WP Glimcher Inc. 4
4 · WP Glimcher Inc. · Filed Feb 29, 2016
Insider Transaction Report
Form 4
GLIMCHER MICHAEL P
DirectorVice Chairman & CEO
Transactions
- Award
LTIP Units
2016-02-25+94,527→ 94,527 total→ Common Stock, par value $0.0001 per share (94,527 underlying)
Footnotes (2)
- [F1]Represents long-term incentive performance ("LTIP") units of Washington Prime Group, L.P (the "Operating Partnership"), of which WP Glimcher Inc. (the "Company") is the general partner, issued as long-term incentive compensation pursuant to the Operating Partnership's 2014 Stock Incentive Plan (the "Incentive Plan") in compliance with Rule 16b-3. Upon vesting, each LTIP unit may be converted into a unit of limited partnership interest of the Operating Partnership ("Partnership Unit"). Each Partnership Unit may be exchanged for a share of the Company's common stock, or cash, as selected by the Company.
- [F2]The LTIP units were granted under the Incentive Plan. Subject to certain exceptions, 33% of such LTIP units will become vested on January 1, 2017 and each January 1st thereafter until the last tranche vests on January 1, 2019.