SEC Form 4 · accession 0000920522-15-000058
ESSEX PROPERTY TRUST, INC. · ESS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Schall
Officer — President and CEO
Period of report
Dec 9, 2015
Accepted (ET)
Dec 11, 2015 · 4:15 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000920522
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTIP UnitsF1,F3,F2 | — | Dec 9, 2015 | A | 3,325 | A | — | — | Common Stock | 3,325 | 9,575 | D |
| LTIP UnitsF1,F4,F2 | — | Dec 9, 2015 | A | 1,663 | A | — | — | Common Stock | 1,663 | 4,788 | D |
Explanation of responses
- F1Represents LTIP Units in Essex Portfolio, L.P.
- F2Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and vesting as described in footnote 3 below, each LTIP Unit may be converted, at the election of the holder, into a unit of limited partnership interest in Essex Portfolio, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one share of Common Stock of the Issuer. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The rights to convert LTIP Units into Common Units and to convert Common Units into shares of Common Stock do not have expiration dates.
- F3Represents LTIP Units granted on December 9, 2014 that were earned on December 9, 2015 based on the achievement of certain performance criteria based on the Issuers relative total return to shareholders measured against industry-specific indices through December 9, 2015. These LTIP Units are scheduled to vest 20% on each of the first five anniversaries of December 9, 2014, subject to continued employment through such dates.
- F4Represents LTIP Units granted on December 9, 2014 that were earned on December 9, 2015 based on the achievement of certain performance criteria based on the Issuers relative total return to shareholders measured against industry-specific indices through December 9, 2015.
Remarks
Exhibit 24.1 - Power of Attorney