4//SEC Filing
Burkart John F. 4
Accession 0001209191-23-001906
CIK 0000766704other
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 4:48 PM ET
Size
16.5 KB
Accession
0001209191-23-001906
Insider Transaction Report
Form 4
WELLTOWER INC.WELL
Burkart John F.
Vice Chairman and COO
Transactions
- Disposition to Issuer
Common Stock
2023-01-03−2,407→ 864 total - Award
LTIP Units
2023-01-03+2,407→ 2,407 total→ Common (2,407 underlying) - Award
Option Units
2023-01-03+42,898→ 42,898 totalExp: 2032-01-12→ Common (42,898 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
2023-01-03−42,898→ 0 totalExercise: $86.31Exp: 2032-01-12→ Common (42,898 underlying) - Award
Other Stock Units
2023-01-03+45,305→ 45,305 total→ Common (45,305 underlying)
Footnotes (5)
- [F1]These restricted stock units (the "RSUs") in respect of shares of common stock, par value $1.00 per share ("Common Shares"), of Welltower Inc. (the "Issuer") were previously granted to the reporting person and provided for time-based vesting. On January 3, 2023, the Issuer canceled the unvested RSUs upon surrender to the Issuer by the reporting person (the "Canceled RSUs").
- [F2]In exchange for the Canceled RSUs, the reporting person received a replacement award of membership interests in Welltower OP LLC ("Welltower OP"), a subsidiary of the Issuer, designated as LTIP Units ("LTIP Units"), which LTIP Units are intended to qualify as profits interests for US federal income tax purposes. The vesting schedule for each LTIP Unit is the same as the vesting schedule for the corresponding Canceled RSU. The LTIP Units, if and as they become vested, are convertible, conditioned upon the satisfaction of minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into Class A Common Units in Welltower OP ("OP Units"). The resulting OP Units may be exchanged by the reporting person for Common Shares or the equivalent cash value of Common Shares, as determined by the Issuer.
- [F3]This option to purchase 42,898 Common Shares of the Issuer was previously granted to the reporting person and provided for time-based vesting. On January 3, 2023, the Issuer canceled the unvested portion of the option upon surrender to the Issuer by the reporting person (the "Canceled Option").
- [F4]In exchange for each Canceled Option, the reporting person received a replacement award of membership interests in Welltower OP designated as Option Units ("Option Units"), which Option Units are intended to qualify as profits interests for US federal income tax purposes. The vesting schedule for Option Units is the same as the vesting schedule for the applicable corresponding Canceled Option. Upon vesting, the Option Units are convertible at the reporting person's election into vested LTIP Units that are convertible into OP Units. The resulting OP Units may be exchanged by the reporting person for Common Shares or the equivalent cash value of Common Shares, as determined by the Issuer.
- [F5]Soley in order to reserve Common Shares to satisfy any exchange in respect of OP Units as contemplated herein that might occur in the future, the reporting person also received an award of Other Stock Units under the Welltower Inc. 2022 Long-Term Incentive Plan (the "2022 Plan"). The award of the Other Stock Units provides the reporting person with the ability to acquire Common Shares under the 2022 Plan only through the exchange of OP Units for those shares and in no other manner. Upon the exchange of OP Units for Common Shares, the reporting person will relinquish all rights to the exchanged OP Units. Any Other Stock Units that may be remaining after all OP Units have been exchanged will be immediately canceled for no consideration.
Documents
Issuer
WELLTOWER INC.
CIK 0000766704
Entity typeother
Related Parties
1- filerCIK 0001492460
Filing Metadata
- Form type
- 4
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 4:48 PM ET
- Size
- 16.5 KB