4//SEC Filing
WIRTA RAYMOND E 4
Accession 0001645873-21-000117
CIK 0001645873other
Filed
May 26, 8:00 PM ET
Accepted
May 27, 4:06 PM ET
Size
6.6 KB
Accession
0001645873-21-000117
Insider Transaction Report
Form 4
MODIV INC.NONE
WIRTA RAYMOND E
Director
Transactions
- Award
Class M OP Units
2021-05-27$18.28/sh+4,103.33$75,009→ 323,972.84 totalExercise: $0.00→ Class C Op Units (4,103.33 underlying)
Footnotes (4)
- [F1]Reporting person purchased 2,462 Class M OP units of Modiv Operating Partnership, LP ("Modiv OP") in a private transaction. These units are convertible into 4,103.33 Class C OP units as described in note 2.
- [F2]Pursuant to the provisions contained in the third amended and restated limited partnership agreement of Modiv OP, a holder of Class M OP units that have been outstanding for at least one year may be converted into Class C OP units, subject to a reduced conversion ratio if converted prior to December 31, 2023. The Class M OP units that are held until December 31, 2023 are convertible at an initial conversion ratio of 1.6667 which may increase if certain performance milestones are achieved. The Class C OP units are convertible into shares of the issuer's Class C common stock at a conversion ratio of 1:1.
- [F3]There is no expiration date in connection with the Class M OP units.
- [F4]Reporting person paid $75,000 for the 2,462 Class M OP units. Therefore, the implied price for the 4,103.33 Class C OP units in this transaction is $18.28 per unit.
Documents
Issuer
MODIV INC.
CIK 0001645873
Entity typeother
Related Parties
1- filerCIK 0001128145
Filing Metadata
- Form type
- 4
- Filed
- May 26, 8:00 PM ET
- Accepted
- May 27, 4:06 PM ET
- Size
- 6.6 KB