Nia Mahbod 4

What Happened

• Nia Mahbod, CEO of Veris Residential (VRE), had 153,041 performance-vesting restricted stock units (PVRSUs) vest on March 16, 2026 (28,844 PVRSUs forfeited). The filing shows conversion/exercise of 153,041 derivative units into shares and an additional 181,885 derivative units reported as converted/disposed.
• To satisfy tax withholding, 74,495 shares were withheld/sold on March 16 for $1,407,136 and 22,599 shares were withheld/sold on March 17 for $426,556 — total proceeds of approximately $1,833,692. These sales were net share settlements for taxes, not open-market discretionary sales.

Key Details

• Transaction dates: March 16–17, 2026; Form 4 filed March 18, 2026 (timely).
• Vesting: 153,041 PVRSUs vested; 28,844 PVRSUs forfeited (per footnote F1).
• Tax withholding: 74,495 shares withheld/sold (3/16) for $1,407,136; 22,599 shares withheld/sold (3/17) for $426,556 (footnotes F2 & F3).
• Additional reporting: 181,885 shares reported as converted/exercised (derivative, coded M) and shown as disposed in the filing.
• Shares owned after the transactions: not specified in the provided data.
• Filing status: appears timely (filed two days after the primary vesting date); no 10b5-1 or late-filing flags provided.

Context

• The vested PVRSUs were performance-based awards: 50% tied to absolute total stockholder return (TSR) and 50% tied to TSR relative to 23 peer REITs over the three-year performance period (footnote F4).
• The reported disposals were net share settlements to cover tax liabilities (routine, coded F) rather than open-market sales indicating a change in conviction. In plain terms, shares were converted from awards and some were withheld/sold to pay taxes (a cashless-like settlement).