TURKANIS JEFFREY SCOTT 4
4 · Veris Residential, Inc. · Filed May 3, 2022
Insider Transaction Report
Form 4
TURKANIS JEFFREY SCOTT
EVP & CHIEF INVESTMENT OFFICER
Transactions
- Award
Performance Vesting Restricted Stock Units
2022-04-29+18,231→ 18,231 totalExercise: $0.00→ Common Stock, $0.01 par value (18,231 underlying) - Award
Time Vesting Restricted Stock Units
2022-04-29+15,615→ 41,641 total - Award
Outperformance Vesting Restricted Stock Unit
2022-04-29+15,615→ 15,615 totalExercise: $0.00→ Common Stock, $0.01 par value (15,615 underlying)
Footnotes (6)
- [F1]On April 29, 2022, the reporting person was granted time vesting restricted stock units (each, a "TVRSU"). Each TVRSU represents a contingent right to receive one share of common stock, $0.01 par value (the "Common Stock"), of Veris Residential, Inc. (the "Company").
- [F2]The TVRSUs vest in three equal annual installments beginning April 29, 2023.
- [F3]On April 29, 2022, the reporting person was granted performance vesting restricted stock units (each, a "PVRSU"). Each PVRSU represents represents a contingent right to receive one share of Common Stock.
- [F4]Seventy-five percent (75%) of the PVRSUs may vest over a three year period based on the attainment of absolute total stockholder return ("TSR") metrics by the Company over a three year performance period. The remaining twenty-five percent (25%) of the PVRSUs may vest over a three year period based on the Company's TSR relative to the TSR of a select group of twenty-three (23) peer REITs over the same three year performance period. PVRSUs may vest between 0% and 160% of the "target" performance level (the number of shares listed herein).
- [F5]On April 29, 2022, the Company granted the reporting person outperformance vesting restricted stock units (each, a "OPVRSU"). Each OPVRSU represents represents a contingent right to receive one share of Common Stock.
- [F6]The OPVRSUs may vest on April 29, 2025 from 0% to 100% based on the attainment of certain levels of adjusted funds from operations per share for the Company's fiscal year ending December 31, 2024.