SEC Form 4 · accession 0001567619-19-006755
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
Mar 8, 2019
Accepted (ET)
Mar 12, 2019 · 7:43 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 | 25,109 | $0.00 | A | 298,944 | D | |
| Class A Common SharesF2 | Mar 8, 2019 | A | 11,591 | $0.00 | A | 310,535 | D | |
| Class A Common SharesF3,F4 | Mar 8, 2019 | F | 23,362 | $45.29 | D | 287,173 | 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 July 7, 2015, and previously included in Form 4 filings, in which 21,551 Restricted Shares (the initial number of Restricted Shares granted) were reported. The total number of shares subject to this performance award, including the additional shares reported herein, is 46,660, all of which vested on March 8, 2019 when the performance determination was approved by the compensation committee of the board of directors of the issuer.
- 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.
- F3Represents shares withheld by the issuer to cover tax obligations of the reporting person in connection with the settlement of performance-based restricted stock awards.
- F4Includes 136,655 unvested or vested but unsettled Restricted Share Units and Restricted Shares as of the date of this filing, after taking into account the transactions reported herein.