4//SEC Filing
Christensen Gregg 4
Accession 0001209191-22-051517
CIK 0001692951other
Filed
Sep 28, 8:00 PM ET
Accepted
Sep 29, 2:19 PM ET
Size
10.4 KB
Accession
0001209191-22-051517
Insider Transaction Report
Form 4
Christensen Gregg
See Remarks
Transactions
- Award
CROP Units
2022-09-27+71,275.804→ 324,838.989 total(indirect: By LLC)→ Class I Common Stock, par value $0.01 per share (71,275.804 underlying)
Holdings
- 56,795.294
CROP Units
→ Class I Common Stock, par value $0.01 per share (56,795.294 underlying) - 3,481,504.91(indirect: By LLC)
CROP Units
→ Class I Common Stock, par value $0.01 per share (3,481,504.91 underlying)
Footnotes (4)
- [F1]Represents common units of limited partnership ("CROP Units") of Cottonwood Communities, Inc.'s (the "Issuer") operating partnership, Cottonwood Residential O.P., LP (the "Operating Partnership" or "CROP"), a Delaware limited partnership. CROP Units may be redeemed for cash equal to the net asset value ("NAV") per share, determined pursuant to valuation procedures adopted by the Issuer's board of directors, 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. The CROP Units are vested as of the date of issuance and have no expiration date.
- [F2]Reflects the acquisition of CROP Units in connection with the mergers of Cottonwood Multifamily Opportunity Fund, Inc. ("CMOF") with and into Cottonwood Communities GP Subsidiary, LLC ("Merger Sub") (the "Company Merger"), a subsidiary of the Issuer, and of Cottonwood Multifamily Opportunity Fund O.P., LP ("CMOF OP"), CMOF's operating partnership, with and into CROP (the "CMOF OP Merger"). In connection with the CMOF OP Merger, each CMOF OP Limited Partnership Unit was converted into 0.8669 CROP Units.
- [F3]Includes CROP Units which were converted from long term incentive plan units ("LTIP Units") of the Operating Partnership. The LTIP Units were originally granted to the reporting person as equity incentive compensation. Over time, LTIP Units can achieve full parity with CROP Units for all purposes. If such parity is reached, non-forfeitable LTIP Units automatically convert into CROP Units.
- [F4]The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
Documents
Issuer
Cottonwood Communities, Inc.
CIK 0001692951
Entity typeother
Related Parties
1- filerCIK 0001809877
Filing Metadata
- Form type
- 4
- Filed
- Sep 28, 8:00 PM ET
- Accepted
- Sep 29, 2:19 PM ET
- Size
- 10.4 KB