SEC Form 4 · accession 0001567619-18-001224
Seritage Growth Properties · SRG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Matthew E Fernand
Officer — General Counsel and EVP
Period of report
Aug 13, 2018
Accepted (ET)
Aug 15, 2018 · 7:10 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 | Aug 13, 2018 | A | 1,408 | $0.00 | A | 22,864 | D | |
| Class A Common SharesF3,F2 | Aug 13, 2018 | F | 1,627 | $49.18 | D | 21,237 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents additional restricted shares granted under the Seritage Growth Properties 2015 Share Plan to reflect the final level of performance achievement under the terms of a performance award, consisting of restricted stock, granted on August 13, 2015, and previously included in Form 4 filings at the target level of achievement. The total number of shares subject to this performance award, including the additional shares reported herein, is 5,784, half of which vested on August 13, 2018 when the performance determination was approved by the compensation committee of the board of directors of the issuer and half of which vest on July 1, 2019, subject to the reporting person's continued employment with the issuer.
- F2Includes 12,965 unvested Restricted Share Units and Restricted Shares, as of the date of this filing.
- F3Represents shares withheld by the issuer to cover tax obligations of the reporting person in connection with the settlement of time-based and performance-based restricted stock awards.