Gardner Jonathan S. 4
4 · Cottonwood Communities, Inc. · Filed Jan 11, 2022
Insider Transaction Report
Form 4
Gardner Jonathan S.
Director
Transactions
- Award
LTIP Units
2022-01-07+3,765.149→ 5,346.924 total→ Class I Common Stock, par value $0.01 per share (3,765.149 underlying)
Footnotes (2)
- [F1]The long-term incentive plan units ("LTIP Units") of Cottonwood Residential O.P., LP, a Delaware limited partnership ("Operating Partnership"), of which Cottonwood Communities, Inc., a Maryland corporation (the "Issuer"), is the sole member of the sole general partner, were granted to the reporting person on January 7, 2022 as equity incentive compensation. The LTIP Units vest one year from the date of the grant.
- [F2]Represents LTIP units granted to the reporting person as equity incentive compensation. Over time, the LTIP Units can achieve full parity with common units of limited partnership of the Operating Partnership ("OP Units") for all purposes. If such parity is reached, non-forfeitable LTIP Units may be converted into OP Units and then may be redeemed for cash equal to the then-current market value of one share of the Issuer's Class I common stock or, at the Issuer's election, for shares of the Issuer's Class I common stock on a one-for-one basis. LTIP Units do not have an expiration date.