American Residential Properties, Inc. 4
4 · American Residential Properties, Inc. · Filed Jan 19, 2016
Insider Transaction Report
Form 4
Schmitz Stephen G.
DirectorChairman and CEO
Transactions
- Award
LTIP Units
2016-01-14+9,163→ 253,845 total→ Common Stock (9,163 underlying)
Footnotes (3)
- [F1]Represent restricted units of limited partnership interest ("LTIP" Units") in American Residential Properties OP, L.P. (the "OP"), the operating partnership of American Residential Properties, Inc. (the"Issuer"). The Issuer's Compensation Committee determined on January 14, 2016 that the LTIP Units vested and became nonforfeitable as a result of meeting certain market based performance criteria, on January 1, 2016, pursuant to the grant award agreement stipulations. The performance based LTIP Units were issued pursuant to the Issuers 2012 Incentive Plan and have no expiration date.
- [F2]As described in the OP's partnership agreement, vested LTIP Units, after achieving parity with Common Units of the OP, may be exchanged at any time for cash or, at the election of the Issuer, for shares of Common Stock of the Issuer on a one-for-one basis. LTIP Units have no expiration date.
- [F3]Awarded pursuant to an LTIP Unit performance-based vesting agreement entered into on April 24, 2015, the form of which was filed as Exhibit 10.1 to the Issuer's Form 10-Q filed on August 10, 2015.