SEC Form 4 · accession 0000899243-15-000988
Seritage Growth Properties · SRG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Benjamin Schall
Officer — CEO, President · Director
Period of report
Jul 7, 2015
Accepted (ET)
Jul 9, 2015 · 6:30 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001628063
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A common shares of beneficial interestF1 | Jul 7, 2015 | A | 16,903 | $0.00 | A | 17,003 | D | |
| Restricted Shares (time-vesting)F1 | Jul 7, 2015 | A | 50,710 | $0.00 | A | 67,713 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share Units (time-vesting)F2 | $0.00 | Jul 7, 2015 | A | 21,552 | A | — | — | Class A common shares | 21,552 | 21,552 | D |
| Restricted Shares (performance-vesting)F3 | $0.00 | Jul 7, 2015 | A | 101,420 | A | — | — | Class A common shares | 101,420 | 101,420 | D |
| Restricted Shares (performance-vesting)F4 | $0.00 | Jul 7, 2015 | A | 21,552 | A | — | — | Class A common shares | 21,552 | 21,552 | D |
Explanation of responses
- F1Mr. Schall received an award of 67,613.25 shares on July 7, 2015. 25% of this award (16,903.3125 shares) of restricted shares is vested as of July 7, 2015, and the unvested portion will vest in three equal annual installments beginning July 7, 2016.
- F2This award vests in three equal annual installments beginning on July 7, 2016.
- F3This award will vest based on the achievement of applicable performance goals. The reported number of performance-vesting restricted shares represents the number of shares earned based on the achievement of target performance. The number of shares that may be earned based on maximum performance is 150% of the target number of performance-vesting restricted shares.
- F4This award will vest based on the achievement of applicable performance goals. The reported number of performance-vesting restricted shares represents the number of shares earned based on the achievement of target performance. The number of shares that may be earned based on maximum performance is 265% of the target number of performance-vesting restricted shares.