SEC Form 4 · accession 0001493152-18-001302
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
Jan 30, 2018
Accepted (ET)
Jan 31, 2018 · 4:19 pm EST
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 StockF1 | Jan 30, 2018 | J | 54,263 | $0.00 | A | 418,522 | 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 418,522 shares: 328,284 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 non qualified stock option to acquire 100,000 common shares ("Option") was awarded on August 13, 2012, pursuant to the Trust's 2012 Equity Incentive Plan. The Option vested 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.
- F2The purpose of this Form 4 filing is to reflect that on January 30, 2018, HBP PW LLC (an affiliate managed by David H. Lesser) completed an in-kind stock distribution of 54,263 shares of common stock of Power REIT to a third-party investor in HBP PW LLC. Accordingly, such shares are no longer reportable by David H. Lesser.