4//SEC Filing
SILVERSTEIN LEONARD A 4
Accession 0001638599-18-000045
CIK 0001481832other
Filed
Jan 2, 7:00 PM ET
Accepted
Jan 3, 12:20 PM ET
Size
8.7 KB
Accession
0001638599-18-000045
Insider Transaction Report
Form 4
SILVERSTEIN LEONARD A
DirectorSee Remarks
Transactions
- Award
Class A Units
2018-01-02+51,078→ 294,475 total→ Common Stock (51,078 underlying)
Holdings
- 44,765(indirect: By NELL Partners, Inc.)
Common Stock, par value $0.01
- 35,473
Common Stock, par value $0.01
Footnotes (3)
- [F1]John A. Williams, Leonard A. Silverstein and Daniel M. DuPree share joint voting and investment power over the shares held by NELL Partners, Inc. Mr. Silverstein disclaims any economic interest in such shares, 55% of which are owned indirectly by the Nancy Ann Richardson Williams 2017 Children's Trust, a trust created by Mr. Williams' spouse for the benefit of their children; 30% of which are owned indirectly by Northside Partners Trust, formed on November 2, 2009, a trust created by Mr. Silverstein's spouse for the benefit of their children; and 15% of which are owned indirectly by Daniel M. DuPree.
- [F2]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.
- [F3]On January 3, 2017, the reporting person was awarded a maximum of 51,078 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 51,078 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 0001506193
Filing Metadata
- Form type
- 4
- Filed
- Jan 2, 7:00 PM ET
- Accepted
- Jan 3, 12:20 PM ET
- Size
- 8.7 KB