SEC Form 4 · accession 0001214659-19-000253
BRT Apartments Corp. · BRT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark H Lundy
Officer — VICE PRESIDENT
Period of report
Jan 8, 2019
Accepted (ET)
Jan 10, 2019 · 11:13 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 |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jan 8, 2019 | A | 13,465 | $0.00 | A | 195,826 | D | |
| Common Stock | holding | — | — | — | 1,221 | I | By spouse as custodian for reporting person's minor children |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | holding | — | — | — | — | — | Common Stock | 37,000 | 37,000 | D |
Explanation of responses
- F1Each 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.
- F2The restricted stock units vest on March 31, 2021, subject to satisfaction of applicable continued service and performance conditions.