parties
1- filerCIK 0001581343
Filing Metadata
- Form type
- 4
- Filed
- Feb 27, 7:00 PM ET
- Accepted
- Feb 28, 8:15 PM ET
- Size
- 15.6 KB