5//SEC Filing
American Housing Income Trust, Inc. 5
Accession 0001659173-16-000132
CIK 0001433821operating
Filed
Feb 11, 7:00 PM ET
Accepted
Feb 12, 5:07 PM ET
Size
23.4 KB
Accession
0001659173-16-000132
Insider Transaction Report
Form 5
Performance Realty Management, LLC
10% Owner
Transactions
- Award
Common Stock
2015-09-28+1,000,000→ 1,000,000 total - Other
Common Stock
2015-07-06+58,810→ 0 total - Award
Common Stock
2015-07-06+1,000,000→ 2,058,810 total - Award
Common Stock
2015-07-06+25,000→ 25,000 total - Award
Option
2015-10-12−0→ 0 total→ Common Stock
Transactions
- Award
Common Stock
2015-09-28+1,000,000→ 1,000,000 total - Other
Common Stock
2015-07-06+58,810→ 0 total - Award
Common Stock
2015-07-06+1,000,000→ 2,058,810 total - Award
Common Stock
2015-07-06+25,000→ 25,000 total - Award
Option
2015-10-12−0→ 0 total→ Common Stock
Zarinegar Sean
COB, CFO, Treas.10% Owner
Transactions
- Award
Common Stock
2015-09-28+1,000,000→ 1,000,000 total - Other
Common Stock
2015-07-06+58,810→ 0 total - Award
Common Stock
2015-07-06+1,000,000→ 2,058,810 total - Award
Common Stock
2015-07-06+25,000→ 25,000 total - Award
Option
2015-10-12−0→ 0 total→ Common Stock
Hedrick Kenneth
Director
Transactions
- Award
Common Stock
2015-09-28+1,000,000→ 1,000,000 total - Other
Common Stock
2015-07-06+58,810→ 0 total - Award
Common Stock
2015-07-06+1,000,000→ 2,058,810 total - Award
Common Stock
2015-07-06+25,000→ 25,000 total - Award
Option
2015-10-12−0→ 0 total→ Common Stock
Howard Jeffrey Charles
DirectorCEO and Pres.
Transactions
- Award
Common Stock
2015-09-28+1,000,000→ 1,000,000 total - Other
Common Stock
2015-07-06+58,810→ 0 total - Award
Common Stock
2015-07-06+1,000,000→ 2,058,810 total - Award
Common Stock
2015-07-06+25,000→ 25,000 total - Award
Option
2015-10-12−0→ 0 total→ Common Stock
Andreas Monica
Secretary
Transactions
- Award
Common Stock
2015-09-28+1,000,000→ 1,000,000 total - Other
Common Stock
2015-07-06+58,810→ 0 total - Award
Common Stock
2015-07-06+1,000,000→ 2,058,810 total - Award
Common Stock
2015-07-06+25,000→ 25,000 total - Award
Option
2015-10-12−0→ 0 total→ Common Stock
Footnotes (7)
- [F1]Shares were issued to Performance Realty Management, LLC ("PRM") in consideration of its performance under the Operating Agreement as Manager of American Realty Partners, LLC ("ARP") and the Parent/Subsidary and Operations Agreement between ARP and the Company.
- [F2]As a result of a reverse stock split, and ARP's conversion of its preferred shares into common shares, ARP's ownership dropped below 10%; however, ARP is a beneficial owner to PRM as a result of PRM having control over the operations of ARP with direction from the Board of Directors for the Company, pursuant to the Parent/Subsidiary and Operations Agreement. See also ARP's original Schedule 13D dated February 25, 2015.
- [F3]Shares were issued to Sean Zarinegar pursuant to his Advisory Board Consulting Agreement and Compensation Agreement with the Company.
- [F4]Sean Zarinegar is the beneficial owner of 2,058,810 shares because he personally controls 1,000,000 shares, and controls 1,000,000 shares as the Manager of PRM. He also controls the 58,810 shares titled to ARP by virtue of PRM serving as the Manager to ARP pursuant to the ARP Operating Agreement, as amended.
- [F5]Director Kenneth Hedrick was issued 25,000 shares of restricted common stock in the Company pursuant to his Board Director Agreement. As a Director, Mr. Hedrick is a required reporter, but does not possess a beneficial ownership interest.
- [F6]On October 12, 2015, the Company hired Jeff Howard to serve as Chief Executive Officer and President. In addition to the compensation identified in his employment agreement, the Company and Mr. Howard agreed to the following escalators, which includes the grant of additional shares of restricted common stock: (a) The Company agrees to increase his compensation by an additional $25,000 per annum and shall issue an additional issuance of 25,000 shares of common stock in the Company to Mr. Howard when the Company achieves the milestone of a gross revenue of $1,000,000 per annum; (b) The Company agrees to increase his compensation by an additional $25,000 per annum when the Company has achieved the milestone of a gross revenue of $1,500,000 per annum;
- [F7]and (c) the Company agrees to increase his compensation by an additional $25,000 per annum, and issue an additional issuance of 25,000 shares of restricted common stock in the Company to him when the Company has achieved the milestone of a gross revenue of $2,000,000 per annum. Mr. Howard's current and future compensation is not contingent upon the success of sales of shares of common stock under the pending registration statement under S-11/A and Prospectus attached thereto.
Documents
Issuer
American Housing Income Trust, Inc.
CIK 0001433821
Entity typeoperating
IncorporatedMD
Related Parties
1- filerCIK 0001433821
Filing Metadata
- Form type
- 5
- Filed
- Feb 11, 7:00 PM ET
- Accepted
- Feb 12, 5:07 PM ET
- Size
- 23.4 KB