SEC Form 4 · accession 0001144204-15-033673

PREFERRED APARTMENT COMMUNITIES INC · APTS

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

Reporting owner

Officer — See Remarks · Director

Period of report

May 22, 2015

Accepted (ET)

May 27, 2015 · 1:03 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, par value $0.01^F1	May 22, 2015	P	2,000	$11.30	A	42,265	I	By Nell Partners, Inc.
Common Stock, par value $0.01	holding	—	—		—	35,473	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Class A Units^F2	—	holding	—	—	—	—	—	Common Stock	131,115	131,115	D

F1John A. Williams, Leonard A. Silverstein and Daniel M. DuPree share joint voting and investment power over the shares held by NELL Partners, Inc. Mr. Silverstein disclaims any economic interest in such shares, 63% of which 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; 27% of which are owned indirectly by Northside Partners Trust, formed on November 2, 2009, a trust created by Mr. Silverstein's spouse for the benefit of their children; and 10% of which are owned indirectly by Daniel M. DuPree.
F2Represents 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 have no expiration date.

President and Chief Operating Officer