General Growth Properties, Inc. 4
4 · General Growth Properties, Inc. · Filed Jan 8, 2015
Insider Transaction Report
Form 4
Pesin Richard
EVP, Anchor Dev & Construction
Transactions
- Award
LTIP Units
2015-01-06+60,200→ 60,200 totalExercise: $0.00→ Common Stock (60,200 underlying)
Footnotes (1)
- [F1]The reporting person received a grant of restricted limited partnership interests ("FV LTIP Units") in GGP Operating Partnership, LP (the "Operating Partnership"), an operating partnership of General Growth Properties, Inc. (the "Company"), pursuant to the General Growth Properties, Inc. 2010 Equity Incentive Plan. FV LTIP Units are a class of units of the Operating Partnership that, conditioned upon minimum allocations to the capital accounts of the FV LTIP Units for federal income tax purposes, are convertible by the holder into an equivalent number of common units of the Operating Partnership ("OP Units"), which are redeemable by the holder for common shares of the Company on an approximately one-for-one basis or the cash value of such shares, at the Company's option. The grant vests in 25% increments on each of January 6, 2016, January 6, 2017, January 6, 2018 and January 6, 2019. The rights to convert FV LTIP Units into OP Units and redeem OP Units do not have expiration dates.