TURKANIS JEFFREY SCOTT 4
4 · Veris Residential, Inc. · Filed Mar 14, 2024
Insider Transaction Report
Form 4
TURKANIS JEFFREY SCOTT
EVP & CHIEF INVESTMENT OFFICER
Transactions
- Award
Performance Vesting Restricted Stock Units
2024-03-12+23,701→ 23,701 totalExercise: $0.00→ Common Stock, $0.01 par value (23,701 underlying) - Award
Outperformance Vesting Restricted Stock Units
2024-03-12+21,930→ 21,930 totalExercise: $0.00→ Common Stock, $0.01 par value (21,930 underlying) - Award
Time Vesting Restricted Stock Units
2024-03-12+21,930→ 89,740 total
Footnotes (6)
- [F1]On March 12, 2024, 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 March 12, 2025.
- [F3]On March 12, 2024, 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]Fifty percent (50%) 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 fifty percent (50%) 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 nineteen (19) 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 March 12, 2024, 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 March 12, 2027 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, 2026.