SEC Form 4 · accession 0001174322-15-000001

PENNSYLVANIA REAL ESTATE INVESTMENT TRUST · PEI

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Ronald Rubin

Officer — Executive Chairman · Director

Period of report

Dec 12, 2014

Accepted (ET)

Jan 6, 2015 · 6:13 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000077281

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Shares of Beneficial Interest, par value $1.00 per share^F1	Dec 12, 2014	G	1,000	$0.00	D	147,294	D
Shares of Beneficial Interest, par value $1.00 per share^F2	holding	—	—		—	27,800	I	By Trust
Shares of Beneficial Interest, par value $1.00 per share^F3	holding	—	—		—	5,000	I	By Trust
Shares of Beneficial Interest, par value $1.00 per share^F4	holding	—	—		—	7,834	I	By Trust
Shares of Beneficial Interest, par value $1.00 per share^F4	holding	—	—		—	750	I	By Trust

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Units of Class A Limited Partnership Interest^F5	—	holding	—	—	—	—	—	Shares of Beneficial Interest, par value $1.00 per share	945,417	945,417	D
Units of Class A Limited Partnership Interest^F6,F5	—	holding	—	—	—	—	—	Shares of Beneficial Interest, par value $1.00 per share	86,934	86,934	I
Units of Class A Limited Partnership Interest^F7,F5	—	holding	—	—	—	—	—	Shares of Beneficial Interest, par value $1.00 per share	5,227	5,227	I

Explanation of responses

F1The reporting person made a gift of these securities.
F2These shares are held by the Non-QTIP Marital Trust U/W of Richard I. Rubin (the "Marital Trust"), a trust of which Mr. Rubin is a trustee and a beneficiary.
F3These shares are held by a trust of which Mr. Rubin is a trustee and a beneficiary.
F4These shares are held by trusts of which Mr. Rubin is a trustee. Mr. Rubin disclaims beneficial ownership of these shares.
F5The derivative securities are units of Class A Limited Partnership Interest (the "Units") in PREIT Associates, L.P., the operating partnership of the issuer. The Units held by the reporting person are generally redeemable one year after the date of issuance, in consideration for cash equal to the contemporaneous market price of shares of beneficial interest in the issuer or, at the election of the issuer, for a like number of shares of beneficial interest in the issuer, without payment of any conversion or exercise price. The Units are currently redeemable, but have not been redeemed. The Units have no expiration date.
F6The Marital Trust is the holder of these Units. Mr. Rubin disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F7Pan American Office Investments, L.P. is the holder of these Units. Mr. Rubin is the sole shareholder of Pan American Office Investment - GP, Inc., which in turn is the general partner of Pan American Office Investments, L.P. In addition, Mr. Rubin directly holds a limited partnership interest in Pan American Office Investments, L.P.