SEC Form 4 · accession 0001140361-18-022780
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 9, 2018
Accepted (ET)
May 10, 2018 · 4:09 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 9, 2018 | M | 2,068 | $42.40 | A | 11,202 | D | |
| Common Stock | May 9, 2018 | S | 1,768 | $117.9136 | D | 9,434 | D | |
| Common StockF2 | 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)F3,F4 | $42.40 | May 9, 2018 | M | 2,068 | D | May 4, 2010 | May 4, 2019 | 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.
- F2By a custodian of an IRA for benefit of the reporting person.
- F3Stock 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.
- F4This option was previously reported as an option for 2,000 shares of common stock at an exercise price of $43.84, but was adjusted to reflect the special dividend declared by PSB on December 15, 2014.