SEC Form 4 · accession 0001404930-17-000019
DUKE REALTY CORP · DRE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Peter D. Harrington
Officer — EVP, Construction
Period of report
Feb 10, 2017
Accepted (ET)
Feb 14, 2017 · 5:37 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000783280
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Feb 10, 2017 | F | 1,034 | $25.26 | D | 31,045 | D | |
| Common StockF4 | Feb 10, 2017 | D | 10,332 | — | D | 20,713 | D | |
| Common StockF5 | holding | — | — | — | 51,483 | I | By 401(k) Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTIP UnitsF6,F7 | — | Feb 10, 2017 | A | 5,526 | A | — | — | Common Stock | 5,526 | 5,526 | D |
| Phantom Stock UnitsF4,F8 | — | Feb 10, 2017 | A | 10,332 | A | — | — | Common Stock | 10,332 | 26,573 | D |
Explanation of responses
- F1Represents shares withheld for taxes upon the vesting of restricted stock units granted pursuant to Rule 16b-3 of Section 16b of the Securities Exchange Act of 1934.
- F2Between July 8, 2016 and February 14, 2017, the Reporting Person acquired 408 shares of DRE common stock through dividend reinvestment.
- F3Balance reflects reduction of 774 restricted stock units previously reported.
- F4Pursuant to a previous election under the Executives' Deferred Compensation Plan of Duke Realty Services Limited Partnership, upon the vesting of restricted stock units, the Reporting Person deferred the receipt of 10,332 shares of common stock and received instead 10,332 shares of phantom stock.
- F5Between July 8, 2016 and February 14, 2017, the Reporting Person acquired 2,300 shares of DRE's common stock under the Company's 401(k) plan.
- F6Represents units of limited partnership interest (LTIP Unit) in Duke Realty Limited Partnership (DRLP), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based incentive programs. When earned and vested, each LTIP Unit may be converted into a Common Unit of limited partnership interest in DRLP. Each Common Unit acquired upon the conversion of an LTIP Unit is redeemable by the holder for shares of common stock of the Issuer on a one-for-one basis. LTIP units are generally not convertible until two years from the date of the grant.
- F7LTIP Units vest in three equal installments beginning on February 10, 2018 and have no expiration date.
- F8Represents phantom stock units acquired under the Executives' Deferred Compensation Plan of Duke Realty Services Limited Partnership. Between July 8, 2016 and February 14, 2017, the Reporting Person acquired 223 shares of DRE common stock through dividend reinvestment. The units are valued on a one to one basis to the Company's common stock and are to be settled in cash and/or stock upon the Reporting Person's termination of employment.