SEC Form 4 · accession 0001140361-17-019748
PS BUSINESS PARKS INC/CA · PSB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James H Kropp
Director
Period of report
May 10, 2017
Accepted (ET)
May 11, 2017 · 4:10 pm EDT
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 | May 10, 2017 | M | 2,068 | $55.89 | A | 10,902 | D | |
| Common StockF2 | May 10, 2017 | S | 1,768 | $124.2338 | D | 9,134 | D | |
| Common StockF3 | holding | — | — | — | 4,491 | I | by IRA |
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)F4,F5 | $55.89 | May 10, 2017 | M | 2,068 | D | May 5, 2009 | May 5, 2018 | Common Stock | 2,068 | 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 2,000 shares of common stock held by the reporting person on December 30, 2014 became exercisable for an additional 68 shares of common stock.
- F2Represents weighted average sale price. These shares were sold at prices ranging between $124.2314 and $124.2457. Full information regarding the number of shares sold 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.
- F3By a custodian of an IRA for benefit of the reporting person.
- F4Stock Option granted pursuant to the 2003 Stock Option and Incentive Plan. The Option vested in five (5) equal annual installments beginning one (1) year from date of grant.
- F5This option was previously reported as an option for 2,000 shares of common stock at an exercise price of $57.79, but was adjusted to reflect the special dividend declared by PSB on December 15, 2014.