SEC Form 4 · accession 0000899243-16-014337
Paramount Group, Inc. · PGRE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael R. Walsh
Officer — EVP, CFO and Treasurer
Period of report
Feb 23, 2016
Accepted (ET)
Feb 25, 2016 · 4:47 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001605607
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 23, 2016 | A | 19,244 | A | — | — | Common Stock | 19,244 | 19,244 | D |
Explanation of responses
- F1LTIP Units issued pursuant to the Issuer's 2014 Equity Incentive Plan. The LTIP Units vest as follows: 7,698 LTIP Units on February 23, 2017, 7,698 LTIP Units on February 23, 2018 and 3,848 LTIP Units on February 23, 2019, subject to continued employment.
- F2Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest ("OP Unit") in Paramount Group Operating Partnership LP. Each OP Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The rights to convert vested LTIP Units into OP Units and redeem OP Units do not have expiration dates.