SEC Form 4 · accession 0001140361-16-054869
Extended Stay America, Inc. · STAY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gerardo I Lopez
Officer — See Remarks · Director
Period of report
Feb 24, 2016
Accepted (ET)
Feb 25, 2016 · 4:24 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001581164
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Paired SharesF1,F2 | Feb 24, 2016 | A | 270,000 | $0.00 | A | 870,000 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reported transaction is an award of Restricted Stock Units in respect of Paired Shares. Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B common stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the transaction in Paired Shares by the reporting person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer. Subject to the reporting person's continued employment through the applicable vesting date, these Restricted Stock Units are scheduled to vest annually over a three-year period such that one-third of the Restricted Stock Units will vest on each of March 12, 2017, March 12, 2018 and March 12, 2019.
- F2Vested Restricted Stock Units will be settled in Paired Shares on March 15th next following the applicable vesting date (or, in any year when the 15th of March falls on a non-business day, the business day immediately prior to such date).
Remarks
Mr. Lopez is the President and Chief Executive Officer and a Director of Extended Stay America, Inc. and ESH Hospitality, Inc.