SEC Form 4 · accession 0001127602-15-021473
VIVMARK RESIDENTIAL · VMRK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Linda Bynoe
Director
Period of report
Jun 24, 2015
Accepted (ET)
Jun 26, 2015 · 4:34 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000906107
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Shares Of Beneficial InterestF1,F2 | Jun 24, 2015 | A | 1,261 | $0.00 | A | 8,160 | D | |
| Common Shares Of Beneficial InterestF3 | holding | — | — | — | 7,858 | I | SERP Account |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted UnitsF4,F5 | — | Jun 24, 2015 | A | 420 | A | — | Jun 24, 2025 | Common Shares Of Beneficial Interest | 420 | 420 | D |
Explanation of responses
- F1Represents restricted shares granted for prospective service from the 2015 Annual Meeting of Shareholders to the 2016 Annual Meeting of Shareholders which are scheduled to vest on June 24, 2016.
- F2Direct total includes restricted shares of the Company scheduled to vest in the future.
- F3Represents shares owned by Principal Trust Company, as Trustee of the Equity Residential Supplemental Executive Retirement Plan (the "SERP"), for the benefit of the reporting person. Also includes restricted shares that the reporting person deferred to the SERP upon vesting of the shares.
- F4On June 24, 2015, the reporting person received a grant of restricted limited partnership interests ("Restricted Units") in ERP Operating Limited Partnership (the "Operating Partnership"), the operating partnership of Equity Residential (the "Company"), in connection with the Company's annual grant of long-term compensation for prospective service from the 2015 Annual Meeting of Shareholders to the 2016 Annual Meeting of Shareholders. The reporting person made a payment to the Operating Partnership of $0.50 for each Restricted Unit awarded. Restricted Units are a class of partnership interest that automatically convert into an equal number of limited partnership interests of the Operating Partnership ("OP Units") when the capital account related to the Restricted Units reaches a specified target for federal income tax purposes (provided such target is reached within ten years of issuance). Subject to the vesting requirements of the grant and certain other restrictions, OP Units are exchangeable by the holder for common shares of the Company on a one-for-one basis or the cash value of such shares, at the Company's option. The Restricted Units reflected in this report also include any OP Units into which such Restricted Units automatically convert.
- F5The Restricted Units are scheduled to vest on June 24, 2016. In addition, the Restricted Units (including any OP Units into which they may automatically convert) are subject to a holding restriction until June 24, 2017.