4//SEC Filing
Isakson John A 4
Accession 0001415889-22-006872
CIK 0001481832other
Filed
Jun 22, 8:00 PM ET
Accepted
Jun 23, 3:19 PM ET
Size
9.0 KB
Accession
0001415889-22-006872
Insider Transaction Report
Form 4
Isakson John A
See Remarks
Transactions
- Disposition to Issuer
Class A Units
2022-06-23−20,551→ 0 total→ Common Stock (20,551 underlying) - Disposition to Issuer
Common Stock, par value $0.01 per share
2022-06-23−117,108→ 0 total
Footnotes (3)
- [F1]On June 23, 2022, pursuant to the Agreement and Plan of Merger, dated as of February 16, 2022 (as amended from time to time, the "Merger Agreement"), by and among Pike Parent LLC, Pike Merger Sub I LLC ("Merger Sub I"), Pike Merger Sub II LLC ("Merger Sub II"), Pike Merger Sub III LLC, Preferred Apartment Communities, Inc. ("PAC"), Preferred Apartment Communities Operating Partnership, L.P . (the "Partnership"), and PAC Operations, LLC, PAC merged with and into Merger Sub I (the "Company Merger") and each share of PAC common stock issued and outstanding immediately prior to the effective time of the Company Merger was automatically cancelled and converted into the right to receive an amount in cash equal to $25.00 per share, without interest.
- [F2]Includes 78,471 shares of unvested time-based restricted common stock. Pursuant to the Merger Agreement, each share of unvested time-based restricted common stock granted pursuant to PAC's 2019 Stock Incentive Plan (the "Long-Term Incentive Plan") outstanding immediately prior to the effective time of the Company Merger automatically became fully vested and all restrictions and reacquisition rights thereon lapsed. All shares of PAC common stock represented thereby were considered outstanding for all purposes under the Merger Agreement and therefore automatically cancelled and converted into the right to receive an amount in cash equal to $25.00 per share, without interest.
- [F3]On June 23, 2022, pursuant to the Merger Agreement, Merger Sub II merged with and into the Partnership (the "Partnership Merger") and each Class A unit of the Partnership (a "Class A Partnership Unit"), or fraction thereof, that was issued and outstanding immediately prior to the effective time of the Partnership Merger held by the Reporting Person was automatically cancelled and converted into the right to receive an amount in cash equal to $25.00 per Class A Partnership Unit, without interest.
Documents
Issuer
PREFERRED APARTMENT COMMUNITIES INC
CIK 0001481832
Entity typeother
Related Parties
1- filerCIK 0001746631
Filing Metadata
- Form type
- 4
- Filed
- Jun 22, 8:00 PM ET
- Accepted
- Jun 23, 3:19 PM ET
- Size
- 9.0 KB