SEC Form 4 · accession 0001209191-15-086937
Douglas Emmett Inc · DEI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kenneth M Panzer
Officer — Chief Operating Officer · Director
Period of report
Dec 21, 2015
Accepted (ET)
Dec 23, 2015 · 9:49 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001364250
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Long Term Incentive Plan UnitsF1,F5,F2,F3,F4 | — | Dec 21, 2015 | A | 332,890 | A | — | — | Common Stock | 332,890 | 332,890 | D |
Explanation of responses
- F1Long Term Incentive Plan units ("LTIP Units") in Douglas Emmett Properties, LP, a DE limited partnership (the "Operating Partnership"). Issuer is the sole stockholder of the general partner of the Operating Partnership. LTIP Units have full parity with partnership common units (the "OP Units") for all purposes and subject to vesting, may be converted into an equal number of OP Units on a one-for-one basis. Upon the occurrence of certain events, LTIP Units and OP Units are redeemable by the holder, without consideration, for an equivalent number of shares of Issuer's common stock or for the cash value of such shares, at Issuer's election.
- F2See footnote 1.
- F3These LTIP Units vest 50% on December 31, 2015, with the remaining 50% vesting one-third on each December 31 of 2016, 2017 and 2018.
- F4Not applicable.
- F5In addition to the LTIP Units reporting herein, Reporting Person owns 207,412 LTIP Units, 6,357,845 OP Units, and employee stock options to purchase 5,431,550 of Issuer's common stock.