SEC Form 4 · accession 0001437749-16-026370
WASHINGTON PRIME GROUP INC. · WPG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gregory A Gorospe
Officer — EVP, General Counsel,Secretary
Period of report
Feb 25, 2016
Accepted (ET)
Feb 29, 2016 · 4:39 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001594686
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,F2 | — | Feb 25, 2016 | A | 2,559 | A | — | — | Common Stock, par value $0.0001 per share | 2,559 | 2,559 | D |
Explanation of responses
- F1Represents long-term incentive performance ("LTIP") units of Washington Prime Group, L.P (the "Operating Partnership"), of which WP Glimcher Inc. (the "Company") is the general partner, issued as long-term incentive compensation pursuant to the Operating Partnership's 2014 Stock Incentive Plan (the "Incentive Plan") in compliance with Rule 16b-3. Upon vesting, each LTIP unit may be converted into a unit of limited partnership interest of the Operating Partnership ("Partnership Unit"). Each Partnership Unit may be exchanged for a share of the Company's common stock, or cash, as selected by the Company.
- F2The LTIP units were granted under the Incentive Plan. Subject to certain exceptions, 33% of such LTIP units will become vested on January 1, 2017 and each January 1st thereafter until the last tranche vests on January 1, 2019.