SEC Form 4 · accession 0001354488-15-001898
Power REIT · PW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David H Lesser
Officer — Chairman/CEO · Director · 10% Owner
Period of report
Apr 23, 2015
Accepted (ET)
Apr 23, 2015 · 9:21 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001532619
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Apr 22, 2015 | P | 1,000 | $5.30 | A | 358,044 | D | |
| Common Stock | Apr 23, 2015 | P | 500 | $5.50 | A | 358,544 | D | |
| Common Stock | Apr 23, 2015 | P | 1,000 | $5.60 | A | 359,544 | D | |
| Common StockF1 | Apr 23, 2015 | P | 500 | $6.10 | A | 360,044 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Explanation of Responses: After giving effect to the reported transaction(s), Mr. Lesser has beneficial ownership of 360,044 shares: 119,643 directly (including restricted stock and option equity grants (vested and unvested) under the Trust's 2012 Equity Incentive Plan), 87,138 through Hudson Bay Partners LP, a wholly owned affiliate, and 54,263 through HBP PW LLC, an affiliate managed by David H. Lesser. Approximately 99.8% of the share capital of HBP PW LLC has been provided by a third-party investor. A non qualified stock option to acquire 100,000 common shares ("Option") and 20,000 (1) restricted shares of common stock ("Restricted Stock") were awarded on August 13, 2012, pursuant to the Trust's 2012 Equity Incentive Plan. The Option and Restricted Stock awards vest in three equal annual installments beginning with the first anniversary of the respective grants. The Options have a 10-year term and a strike price equal to the closing price of the stock on August 13, 2012. On June 30, 2014, 40,000 restricted shares of common stock ("Restricted Stock") were granted to David H. Lesser pursuant to the Trust's 2012 Equity Incentive Plan. The Restricted Stock award vests over three years in 12 equal quarterly installments beginning with Q2 2014.