4//SEC Filing
Lanzer David E. 4
Accession 0001209191-23-018650
CIK 0001571283other
Filed
Mar 13, 8:00 PM ET
Accepted
Mar 14, 7:05 PM ET
Size
17.4 KB
Accession
0001209191-23-018650
Insider Transaction Report
Form 4
Lanzer David E.
General Counsel & Secretary
Transactions
- Sale
Common Stock, par value $0.01
2023-03-14$58.16/sh−16,778$975,891→ 0 total - Conversion
Common Stock, par value $0.01
2023-03-13+16,778→ 16,778 total - Exercise/Conversion
LTIP Units
2023-03-13−16,778→ 26,098 total→ Common Stock, par value $0.01 (16,778 underlying) - Exercise/Conversion
Operating Partnership Units
2023-03-13+16,778→ 16,778 total→ Common Stock, par value $0.01 (16,778 underlying) - Conversion
Operating Partnership Units
2023-03-13−16,778→ 0 total→ Common Stock, par value $0.01 (16,778 underlying)
Holdings
- 30,904
Performance Units
→ Common Stock, par value $0.01 (30,904 underlying)
Footnotes (7)
- [F1]Represents common units of limited partnership interest ("OP Units") of Rexford Industrial Realty, L.P. (the "Operating Partnership") tendered by the Reporting Person for redemption and exchange into common stock of the Issuer in accordance with the Operating Partnership's partnership agreement.
- [F2]This transaction was executed in multiple trades at prices ranging from $58.00 to $58.35. The price reported above reflects the weighted average sale price. Full information regarding the number of shares sold at each price shall be provided upon request to the Staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
- [F3]Represents LTIP Units, a class of limited partnership units in the Operating Partnership, issued as long term incentive compensation subject to time-based vesting pursuant to the Second Amended and Restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan. Initially, the LTIP 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 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. The 16,788 LTIP Units referred to herein have vested and reached such parity.
- [F4]Reflects the conversion of 16,778 vested LTIP Units into 16,778 OP Units.
- [F5]n/a
- [F6]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.
- [F7]Performance Units are a class of limited partnership units in Operating Partnership. 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. OP Units are redeemable by the holder for an equivalent number of shares of the Issuer's common stock or for the cash value of such shares, at the Issuer's election.
Documents
Issuer
Rexford Industrial Realty, Inc.
CIK 0001571283
Entity typeother
Related Parties
1- filerCIK 0001670779
Filing Metadata
- Form type
- 4
- Filed
- Mar 13, 8:00 PM ET
- Accepted
- Mar 14, 7:05 PM ET
- Size
- 17.4 KB