SEC Form 4 · accession 0000925421-17-000298
Farmland Partners Inc. · FPI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul A Pittman
Officer — President and CEO · Director
Period of report
Jul 19, 2017
Accepted (ET)
Jul 21, 2017 · 5:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001591670
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jul 19, 2017 | C | 531,827 | $0.00 | A | 1,081,615 | D | |
| Common Stock | holding | — | — | — | 5,300 | I | By Spouse | |
| Common Stock | holding | — | — | — | 1,200 | I | As UTMA Custodian for daughter, Allison Pittman | |
| Common Stock | holding | — | — | — | 1,000 | I | As UTMA Custodian for daughter, Catherine Pittman |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OP UnitsF2 | $0.00 | Jul 19, 2017 | C | 531,827 | D | — | — | Common Stock | 531,827 | 985,273 | D |
Explanation of responses
- F1The reporting person tendered 531,827 Class A common units of limited partnership interest ("OP units") in Farmland Partners Operating Partnership, LP (the "Operating Partnership") for redemption. Farmland Partners Inc. (the "Company") satisfied the redemption by issuing 531,827 shares of the Company's common stock to the reporting person.
- F2The Company is the sole member of the general partner of the Operating Partnership, the operating partnership of the Company. Commencing April 14, 2015, one year after the date of issuance, each OP Unit became redeemable for cash equal to the then-current market value of one share of the Company's common stock or, at the election of the Company, one share of the Company's common stock. OP Units have no expiration date.