SEC Form 4 · accession 0000899243-17-009365
Seritage Growth Properties · SRG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Edward S Lampert
Other
Period of report
Mar 31, 2017
Accepted (ET)
Apr 4, 2017 · 7:32 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 SharesF1,F2,F3,F4,F5 | Mar 31, 2017 | J | 4,620 | $0.00 | D | 521,475 | I | See Footnotes |
| Class A Common SharesF2,F3,F4 | holding | — | — | — | 530,615 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Partnership UnitsF7,F2,F3,F4,F9,F6,F8 | — | Mar 31, 2017 | J | 76,768 | D | Jul 7, 2016 | — | Class A Common Shares | 8,663,159 | 8,663,159 | I |
| Partnership UnitsF2,F3,F4,F6,F8 | — | holding | — | — | — | Jul 7, 2016 | — | Class A Common Shares | 13,168,579 | 13,168,579 | D |
Explanation of responses
- F1Represents Class A common shares of beneficial interest of Seritage Growth Properties (the "Issuer"), par value $0.01 per share ("Class A Shares"), that were distributed by ESL Partners, L.P. ("Partners") on a pro rata basis to certain redeeming limited partners of Partners.
- F2This statement is filed by and on behalf of Edward S. Lampert. Mr. Lampert and Partners are the direct beneficial owners of the securities covered by this statement.
- F3RBS Partners, L.P. ("RBS") is the general partner of, and may be deemed to beneficially own securities owned by, Partners. Mr. Lampert is a limited partner of, and may be deemed to beneficially own certain securities owned by, RBS. ESL Investments, Inc. ("ESL") is the general partner of, and may be deemed to beneficially own securities owned by, RBS. Mr. Lampert is the Chairman, Chief Executive Officer and Director of, and may be deemed to beneficially own securities owned by, ESL.
- F4The reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, the beneficial owner of any securities covered by this statement. The reporting person disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securities.
- F5Represents Class A Shares directly beneficially owned by Partners.
- F6Pursuant to the agreement of limited partnership of Seritage Growth Properties, L.P. (the "Operating Partnership"), the limited partnership interests (the "Partnership Units") of the Operating Partnership may be redeemed, at the request of the holder of such Partnership Units, for a determinable amount in cash, or at the option of the Issuer, Class A Shares at the rate of one Class A Share for each Partnership Unit redeemed.
- F7Represents Partnership Units that were distributed by Partners on a pro rata basis to certain redeeming limited partners of Partners.
- F8The Partnership Units do not expire.
- F9Represents Partnership Units directly beneficially owned by Partners.