4//SEC Filing
Silver Bay Realty Trust Corp. 4
Accession 0001557255-14-000082
CIK 0001557255operating
Filed
Oct 1, 8:00 PM ET
Accepted
Oct 2, 4:56 PM ET
Size
10.9 KB
Accession
0001557255-14-000082
Insider Transaction Report
Form 4
KESSLER IRVIN R
Director
Transactions
- Other
Common Units of Silver Bay Operating Partnership L.P.
2014-09-30+743,837→ 743,837 total(indirect: By LLC)→ Common Stock, par value $0.01 per share (743,837 underlying)
Holdings
- 1,808,048(indirect: Owned by Provident Premier Master Fund Ltd)
Common Stock, par value $0.01 per share
- 462,604(indirect: By Partnership)
Common Stock, par value $0.01 per share
- 297(indirect: By LLC)
Common Stock, par value $0.01 per share
Footnotes (6)
- [F1]These securities are owned directly by Provident Premier Master Fund Ltd. (the "Fund") for which Deephaven, Inc. ("Deephaven") serves as the investment manager. Mr. Kessler is the sole owner, director and Chief Executive Officer of Deephaven. Mr. Kessler disclaims beneficial ownership of any of the securities owned by the Fund other than to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Kessler is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F2]These securities are owned directly by the Kessler Family Limited Partnership (the "Partnership") for which Mr. Kessler serves as the General Partner. Mr. Kessler disclaims beneficial ownership of any of the securities owned by the Partnership other than to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Kessler is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F3]These securities are owned directly by Walleye Trading LLC ("Walleye") for which Mr. Kessler is the Chief Operating Officer. Mr. Kessler disclaims beneficial ownership of any of the securities owned by Walleye other than to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Kessler is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F4]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.
- [F5]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 $11.9 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.
- [F6]These securities are owned directly by Provident Real Estate Advisors LLC (the "Provident Fund"), which is owned by Deephaven for which Mr. Kessler is the sole owner, director and Chief Executive Officer. Mr. Kessler disclaims beneficial ownership of any of the securities owned by the Provident Fund other than to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Kessler is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Documents
Issuer
Silver Bay Realty Trust Corp.
CIK 0001557255
Entity typeoperating
IncorporatedMD
Related Parties
1- filerCIK 0001557255
Filing Metadata
- Form type
- 4
- Filed
- Oct 1, 8:00 PM ET
- Accepted
- Oct 2, 4:56 PM ET
- Size
- 10.9 KB