SEC Form 4 · accession 0001140361-16-085422
PS BUSINESS PARKS INC/CA · PSB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sara Grootwassink Lewis
Director
Period of report
Nov 7, 2016
Accepted (ET)
Nov 8, 2016 · 5:10 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000866368
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Nov 7, 2016 | M | 4,137 | $46.43 | A | 7,137 | D | |
| Common StockF2 | Nov 7, 2016 | S | 4,137 | $106.9291 | D | 3,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F3,F4 | $46.43 | Nov 7, 2016 | M | 4,137 | D | Feb 19, 2011 | Feb 19, 2020 | Common Stock | 4,137 | 0 | D |
Explanation of responses
- F1On December 15, 2014, PSB declared a special dividend, payable on December 30, 2014. As a result, pursuant to anti-dilution provisions of PSB's 2003 Stock Option and Incentive Plan, an option for 4,000 shares of common stock held by the reporting person on December 30, 2014 became exercisable for an additional 137 shares of common stock.
- F2Represents weighted average purchase price. These shares were sold at prices ranging from $106.65 to $107.14. Full information regarding the number of shares purchased at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer or a security holder of the issuer.
- F3Stock Option granted pursuant to the 2003 Stock Option and Incentive Plan. Option vested in five (5) equal annual installments beginning one (1) year from the date of grant.
- F4This option was previously reported as an option for 4,000 shares of common stock at an exercise price of $48.01, but was adjusted to reflect the special dividend declared by PSB on December 15, 2014.