SEC Form 4 · accession 0001567619-19-006753
Seritage Growth Properties · SRG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brian Robert Dickman
Officer — CFO and EVP
Period of report
Mar 8, 2019
Accepted (ET)
Mar 12, 2019 · 7:39 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 | Mar 8, 2019 | A | 4,419 | $0.00 | A | 27,093 | D | |
| Class A Common SharesF2,F3 | Mar 8, 2019 | A | 3,179 | $0.00 | A | 30,272 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents Restricted Share Units awarded under the terms of a performance award previously granted to the reporting person under the Seritage Growth Properties 2015 Share Plan covering the performance period Jan. 1, 2016 - Dec. 31, 2018. Such number of Restricted Share Units is based on the determination by the compensation committee of the board of directors of the issuer of the applicable level of performance achievement. Half of the reported number of Restricted Share Units vested on March 8, 2019, when the performance determination was approved, and will be settled in Class A common shares of the issuer within 30 days of such date and the remaining half will vest on Jan. 1, 2020, subject to the reporting person's continued employment with the issuer, and will be settled within 30 days thereafter.
- F2Represents a grant of Restricted Share Units under the Seritage Growth Properties 2015 Share Plan. This award will vest in substantially equal installments on each of March 8, 2020, March 8, 2021 and March 8, 2022.
- F3Includes 22,558 unvested or vested but unsettled Restricted Share Units and Restricted Shares, as of the date of this filing, after taking into account both transactions reported herein.