Chatham Lodging Trust 4
4 · Chatham Lodging Trust · Filed Mar 31, 2017
Insider Transaction Report
Form 4
Willis Peter
EVP & Chief Investment Officer
Transactions
- Award
LTIP Units
2017-01-28+1,616→ 50,200 total→ Common Shares (1,616 underlying)
Footnotes (1)
- [F1]The Company met the performance criteria under the January 28, 2016 LTIP Performance Award. This LTIP issuance represents the vesting of the first tranche of the award and 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. Vested LTIP Units, upon achieving parity with the Operating Partnership units pursuant to the terms of the Operating Partnership's limited partnership agreement, 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. Issuing LTIP Units subject to the LTIP Performance Award on the next two anniversaries of the date of grant is subject to meeting the performance criteria as well as continued employment with the Issuer.