SEC Form 4 · accession 0001144204-15-046929
PREFERRED APARTMENT COMMUNITIES INC · APTS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel M Dupree
Officer — Chief Investment Officer · Director
Period of report
Aug 5, 2015
Accepted (ET)
Aug 6, 2015 · 4:25 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 $0.01F3 | Aug 5, 2015 | C | 3,800 | — | A | 43,997 | D | |
| Common StockF1 | holding | — | — | — | 42,265 | I | By NELL Partners, Inc. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A UnitsF2 | — | Aug 5, 2015 | C | 3,800 | D | — | — | Common Stock | 3,800 | 26,771 | D |
Explanation of responses
- F1John 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 38,039 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.
- 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 do not expire.
- F3The reporting person redeemed 3,800 Class A Units of the Operating Partnership, of which the issuer 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 issuer. The issuer elected to redeem the reporting person's Class A Units with common stock. Class A Units have no expiration date.