4//SEC Filing
MURPHY JOEL T 4
Accession 0001638599-18-000044
CIK 0001481832other
Filed
Jan 2, 7:00 PM ET
Accepted
Jan 3, 12:20 PM ET
Size
7.4 KB
Accession
0001638599-18-000044
Insider Transaction Report
Form 4
MURPHY JOEL T
CEO-New Market Properties, LLC
Transactions
- Award
Class A Units
2018-01-02+35,360→ 85,360 total→ Common Stock (35,360 underlying)
Footnotes (3)
- [F1]Represents Class A Units ("Class A Units") of Preferred Apartment Communities Operating Partnership, L.P., of which Preferred Apartment Communities, Inc. (the "Company") is the general partner. Each Class A Unit may be exchanged for one share of the Company's common stock, or cash, as selected by the Company. Class A Units have no expiration date.
- [F2]On January 4, 2016, the reporting person was awarded a maximum of 24,353 Class B Units of the Operating Partnership ("2016 Class B Units") issued in lieu of any reimbursement for annual cash compensation for 2016, 2017 and 2018, subject to certain performance and time-based conditions. As of January 3, 2017, all performance conditions were met for the 2016 Class B Units. When earned and vested, each Class B Unit is converted into a Class A Unit. On January 2, 2018, an additional 8,118 2016 Class B Units vested and converted to Class A Units. Subject to time-based conditions, the remaining 8,117 unvested 2016 Class B Units will vest on January 2, 2019 and will convert to Class A Units on that date.
- [F3]On January 3, 2017, the reporting person was awarded a maximum of 27,242 Class B Units of the Operating Partnership ("2017 Class B Units") issued in lieu of any reimbursement for annual cash compensation for 2017, subject to certain performance and time-based conditions. As of January 2, 2018, the Compensation Committee of the Board of Directors of the Company determined that the extent to which the performance conditions had been achieved during the performance period resulted in 100%, or 27,242 of the 2017 Class B Units becoming earned 2017 Class B Units. All of the earned 2017 Class B Units fully vested on January 2, 2018 and were converted into Class A Units on that date.
Documents
Issuer
PREFERRED APARTMENT COMMUNITIES INC
CIK 0001481832
Entity typeother
Related Parties
1- filerCIK 0001232172
Filing Metadata
- Form type
- 4
- Filed
- Jan 2, 7:00 PM ET
- Accepted
- Jan 3, 12:20 PM ET
- Size
- 7.4 KB