4//SEC Filing
Sprain Jeffrey R 4
Accession 0001638599-19-000047
CIK 0001481832other
Filed
Jan 3, 7:00 PM ET
Accepted
Jan 4, 3:03 PM ET
Size
8.0 KB
Accession
0001638599-19-000047
Insider Transaction Report
Form 4
Sprain Jeffrey R
See Remarks
Transactions
- Award
Class A Units
2019-01-02+7,001→ 7,001 totalExercise: $0.00→ Common Stock (7,001 underlying)
Holdings
- 2,003
Common Stock, par value $0.01 per share
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 10,790 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, 2019, the final 3,596 2016 Class B Units vested and converted to Class A Units.
- [F3]On January 3, 2017, the reporting person was awarded a maximum of 10,216 Class B Units of the Operating Partnership ("2017 Class B Units") issued in lieu of any reimbursement for annual cash compensation for 2017, 2018 and 2019, subject to certain performance and time-based conditions. As of January 2, 2018, all performance conditions were met for the 2017 Class B Units. On January 2, 2019, 3,405 of the 2017 Class B Units fully vested and were converted into Class A Units. Subject to time-based conditions, the remaining 3,405 unvested 2017 Class B Units will vest on January 2, 2020 and will convert to Class A Units on that date.
Documents
Issuer
PREFERRED APARTMENT COMMUNITIES INC
CIK 0001481832
Entity typeother
Related Parties
1- filerCIK 0001740272
Filing Metadata
- Form type
- 4
- Filed
- Jan 3, 7:00 PM ET
- Accepted
- Jan 4, 3:03 PM ET
- Size
- 8.0 KB