SEC Form 4 · accession 0001622517-15-000008
Brookfield Property REIT Inc. · BPR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sandeep Mathrani
Officer — Chief Executive Officer · Director
Period of report
Feb 12, 2015
Accepted (ET)
Feb 17, 2015 · 4:03 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTIP UnitsF1 | $0.00 | Feb 12, 2015 | A | 848,608 | A | — | — | Common Stock | 882,350 | 848,608 | D |
Explanation of responses
- F1The reporting person received a grant of restricted limited partnership interests ("FV LTIP Units")in GGP Operating Partnership, LP (the "Operating Partnership"), an operating partnership of General Growth Properties, Inc. (the "Company"), pursuant to the General Growth Properties, Inc. 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"), which are redeemable by the holder for 1.0397624 common shares of the Company per OP Unit or the cash value of such shares, at the Company's option. The grant vests in full on January 1, 2020. The rights to convert FV LTIP Units into OP Units and redeem OP Units do not have expiration dates.