MURPHY JOEL T 4
4 · PREFERRED APARTMENT COMMUNITIES INC · Filed Jan 4, 2019
Insider Transaction Report
Form 4
MURPHY JOEL T
CEO-New Market Properties, LLC
Transactions
- Award
Class A Units
2019-01-02+8,117→ 93,477 total→ Common Stock (8,117 underlying)
Footnotes (2)
- [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, 2019, the final 8,117 2016 Class B Units vested and converted into Class A Units.