SEC Form 4 · accession 0001214659-17-000178
BRT Apartments Corp. · BRT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mitchell Gould
Officer — Executive Vice President
Period of report
Jan 4, 2017
Accepted (ET)
Jan 6, 2017 · 11:04 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000014846
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Shares of Beneficial InterestF1 | Jan 4, 2017 | A | 11,375 | $0.00 | A | 146,254 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3 | — | holding | — | — | — | — | — | Common Stock | 22,000 | 22,000 | D |
Explanation of responses
- F1These shares were issued as restricted stock effective January 4, 2017 under the issuer's 2016 Amended and Restated Incentive Plan. The shares vest January 3, 2022. The award is exempt from Section 16(b) under Rule 16b-3(d)(1).
- F2Each Restricted Stock Unit represents a contingent right to receive 1 share of BRT Realty Trust common stock. Approximately 55% and 45% of the units vest based on satisfaction of performance metrics related to total shareholder return (including relative shareholder return) and adjusted funds from operations, respectively. Each such unit is granted in tandem with a cash settled dividend equivalent right entitling the holder, to the extent such unit vests, to the cash dividends paid on the shares underlying such units from the grant date through March 31, 2021.
- F3The restricted stock units vest on March 31, 2021, subject to satisfaction of applicable continued service and performance conditions.