SEC Form 4 · accession 0001209191-15-065405
City Office REIT, Inc. · CIO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gregory Tylee
Officer — President & COO
Period of report
Aug 7, 2015
Accepted (ET)
Aug 11, 2015 · 8:08 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001593222
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Aug 7, 2015 | J | 5,540 | $12.31 | A | 85,036 | I | Through CIO REIT Stock Limited Partnership |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1As part of the formation transactions of City Office REIT, Inc. (the "Company") and a contribution agreement executed in connection with the Company's Central Fairwinds property (the "Property"), the Company is obligated to make additional payments to certain of the contributors, including CIO REIT Stock Limited Partnership, referenced in the contribution agreement (each, an "Earn-Out Payment"). Earn-Out Payments are contingent on the Property reaching certain specified occupancy levels through new leases to qualified tenants and exceeding a net operating income threshold. As of June 30, 2015, the 70% earn-out occupancy and net operating income thresholds had been met. The number of shares issuable as part of the Earn-Out Payment and the price at which they were issuable was determined on August 7, 2015, pursuant to a formula set forth in the contribution agreement.