Cumenal Frederic 4

What Happened
Frederic Cumenal, a director of Veris Residential, had 47,132 common shares and 37,692.433 vested phantom stock units cancelled on May 27, 2026 as part of the company’s merger. Per the merger agreement, each share (and each share underlying the phantom units) was converted into the right to receive $19.00 in cash. The combined consideration for the cancelled interests is approximately $1,611,664.23 (47,132 × $19 = $895,508.00; 37,692.433 × $19 ≈ $716,156.23), subject to applicable tax withholdings.

Key Details

• Transaction date: May 27, 2026 (effective time of the merger)
• Consideration: $19.00 per share (cash), total ≈ $1,611,664.23 before withholding
• Shares/units cancelled: 47,132 common shares; 37,692.433 vested phantom stock units (total 84,824.433)
• Shares owned after transaction: reporting person’s shares and these vested phantom units were cancelled (no remaining interest from these holdings)
• Footnotes: F1 = common shares cancelled and converted to cash under the Merger Agreement; F2 = vested phantom stock units likewise converted to cash under the Issuer’s deferred compensation plan
• Filing timeliness: Reported on May 27, 2026 (same day of the effective transaction); no late filing indicated

Context
This was not an open-market sale but a merger-related disposition: holdings were converted into merger consideration per the acquisition agreement. Vested phantom units are a form of deferred compensation that, per the agreement, were cash-settled based on underlying share count × $19. Because the disposition resulted from the merger, it reflects contract terms rather than an individual trading decision.