SEC Form 4 · accession 0001638599-17-000089

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

Jan 20, 2017

Accepted (ET)

Jan 23, 2017 · 3:17 pm EST

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^F2	Jan 20, 2017	C	117,297	—	A	161,294	D
Common Stock, par value $0.01^F1	holding	—	—		—	43,265	I	By NELL Partners, Inc.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Class A Units^F2	—	Jan 20, 2017	C	117,297	D	Jan 20, 2017	—	Common Stock	117,297	0	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. DuPree disclaims any economic interest in 36,775 of such shares, 69.4% of which are owned indirectly by the Nancy Ann Richardson Williams Children's Trust, formed on January 30, 1995, a trust created by Mr. Williams' spouse for the benefit of their children, and 30.5% 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.
F2The reporting person redeemed 117,297 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.