SEC Form 4 · accession 0000899243-18-013586
Paramount Group, Inc. · PGRE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter Linneman
Director
Period of report
May 17, 2018
Accepted (ET)
May 21, 2018 · 5:07 pm EDT
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 | — | May 17, 2018 | A | 7,634 | A | — | — | Common Stock | 7,634 | 7,634 | D |
Explanation of responses
- F1LTIP Units issued pursuant to the Issuer's 2014 Equity Incentive Plan. The LTIP Units vest on the earlier of (i) one year from the date of grant and (ii) the date of the first annual meeting of stockholders following the grant date, subject to continued services as a director through such date.
- F2Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit will be converted automatically 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 will generally not be convertible until two years from the date of the grant. The right to redeem OP Units does not have an expiration date.
Remarks
See Exhibit 24 - Power of Attorney