SEC Form 4 · accession 0001140361-17-035216
PS BUSINESS PARKS INC/CA · PSB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert S Rollo
Director
Period of report
Sep 11, 2017
Accepted (ET)
Sep 12, 2017 · 5:06 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 | Sep 11, 2017 | M | 6,213 | $72.59 | A | 7,515 | D | |
| Common Stock | Sep 11, 2017 | M | 1,200 | $82.84 | A | 8,715 | D | |
| Common Stock | Sep 11, 2017 | M | 800 | $80.13 | A | 9,515 | D | |
| Common Stock | Sep 11, 2017 | M | 400 | $96.89 | A | 9,915 | D | |
| Common StockF2 | Sep 11, 2017 | S | 8,613 | $136.2417 | D | 1,302 | 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 | $72.59 | Sep 11, 2017 | M | 6,213 | D | Oct 3, 2014 | Oct 3, 2023 | Common Stock | 6,213 | 4,140 | D |
| Stock Option (right to buy)F3,F5 | $82.84 | Sep 11, 2017 | M | 1,200 | D | Apr 28, 2015 | Apr 28, 2024 | Common Stock | 1,200 | 800 | D |
| Stock Option (right to buy)F3 | $80.13 | Sep 11, 2017 | M | 800 | D | Apr 28, 2016 | Apr 28, 2025 | Common Stock | 800 | 1,200 | D |
| Stock Option (right to buy)F3 | $96.89 | Sep 11, 2017 | M | 400 | D | Apr 26, 2017 | Apr 26, 2026 | Common Stock | 400 | 1,600 | 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 2012 Equity and Performance-Based Incentive Compensation Plan, an option for 10,000 shares of common stock held by the reporting person on December 30, 2014 became exercisable for an additional 353 shares of common stock.
- F2Represents weighted average price. These shares were sold at prices ranging between $135.95 and $136.69. 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.
- F3Stock option granted pursuant to the 2012 Equity and Performance-Based Incentive Compensation Plan. This option vests in five (5) equal annual installments beginning one (1) year from the date of grant.
- F4This option was previously reported as an option for 10,000 shares of common stock at an exercise price of $75.06, but was adjusted to reflect the special dividend declared by PSB on December 15, 2014.
- F5This option was previously reported at an exercise price of $85.53, but was adjusted to reflect the special dividend declared by PSB on December 15, 2014.