SEC Form 4 · accession 0000920522-17-000106
ESSEX PROPERTY TRUST, INC. · ESS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Farias
Officer — Senior Vice President and CAO
Period of report
Dec 7, 2017
Accepted (ET)
Dec 15, 2017 · 1:45 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000920522
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Dec 7, 2017 | A | 120 | $0.00 | A | 662 | D | |
| Common StockF2 | Dec 7, 2017 | A | 73 | $0.00 | A | 735 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Purchase)F3 | $240.61 | Dec 7, 2017 | A | 5,040 | A | Dec 7, 2018 | Dec 7, 2027 | Common Stock | 5,040 | 5,040 | D |
Explanation of responses
- F1Represents restricted stock units that are fully vested as of the grant date and are subject to restrictions on transfer for the three-year period following the date of grant. In accordance with applicable Form 4 reporting requirements, the foregoing excludes 279 restricted stock units also granted on December 7, 2017, that may be earned subject to achievement of certain performance criteria based on the Issuer's relative total return to shareholders measured against an industry-specific index through December 7, 2020.
- F2Represents restricted stock units that vest 100% on the third anniversary of December 7, 2017, subject to continued employment through such date. In accordance with the applicable Form 4 reporting requirements, the foregoing excludes 169 restricted stock units also granted on December 7, 2017 that are scheduled to vest 100% on the third anniversary of December 7, 2017, subject to continued employment through such date and the achievement of certain performance criteria based on the Issuer's relative total return to shareholders measured against an industry-specific index through December 7, 2020.
- F31/3 of these options vest on each anniversary starting on December 7, 2018 and ending on December 7, 2020. Stock options are subject to a $100 cap upon exercise.