Isakson John A 4
4 · PREFERRED APARTMENT COMMUNITIES INC · Filed Jan 6, 2020
Insider Transaction Report
Form 4
Isakson John A
See Remarks
Transactions
- Award
Class A Units
2019-01-02+2,270→ 20,551 totalExercise: $0.00→ Common Stock (2,270 underlying)
Holdings
- 0
Common Stock, par value $0.01 per share
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 3, 2017, the reporting person was awarded a maximum of 6,811 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. When earned and vested, each Class B Unit is converted into a Class A Unit. On January 2, 2020, the remaining 2,270 2017 Class B Units vested and converted to Class A Units.