SEC Form 4 · accession 0001209191-16-109733
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
Mar 17, 2016
Accepted (ET)
Mar 21, 2016 · 4:02 pm EDT
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 | Mar 17, 2016 | M | 3,217 | — | A | 161,481 | D | |
| Common StockF2 | Mar 17, 2016 | F | 1,073 | $60.26 | D | 160,408 | 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 | $37.04 | Mar 17, 2016 | M | 8,350 | D | Feb 7, 2014 | Feb 7, 2021 | Common Stock | 8,350 | 0 | D |
Explanation of responses
- F1On February 7, 2011, reporting person received a grant of 8,350 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 $37.04 or as a stock appreciation right ("SAR"). The reporting person choose to treat 8,350 shares as a SAR on the exercise date. Thus, the computation of the 3,217 shares received was determined as follows: difference between the $60.26 fair market value on the date of exercise and the $37.04 exercise price ($23.22) times 8,350, then dividing that amount by the $60.26 fair market value.
- F2The balance includes 26,416 restricted shares that have not vested.
- F3Options/SARs fully vested.