SEC Form 4 · accession 0001179110-16-020122
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
Feb 23, 2016
Accepted (ET)
Feb 25, 2016 · 9:43 am EST
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,F4,F2 | — | Feb 23, 2016 | J | 4,074 | D | — | — | Common Shares | 4,074 | 0 | I |
| Limited Partnership UnitsF1,F5,F2 | — | Feb 23, 2016 | J | 4,074 | A | — | — | Common Shares | 4,074 | 2,059,741 | 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.
- F2These derivative securities do not have an expiration date.
- F3Represents a transfer of shares held indirectly by an LLC to Mr. Regan for no consideration.
- F4The excercisable date is not applicable as no limited partnership units remain in the account.
- F5These Limited Partnership Units may be redeemed as described under footnote 1 anytime after a two year holding period.