SEC Form 5 · accession 0001638599-18-000220
PREFERRED APARTMENT COMMUNITIES INC · APTS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Leonard A Silverstein
Officer — See Remarks · Director
Period of report
Dec 31, 2017
Accepted (ET)
Feb 15, 2018 · 3:38 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 $0.01F1 | Oct 25, 2017 | G | 35,473 | $0.00 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A UnitsF3,F2 | — | Oct 25, 2017 | G | 294,475 | D | — | — | Common Stock | 294,475 | 0 | D |
Explanation of responses
- F1On October 25, 2017, the reporting person transferred his interest in these shares to an irrevocable trust for the benefit of his spouse and their children (the "Trust"). The reporting person is the grantor for the Trust. The Trust has an independent trustee.
- F2On October 25, 2017, the reporting person transferred his interest in these Class A Units to the Trust.
- F3Represents Class A Units ("Class A Units") of Preferred Apartment Communities Operating Partnership, L.P., 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.
Remarks
President and Chief Operating Officer