SEC Form 4 · accession 0001179110-15-013790
Sterling Real Estate Trust
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kenneth P Regan
Officer — Chief Executive Officer · 10% Owner · Other
Period of report
Oct 1, 2015
Accepted (ET)
Oct 5, 2015 · 4:06 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001412502
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Limited Partnership UnitsF1,F6,F4 | — | Sep 11, 2015 | J | 70,144 | D | — | — | Common Shares | 70,144 | 0 | I |
| Limited Partnership UnitsF1,F7,F4 | — | Sep 11, 2015 | J | 35,072 | A | — | — | Common Shares | 35,072 | 1,979,842 | D |
| Limited Partnership UnitsF1,F8,F4 | — | Sep 11, 2015 | J | 35,072 | A | — | — | Common Shares | 35,072 | 44,103 | I |
| Limited Partnership UnitsF1,F3,F4 | — | Oct 1, 2015 | J | 29,708 | A | — | — | Common Shares | 29,708 | 2,009,550 | D |
Explanation of responses
- F1Pursuant to the LLLP Agreement of the operating partnership, holders of limited partnership units may, after a two year holding period, elect to have their limited partnership units redeemed. Upon a redemption request, Sterling Real Estate Trust has the option to purchase the limited partnership units directly, either in cash or in common shares of beneficial interest at an exchange rate of one-to-one.
- F2The reporting person received the Limited Partnership Units in connection with a 721 UPREIT transaction.
- F3These Limited Partnership Units may be redeemed as described under footnote 1 anytime after a two year holding period, or October 2, 2017.
- F4These derivative securities do not have an expiration date.
- F5Represents a transfer of shares held indirectly by an LLP to Mr. Regan and his spouse for no consideration.
- F6The excercisable date is not applicable as no limited partnership units remain in the account.
- F7These Limited Partnership Units may be redeemed as described under footnote 1 anytime after a two year holding period.
- F8These Limited Partnership Units may be redeemed as described under footnote 1 anytime after a two year holding period, or October 10, 2015.