4//SEC Filing
Nia Mahbod 4
Accession 0001415889-24-011461
CIK 0000924901other
Filed
Apr 23, 8:00 PM ET
Accepted
Apr 24, 6:00 PM ET
Size
17.5 KB
Accession
0001415889-24-011461
Insider Transaction Report
Form 4
Nia Mahbod
DirectorCHIEF EXECUTIVE OFFICER
Transactions
- Exercise/Conversion
Common Stock, $0.01 par value
2024-04-22+51,139→ 348,603 total - Tax Payment
Common Stock, $0.01 par value
2024-04-22$14.66/sh−104,691$1,535,294→ 366,838 total - Gift
Common Stock, $0.01 par value
2024-04-22+110,351→ 368,454 total(indirect: By family limited liability company) - Exercise/Conversion
Outperformance Vesting Restricted Stock Units
2024-04-22−122,926→ 0 totalExercise: $0.00→ Common Stock, $0.01 par value (122,926 underlying) - Exercise/Conversion
Common Stock, $0.01 par value
2024-04-22+122,926→ 471,529 total - Gift
Common Stock, $0.01 par value
2024-04-22−110,351→ 256,487 total - Exercise/Conversion
Performance Vesting Restricted Stock Units
2024-04-22−227,791→ 0 totalExercise: $0.00→ Common Stock, $0.01 par value (227,791 underlying)
Footnotes (6)
- [F1]On April 22, 2024, the reporting person vested in 51,139 performance vesting restricted stock units and (each, a "PVRSU") and forfeited 176,652 PVRSUs that did not vest at the end of the applicable three year performance period. Each PVRSU represented a contingent right to receive one share of common stock, $0.01 par value (the "Common Stock") of Veris Residential, Inc. (the "Company').
- [F2]On April 22, 2024, the reporting person vested in 122,926 outperformance vesting restricted stock units and (each, an "OPVRSU") that vested based upon performance criteria achieved as of December 31, 2023. Each OPVRSU represented a contingent right to receive one share of the Company's Common Stock.
- [F3]Forfeiture of shares for net share settlement of taxes on shares issued upon vesting of time vesting restricted stock units, PVRSUs and OPVRSUs.
- [F4]Represents transfer of shares to a family limited liability company in a transaction exempt from Section 16 pursuant to Rule 16a-13. The transfer is being reported on a voluntary basis to reconcile the reporting person's beneficial ownership as previously reported under Section 16.
- [F5]Seventy-five percent (75%) of the PVRSUs were eligible to vest over a three year period ended April 20, 2024 based on the attainment of absolute total stockholder return ("TSR") metrics by the Company. The remaining twenty-five percent (25%) of the PVRSUs were eligible to vest over a three year period ended April 21, 2024 based on the Company's TSR relative to the TSR of a select group of twenty-four (24) peer REITs over the same three year performance period.
- [F6]Each OPVRSU was eligible to vest on April 22, 2024 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, 2023.
Documents
Issuer
Veris Residential, Inc.
CIK 0000924901
Entity typeother
Related Parties
1- filerCIK 0001655968
Filing Metadata
- Form type
- 4
- Filed
- Apr 23, 8:00 PM ET
- Accepted
- Apr 24, 6:00 PM ET
- Size
- 17.5 KB