Apple REIT Ten, Inc. 4
4 · Apple REIT Ten, Inc. · Filed Sep 6, 2016
Insider Transaction Report
Form 4
KNIGHT GLADE M
DirectorCEO
Transactions
- Other
Series B Convertible Preferred Shares
2016-09-01−179,009→ 300,991 total - Disposition to Issuer
Units
2016-09-01−90,910→ 0 total - Disposition to Issuer
Series B Convertible Preferred Shares
2016-09-01−300,991→ 0 total - Disposition to Issuer
Units
2016-09-01−54,546→ 0 total(indirect: By Spouse)
Footnotes (5)
- [F1]The reporting person previously agreed to assign certain benefits (if any) to certain officers, family members and other employees of the issuer associated with 179,009 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) 1,903,355 Apple Hospitality common shares having a closing market value of $18.94 per share on the effective date of the Merger, and (ii) approximately $3,646,274 in cash.
- [F3]Consisting of One Common Share and One Series A Preferred Share
- [F4]Disposed of pursuant to merger agreement between issuer and Apple Hospitality in exchange for (i) 47,460 Apple Hospitality common shares having a closing market value of $18.94 per share on the effective date of the Merger, and (ii) approximately $90,920 in cash.
- [F5]Disposed of pursuant to merger agreement between issuer and Apple Hospitality in exchange for (i) 28,473 Apple Hospitality common shares having a closing market value of $18.94 per share on the effective date of the Merger, and (ii) approximately $54,546 in cash.