SEC Form 4 · accession 0001209191-16-152532
POST PROPERTIES INC · PPS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Russell R French
Director
Period of report
Nov 30, 2016
Accepted (ET)
Nov 30, 2016 · 6:16 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 | Nov 30, 2016 | D | 32,174 | — | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom stock unitsF2 | — | Nov 30, 2016 | D | 25,485 | D | — | — | Common Stock | 25,485 | 0 | D |
Explanation of responses
- F1As of November 30, 2016, Issuer was acquired by Mid-America Apartment Communities, Inc. ("MAA") pursuant to a merger agreement dated August 15, 2016 (Merger Agreement"), as described in the Issuer/MAA Joint Proxy Statement dated September 30, 2016 and filed by MAA with the SEC on that date (the "Merger"). Each outstanding share of Issuer Common Stock was converted into .71 shares of MAA Common Stock ("Exchange Ratio") with cash paid for fractional shares. All dispositions by Reporting Person in the Merger were approved in advance by Issuer's Board of Directors.
- F2Phantom stock units were held in the Post Properties, Inc. Amended and Restated Deferred Compensation Plan. Value of the units was settled in cash in accordance with the Merger Agreement.