SEC Form 4 · accession 0001144204-15-030651

PREFERRED APARTMENT COMMUNITIES INC · APTS

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — Chief Investment Officer · Director

Period of report

May 13, 2015

Accepted (ET)

May 14, 2015 · 3:28 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001481832

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1,F2	May 13, 2015	J	36,238	—	A	40,265	I	By NELL Partners, Inc.
Common Stock, par value $0.01	holding	—	—		—	40,197	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Class A Units^F3	—	holding	—	—	—	—	—	Common Stock	30,571	30,571	D

F1On May 13, 2015, Mr. DuPree became a director of NELL Partners, Inc. and thereby acquired shared voting and investment power of all shares owned by NELL Partners, Inc.
F2John A. Williams, Leonard A. Silverstein and Daniel M. DuPree share joint voting and investment power of these shares held by NELL Partners, Inc. Mr. DuPree disclaims any economic interest in 36,238 of such shares, 70% of such shares are owned indirectly by the Nancy Ann Richardson Williams Children's Trust, formed on January 30, 1995, a trust created by John A. Williams' spouse for the benefit of their children and 30% of which are owned indirectly by the Northside Partners Trust, formed on November 2, 2009, a trust created by Leonard A. Silverstein's spouse for the benefit of their children.
F3Represents Class A Units ("Class A Unit") of Preferred Apartment Communities Operating Partnership, L.P. (the "Operating Partnership"), of which Preferred Apartment Communities, Inc. (the "Company") is the general partner. Each Class A Unit may be exchanged for one share of the Company's common stock, or cash, as selected by the Company. Class A Units do not expire.