SEC Form 4 · accession 0001104659-16-092130
TIER REIT INC · TIER
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James E Sharp
Officer — Chief Accounting Officer & EVP
Period of report
Jan 26, 2016
Accepted (ET)
Jan 28, 2016 · 4:31 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001176373
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 26, 2016 | A | 4,915 | $0.00 | A | 30,062 | D | |
| Common StockF2,F3 | Jan 27, 2016 | F | 302 | $15.27 | D | 29,760 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF4 | — | Jan 26, 2016 | A | 2,458 | A | — | — | Common Stock | — | 2,458 | D |
Explanation of responses
- F1Consists of restricted stock granted under the TIER REIT, Inc. (the "Company") 2015 Equity Incentive Plan that vests in equal installments on December 30, 2016, December 30, 2017 and December 30, 2018.
- F2Shares withheld upon the vesting of restricted stock to pay the reporting person's minimum tax withholding obligation as permitted under the Company's 2005 Incentive Award Plan.
- F3Includes 18,766 shares of restricted stock awarded under the Company's 2005 Incentive Award Plan and 2015 Equity Incentive Plan, as applicable, subject to vesting.
- F4Represents a target number of restricted stock units granted under the Company's long-term incentive program. Such restricted stock units are subject to vesting based on the Company's annualized total stockholder return on an absolute basis during the performance measurement period beginning on January 1, 2016 and continuing through December 31, 2018. After the performance measurement period, the Company will issue a number of shares of common stock under the Company's 2015 Equity Incentive Plan based on the number of restricted stock units that vested.