Chatham Lodging Trust 4
4 · Chatham Lodging Trust · Filed Feb 1, 2016
Insider Transaction Report
Form 4
Transactions
- Award
LTIP Units
2016-01-28+4,506→ 4,506 total→ Common Shares (4,506 underlying)
Footnotes (1)
- [F1]1. Represents restricted units of limited partnership interest ("LTIP Units") in Chatham Lodging, L.P. (the "Operating Partnership"), of which the Issuer is the general partner, granted to the reporting person on January 28, 2016. Vested LTIP Units, upon achieving parity with the Operating Partnership units pursuant to the terms of the Operating Partnership's agreement of limited partnership, may be exchanged at any time at the election of the holder for Operating Partnership units on a one-for-one basis or, at the Issuer's option, an equivalent amount of cash. One-third of the reporting person's LTIP Units vest on each of the first three anniversaries of the date of grant, subject to the reporting person's continued employment with the Issuer. The LTIP Units were issued pursuant to the Issuer's Equity Incentive Plan and have no expiration dates.