SEC Form 4 · accession 0001493152-17-011355
Power REIT · PW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David H Lesser
Officer — CEO, Secretary, Treasurer · Director · 10% Owner
Period of report
Oct 5, 2017
Accepted (ET)
Oct 6, 2017 · 7:08 am 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 | Oct 5, 2017 | P | 1,000 | $6.13 | A | 471,785 | D | |
| Common StockF1,F2 | Oct 5, 2017 | P | 1,000 | $6.15 | A | 472,785 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1After giving effect to the reported transaction(s), Mr. Lesser has beneficial ownership of 472,785 shares: 190,284 directly (including restricted stock and option equity grants (vested and unvested) under the Trust's 2012 Equity Incentive Plan), 90,238 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") (1) 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.
- F2On June 30, 2014, 40,000 restricted shares of common stock were granted to David H. Lesser pursuant to the Trust's 2012 Equity Incentive Plan which vests over three years in 12 equal quarterly installments beginning with Q2 2014. On September 10, 2015 9,400 restricted shares of common stock which vests over twelve quarterly periods beginning with 9/30/15. On 5/5/16 Mr. Lesser was granted 40,000 shares as compensation which vests quarterly over three years with the first vesting to occur on 6/30/16. On May 31, 2017, Mr. Lesser was granted 40,000 shares as compensation which vests quarterly over three years with the first vesting to occur on 6/30/17.