Silver Bay Realty Trust Corp. 4
4 · Silver Bay Realty Trust Corp. · Filed Oct 2, 2014
Insider Transaction Report
Form 4
TAYLOR BRIAN
Director
Transactions
- Other
Common Units of Silver Bay Operating Partnership L.P.
2014-09-30+1,487,674→ 1,487,674 total(indirect: Owned by Pine River Domestic Management L.P.)→ Common Stock, par value $0.01 per share (1,487,674 underlying)
Holdings
- 40,449
Common Stock, par value $0.01 per share
Footnotes (3)
- [F1]Common units are redeemable for cash or, at the company's election, shares of its common stock, par value $0.01 per share, on a one-for-one basis. Common units may be redeemed after one year unless the general partner of Silver Bay Operating Partnership L.P., in its discretion, approves an earlier redemption. Common units have no expiration date.
- [F2]The common units were issued in exchange for membership interests in PRCM Real Estate Advisers LLC, the former external manager (the "Manager") of Silver Bay Realty Trust Corp. (the "Company"). There was no market for these membership interests and the value of the interests is estimated to be $23.7 million based on a company stock price of $15.96 as of July 21, 2014, the last trading day prior to announcement by the Company that it was in advanced discussions concerning the transaction.
- [F3]The securities are owned directly by Pine River Domestic Management L.P (the "Partnership"). Mr. Taylor is the sole member of Pine River Capital Management LLC (the "LLC"), an entity which is the general partner of the Partnership. Mr. Taylor disclaims beneficial ownership of any of the securities owned by the Partner other than to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Taylor is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.