SEC Form 4 · accession 0001526642-17-000002
Brookfield Property REIT Inc. · BPR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marvin J Levine
Officer — EVP, Chief Legal Officer
Period of report
Mar 8, 2017
Accepted (ET)
Mar 10, 2017 · 4:04 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001496048
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FV LTIP UnitsF1 | — | Mar 8, 2017 | C | 11,180 | D | — | — | Common Stock | 11,180 | 11,180 | D |
| OP UnitsF3,F2 | — | Mar 8, 2017 | C | 11,180 | A | — | — | Common Stock | 11,180 | 11,180 | D |
| OP UnitsF3,F2 | — | Mar 8, 2017 | C | 11,180 | D | — | — | Common Stock | 11,180 | 0 | D |
Explanation of responses
- F1Represents limited partnership interests ("FV LTIP Units") in GGP Operating Partnership, LP (the "Operating Partnership"), an operating partnership of GGP Inc. (the "Company"), granted pursuant to the Company's 2010 Equity Incentive Plan. FV LTIP Units are a class of units of the Operating Partnership that, conditioned upon minimum allocations to the capital accounts of the FV LTIP Units for federal income tax purposes, are convertible by the holder into an equivalent number of common units of the Operating Partnership ("OP Units").
- F211,180 of the Reporting Person's FV LTIP Units were converted into OP Units by the Reporting Person, and the OP Units were redeemed for cash in accordance with the Operating Partnership's Partnership Agreement.
- F3Represents OP Units, which are redeemable by the holder for common shares of the Company on an approximately one-for-one basis or the cash value of such shares, at the Company's option.