SEC Form 4 · accession 0001127602-17-021504
MID AMERICA APARTMENT COMMUNITIES INC. · MAA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David P Stockert
Director
Period of report
Jun 13, 2017
Accepted (ET)
Jun 15, 2017 · 4:11 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000912595
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jun 13, 2017 | M | 7,937 | $66.10 | A | 92,242 | D | |
| Common StockF1 | Jun 13, 2017 | D | 4,865 | $107.86 | D | 87,377 | D | |
| Common StockF2 | Jun 13, 2017 | F | 1,025 | $107.86 | D | 86,352 | D | |
| Common Stock | holding | — | — | — | 54,812 | 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 Right | $66.10 | Jun 13, 2017 | M | 7,937 | D | Dec 1, 2016 | Jan 31, 2024 | Common Stock | 7,937 | 0 | D |
| Stock Options (Right to Buy) | $70.85 | holding | — | — | — | Dec 1, 2016 | Jan 28, 2023 | Common Stock | 5,758 | 5,758 | D |
| Stock Options (Right to Buy) | $81.41 | holding | — | — | — | Dec 1, 2016 | Feb 1, 2026 | Common Stock | 15,052 | 15,052 | D |
| Stock Options (Right to Buy) | $85.08 | holding | — | — | — | Dec 1, 2016 | Feb 3, 2025 | Common Stock | 6,198 | 6,198 | D |
Explanation of responses
- F1On December 1, 2016, the Issuer assumed a grant of 7,937 options previously made to the Reporting Person pursuant to the Agreement and Plan of Merger dated as of August 15, 2016, by and among the Issuer, Mid-America Apartments, L.P., Post Properties, Inc., Post GP Holdings, Inc. and Post Apartment Homes L.P. The terms of the grant provided the Reporting Person with a choice to treat the grant as options or as stock appreciation rights ("SARs"). Each SAR represents the right, upon exercise, to receive a number of shares of Common Stock equal in value to the amount, if any, by which the fair market value of Common Stock (as determined on the date of exercise) exceeds the exercise price. The Reporting Person chose to exercise all 7,937 options as SARs on the exercise date. The 4,865 shares of Common Stock represent the difference between the number of SARs exercised (7,937) and the number of shares of Common Stock issued as a result of the exercise (3,072).
- F2This represents the withholding of shares of Common Stock to satisfy the tax withholding liability associated with the exercise of the SARs that is reported on this Form 4.