Lindimore Joshua 4
4 · WASHINGTON PRIME GROUP INC. · Filed Apr 22, 2021
Insider Transaction Report
Form 4
Lindimore Joshua
SVP, Head of Leasing
Transactions
- Disposition to Issuer
LTIP Units
2021-04-20−730→ 0 total→ Common Stock, par value $0.0001 per share (730 underlying)
Footnotes (2)
- [F1]Represents long-term incentive performance ("LTIP") units of Washington Prime Group, L.P. (the "Operating Partnership"), of which Washington Prime Group Inc. (the "Company" or "WPG") is the general partner, issued as long-term incentive compensation pursuant to the Operating Partnership's 2014 Stock Incentive Plan in compliance with Rule 16b-3. Each of the LTIP units have vested and, subject to certain qualifying book-up events, may be converted into a unit of limited partnership interest of the Operating Partnership ("Partnership Unit"). Each Partnership Unit may then be exchanged, at the option and discretion of the reporting person, for, as determined by the Company, a share of the Company's common stock on a one-for-one basis or cash.
- [F2]The reporting person is terminating, canceling and abandoning all the listed LTIP units. The reporting person was awarded 6,563 LTIP units on February 25, 2016 (the "Grant"). The aforementioned award was adjusted following the Company's one (1) for nine (9) reverse stock split (the "Split") that became effective on December 22, 2020. The Split impacted WPG's common shares and securities convertible or exercisable into WPG common stock. As a result of the Split, the Grant was adjusted from 6,563 LTIP units outstanding to 730 LTIP units outstanding.