4/A//SEC Filing
Christensen Gregg 4/A
Accession 0001209191-22-002977
CIK 0001692951other
Filed
Jan 10, 7:00 PM ET
Accepted
Jan 11, 7:33 PM ET
Size
8.3 KB
Accession
0001209191-22-002977
Insider Transaction Report
Form 4/AAmended
Christensen Gregg
See Remarks
Transactions
- Other
CROP LTIP Units
2021-05-07+209,712.76→ 209,712.76 total→ Class I Common Stock, par value $0.01 per share (209,712.76 underlying)
Footnotes (5)
- [F1]On May 7, 2021, Cottonwood Residential II, Inc. ("CRII") merged with and into Cottonwood Communities GP Subsidiary, LLC ("Merger Sub"), a wholly owned subsidiary of Cottonwood Communities, Inc. (the "Issuer"), with Merger Sub surviving the merger (the "REIT Merger"). Immediately following the REIT Merger, Cottonwood Communities O.P., LP, the operating partnership of the Issuer, merged with and into Cottonwood Residential O.P., LP (the "Operating Partnership" or "CROP"), a Delaware limited partnership and the operating partnership of CRII, (the "Partnership Merger," and together with the REIT Merger, the "CRII Merger"), with CROP surviving the Partnership Merger. As of the effective time of the CRII Merger, Merger Sub, of which the Issuer is the sole member, became the sole general partner of the Operating Partnership.
- [F2]The units were held by the reporting person prior to the CRII Merger, as units that were a derivative security of CRII. Following the CRII Merger the units became a derivative security of the Issuer.
- [F3]Represents long-term incentive plan units ("CROP LTIP Units") of the Operating Partnership, of which a wholly owned subsidiary of the Issuer is the sole general partner, granted to the reporting person as equity incentive compensation prior to the time of the CRII Merger. Over time, the CROP LTIP Units can achieve full parity with common units of limited partnership of CROP ("CROP Units") for all purposes. If such parity is reached, non-forfeitable CROP LTIP Units may be converted into CROP 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. CROP LTIP Units do not have an expiration date.
- [F4]On May 12, 2021, the reporting person filed a Form 4 which disclosed 203,875.69 CROP LTIP Units held by the reporting person. This amount inadvertently omitted CROP LTIP Units held related to accrued dividends paid in additional CROP LTIP Units on an earned performance award of CROP LTIP Units. This amended report is being filed to correct this error.
- [F5]Represents CROP LTIP Units received by the reporting person as equity incentive compensation. The CROP LTIP units are vested as of the date of filing.
Documents
Issuer
Cottonwood Communities, Inc.
CIK 0001692951
Entity typeother
Related Parties
1- filerCIK 0001809877
Filing Metadata
- Form type
- 4/A
- Filed
- Jan 10, 7:00 PM ET
- Accepted
- Jan 11, 7:33 PM ET
- Size
- 8.3 KB