SEC Form 4 · accession 0001209191-15-003897
POST PROPERTIES INC · PPS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David P Stockert
Officer — President and CEO · Director
Period of report
Jan 9, 2015
Accepted (ET)
Jan 13, 2015 · 4:22 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000903127
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jan 9, 2015 | M | 8,780 | — | A | 145,398 | D | |
| Common StockF2 | Jan 9, 2015 | F | 3,003 | $62.39 | D | 142,395 | D | |
| Common Stock | holding | — | — | — | 70,932 | I | By Spouse |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option/Stock Appreciation RightF1,F3 | $48.00 | Jan 9, 2015 | M | 38,070 | D | Feb 2, 2010 | Feb 2, 2017 | Common Stock | 38,070 | 0 | D |
Explanation of responses
- F1On February 2, 2007, reporting person received a grant of 38,070 shares under the Amended and Restated Post Properties, Inc. 2003 Incentive Stock Plan ("Plan"). The grant has fully vested. The terms of the grant provided the reporting person with a choice to treat the grant as options having an exercise price of $48.00 or as a stock appreciation right ("SAR"). The reporting person choose to treat 38,070 shares as a SAR on the exercise date. Thus, the computation of the 8,780 shares received was determined as follows: difference between the $62.39 fair market value on the date of exercise and the $48.00 exercise price ($14.39) times 38,070, then dividing that amount by the $62.39 fair market value.
- F2The balance includes 13,869 restricted shares that have not vested.
- F3Options/SARs fully vested.