4//SEC Filing
Landmark Apartment Trust, Inc. 4
Accession 0001347523-15-000059
CIK 0001347523operating
Filed
Nov 23, 7:00 PM ET
Accepted
Nov 24, 10:28 AM ET
Size
8.9 KB
Accession
0001347523-15-000059
Insider Transaction Report
Form 4
Salkind Michael
Director
Transactions
- Conversion
Operating Partnership Units
2015-11-20−5,750,000→ 12,649,860.259 total(indirect: Elco North America Inc.)→ Common Stock (5,750,000 underlying) - Conversion
Common Stock
2015-11-20+5,750,000→ 7,171,834.734 total(indirect: Elco North America Inc.)
Footnotes (4)
- [F1]The Issuer issued 5,750,000 shares of its common stock to Elco North America, Inc. ("ENA") in order to redeem an equivalent number of ENA's OP Units in response to a notice of redemption delivered by ENA to the Issuer pursuant to the Operating Partnership's Partnership Agreement.
- [F2]The operating partnership units ("OP Units") represent units of limited partnership interests in the Operating Partnership. The OP Units have the rights and preferences as set forth in the partnership agreement of the Operating Partnership, as amended (the "Partnership Agreement"), and do, following a 12-month holding period, become redeemable, subject to certain limitations, in exchange for either (i) shares of common stock of the issuer on a one-for-one basis or (ii) a cash amount equal to the product of (A) the number of redeemed OP Units, multiplied by (B) the "cash amount" (as defined in the Partnership Agreement), provided, however, if the common stock of the issuer has not become listed or admitted to trading on any national securities exchange at the time of the redemption, the cash amount, notwithstanding anything to the contrary, shall be $8.15 per redeemed OP Unit.
- [F3]The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interests therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F4]The OP Units do not have an expiration date.
Documents
Issuer
Landmark Apartment Trust, Inc.
CIK 0001347523
Entity typeoperating
Related Parties
1- filerCIK 0001347523
Filing Metadata
- Form type
- 4
- Filed
- Nov 23, 7:00 PM ET
- Accepted
- Nov 24, 10:28 AM ET
- Size
- 8.9 KB