SEC Form 4 · accession 0001552781-15-000423
ACRE REALTY INVESTORS INC · AIII
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles S Roberts
Director · 10% Owner
Period of report
Apr 1, 2015
Accepted (ET)
Apr 2, 2015 · 6:14 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001011109
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $.01 per shareF1,F2 | Apr 1, 2015 | D | 900 | $1.60 | D | 4,285,819 | D | |
| Common Stock, par value $.01 per shareF1,F2 | Apr 1, 2015 | D | 200 | $1.61 | D | 4,285,619 | D | |
| Common Stock, par value $.01 per shareF1,F2 | Apr 1, 2015 | D | 70 | $1.63 | D | 4,285,549 | D | |
| Common Stock, par value $.01 per shareF1,F2 | Apr 1, 2015 | D | 100 | $1.64 | D | 4,285,449 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1As part of Mr. Roberts' long range estate and tax plan, he is selling a limited number of shares under a one year Rule 10(b)5-1 Plan. Additionally, Rule 144 restricts the number of shares that Mr. Roberts can sell in any three month period to 1% of the total number of Company shares outstanding. Based on the restrictions under Rule 144 on the number of shares Mr. Roberts can sell each quarter, it would take more than 6 years to sell his holdings in the Company, if he sold the maximum number of shares allowed each quarter. Given the length of time necessary to diversify some of Mr. Roberts' holdings, he has decided to sell a limited portion of his shares each quarter for the next year in order to accomplish his estate and tax planning objectives.
- F2Mr. Roberts' spouse owns 258,705 shares of common stock. Mr. Roberts disclaims beneficial ownership of those shares which are included in Column 5 above.