SEC Form 4 · accession 0001209191-15-018443
Brixmor Property Group Inc. · BRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael A Carroll
Officer — Chief Executive Officer · Director
Period of report
Feb 24, 2015
Accepted (ET)
Feb 25, 2015 · 4:02 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001581068
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 UnitsF2,F3,F1 | — | Feb 24, 2015 | A | 35,664 | A | — | — | Common Stock | 35,664 | 35,664 | D |
Explanation of responses
- F1Upon satisfaction of minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and the expiration of a two year restricted period from the date of grant, each LTIP Unit may be converted, at the election of the holder, into a common unit of Brixmor Operating Partnership LP. The common units of Brixmor Operating Partnership LP are redeemable for cash or, at the option of the Issuer, exchangeable for shares of common stock of the Issuer, on a one-for-one basis.
- F2The date of the transaction represents the date on which certain performance criteria of a previously granted LTIP award were determined to have been satisfied.
- F3Represents the number of LTIP Units determined to have been earned based upon certain performance criteria, including dividend equivalent units deemed earned through the date such performance criteria were deemed satisfied, in respect of a grant on March 18, 2014. Of the number of LTIP Units reported, 50% are vested and 50% are subject to additional time-based vesting criteria, and will vest on January 1, 2016, subject to the continued employment of the reporting person through that date.