4//SEC Filing
McGowan Thomas K 4
Accession 0001286043-21-000024
CIK 0001286043other
Filed
Feb 16, 7:00 PM ET
Accepted
Feb 17, 4:55 PM ET
Size
12.2 KB
Accession
0001286043-21-000024
Insider Transaction Report
Form 4
McGowan Thomas K
President & COO
Transactions
- Award
Limited Partnership Units of Kite Realty Group, L.P.
2021-02-12+22,161→ 396,918 total→ Common Shares (22,161 underlying) - Award
Limited Partnership Units of Kite Realty Group, L.P.
2021-02-12+149,254→ 149,254 totalExercise: $16.69→ Limited Partnership Units of Kite Realty Group, L.P. (149,254 underlying)
Holdings
- 106,028
Common Shares
- 5,000(indirect: By Trust)
Limited Partnership Units of Kite Realty Group, L.P.
→ Common Shares (5,000 underlying)
Footnotes (4)
- [F1]Common Shares of beneficial interest, par value of $.01 per share (the "Common Shares") are issued upon the redemption of Limited Partnership units ("LP Units") of Kite Realty Group L.P. on a one for one basis. LP Units have no expiration date.
- [F2]Represents the grant of LTIP units pursuant to the Kite Realty Group Trust 2013 Equity Incentive Plan, as amended. The LTIP units will vest in equal amounts on 2/12/2022, 2/12/2023, 2/12/2024.
- [F3]The reporting person received a grant of limited partnership units in Kite Realty Group, L.P. designated as Class AO LTIP Units ("AO LTIPs"), purusant to the Kite Realty Group Trust 2013 Equity Incentive Plan, as amended and restated as of February 28, 2019. AO LTIPs are similar to "net exercise" stock option awards and are convertible, once vested, into a number of vested limited partnership units of Kite Realty Group, L.P. designated as LTIP Units ("LTIPs"), determined by the quotient of (i) the excess of the value of a common shares of beneficial interest, par value of $.01 per share ("Common Share") of Kite Realty Group Trust as of the date of the conversion over $16.69 (the "Participation Threshold per AO LTIP"), divided by (ii) the value of a Common Share as of the date of conversion. Vested LTIPs into which AO LTIPs have been converted are further convertible, [footnote continued]
- [F4][Continued from footnote] conditioned upon minimum allocations to the capital accounts of the LTIPs for U.S. federal income tax purposes, into an equal number of limited partnership units in Kite Realty Group L.P. ("LP Units"). The resulting LP Units are redeemable by the holder for one Common Share per LP Unit or the cash value of a Common Share, at the Issuer's option. The AO LTIPs will vest and become exercisable as of the date that both of the following requirements have been met: (i) the grantee remains in continuous service from the grant date through the third anniversary of the grant date; and (ii) at any time during the period between the first year and the fifth anniversaries of the grant date, the reported closing price per Common Share appreciates at least 15% over the applicable Participation Threshold per AO LTIP (as set forth in the table above) for a minimum of 20 consecutive trading days. Under the award agreement, the AO LTIPs have a ten-year term from the grant date.
Documents
Issuer
KITE REALTY GROUP TRUST
CIK 0001286043
Entity typeother
Related Parties
1- filerCIK 0001295832
Filing Metadata
- Form type
- 4
- Filed
- Feb 16, 7:00 PM ET
- Accepted
- Feb 17, 4:55 PM ET
- Size
- 12.2 KB