SEC Form 4 · accession 0001575300-16-000002
American Residential Properties, Inc. · ARPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen G. Schmitz
Officer — Chairman and CEO · Director
Period of report
Jan 14, 2016
Accepted (ET)
Jan 19, 2016 · 7:11 pm EST
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 | — | Jan 14, 2016 | A | 9,163 | A | — | — | Common Stock | 9,163 | 253,845 | 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 Issuer's Compensation Committee determined on January 14, 2016 that the LTIP Units vested and became nonforfeitable as a result of meeting certain market based performance criteria, on January 1, 2016, pursuant to the grant award agreement stipulations. The performance based LTIP Units were issued pursuant to the Issuers 2012 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 performance-based vesting agreement entered into on April 24, 2015, the form of which was filed as Exhibit 10.1 to the Issuer's Form 10-Q filed on August 10, 2015.