SEC Form 4 · accession 0001209191-15-036193
American Residential Properties, Inc. · ARPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lani B Porter
Officer — SVP, Operations
Period of report
Apr 24, 2015
Accepted (ET)
Apr 24, 2015 · 6:55 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001548981
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,F3,F2 | — | Apr 24, 2015 | A | 5,498 | A | — | — | Common Stock | 5,498 | 22,589 | D |
Explanation of responses
- F1Represent restricted units of limited partnership interest ("LTIP Units") in American Residential Properties OP, L.P. (the "OP"), the operating partnership of American Residential Properties, Inc. (the "Issuer"). The LTIP Units will vest ratably and become nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on January 1, 2016, 2017 and 2018. The LTIP Units were issued pursuant to the Issuer's 2012 Equity Incentive Plan and have no expiration date.
- F2As described in the OP's partnership agreement, vested LTIP Units, after achieving parity with Common Units of the OP, may be exchanged at any time for cash or, at the election of the Issuer, for shares of Common Stock of the Issuer on a one-for-one basis. LTIP Units have no expiration date.
- F3Awarded pursuant to an LTIP Unit time-based vesting agreement (2015) entered into on April 24, 2015, the form of which was filed as Exhibit 10.1 to the Issuer's Form 8-K filed on April 17, 2015.