Verrone Roberto Angelo 4
4 · Clipper Realty Inc. · Filed Apr 11, 2019
Insider Transaction Report
Form 4
Verrone Roberto Angelo
Director
Transactions
- Exercise/Conversion
Operating Partnership Units
2019-04-09−1,917→ 0 total→ Common Stock (1,917 underlying) - Exercise/Conversion
Common Stock
2019-04-09+1,917→ 1,917 total
Footnotes (1)
- [F1]Represents limited partnership units ("OP Units") of Clipper Realty L.P. (the "Operating Partnership"), a direct subsidiary of Clipper Realty, Inc. (the "Company"), received by the reporting person in exchange for an equivalent number of vested long term incentive plan units ("LTIP Units"), a class of units of the Operating Partnership. Each OP Unit is redeemable at the request of the holder for cash in an amount equal to the price of a share of common stock of the Company or, at the election of the Company, one share of its common stock. The Company has elected to redeem each OP Unit for one share of its common stock. The rights to convert LTIP Units into OP Units and redeem OP Units do not have expiration dates.