SEC Form 4 · accession 0000920522-18-000023
ESSEX PROPERTY TRUST, INC. · ESS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John F. Burkart
Officer — Sr. Executive Vice President
Period of report
May 11, 2018
Accepted (ET)
May 14, 2018 · 4:58 pm EDT
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 | May 11, 2018 | M | 1,500 | $143.03 | A | 7,429 | D | |
| Common Stock | May 11, 2018 | S | 1,500 | $243.21 | D | 5,929 | D | |
| Common StockF2 | May 11, 2018 | M | 1,000 | $152.63 | A | 6,929 | D | |
| Common Stock | May 11, 2018 | S | 1,000 | $243.17 | D | 5,929 | 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 | $143.03 | May 11, 2018 | M | 1,500 | D | Dec 11, 2012 | Dec 11, 2019 | Common Stock | 1,500 | 0 | D |
| Stock Option (Right to Purchase)F4 | $152.63 | May 11, 2018 | M | 1,000 | D | Dec 10, 2014 | Dec 10, 2023 | Common Stock | 1,000 | 0 | D |
Explanation of responses
- F1Under the option terms, the maximum value that the reporting person could receive is $75 per share. The value in excess of such amount, $25.18, was remitted to the Issuer by the reporting person in addition to the exercise price of $143.03.
- F2Under the options terms, the maximum value that the reporting person could receive is $100 per share.
- F3Vested 10% on December 11, 2012 and 20% on each annual anniversary thereafter.
- F4Vests 20% on December 10, 2014 and 1/60th on each monthly anniversary thereafter over four years.