Pacini Raymond J 4
4 · MODIV INC. · Filed Jan 27, 2021
Insider Transaction Report
Form 4
MODIV INC.NONE
Transactions
- Award
Class R OP Units
2021-01-25+100,000→ 100,000 totalExercise: $0.00From: 2024-03-31→ Class R OP Units (100,000 underlying)
Footnotes (3)
- [F1]A total of 100,000 Class R OP units were issued to the reporting person for his equity incentive compensation for the three-year period ending December 31, 2023. The Class R OP Units will be adjusted to 33,333 units on February 1, 2021 to reflect the issuer's 1:3 reverse stock split. The Class R OP Units vest on March 31, 2024, or upon the occurrence of certain events pursuant to the Third Amended and Restated Limited Partnership Agreement. The Class R OP Units are convertible into Class C OP Units on March 31, 2024 at a conversion ratio of 1:1 which may increase to a conversion ratio of 1:2.5 if the performance milestone set forth in the Third Amended and Restated Limited Partnership Agreement is achieved.
- [F2]There is no expiration date in connection with the Class R OP Units issued to the reporting person.
- [F3]There is no market for Class R OP Units. Accordingly, the price per derivative security is not applicable.