Apple REIT Ten, Inc. 4
4 · Apple REIT Ten, Inc. · Filed Sep 6, 2016
Insider Transaction Report
Form 4
MCKENNEY DAVID S
President of Capital Markets
Transactions
- Other
Series B Convertible Preferred Shares
2016-09-01+30,090→ 30,090 total - Disposition to Issuer
Series B Convertible Preferred Shares
2016-09-01−30,090→ 0 total
Footnotes (2)
- [F1]Glade M. Knight, the record holder of all the outstanding Series B Convertible Preferred Shares of the issuer, previously agreed to assign certain benefits (if any) to the reporting person associated with 30,090 Series B Convertible Preferred Shares, including the right of conversion upon the occurrence of certain events, including a merger of the issuer. On September 1, 2016, the issuer merged (the "Merger") with and into a wholly-owned subsidiary of Apple Hospitality REIT, Inc. ("Apple Hospitality").
- [F2]Disposed of pursuant to merger agreement between issuer and Apple Hospitality in exchange for (i) 190,277 Apple Hospitality common shares having a closing market value of $18.94 per share on the effective date of the Merger, and (ii) approximately $364,517 in cash.