SEC Form 4 · accession 0001209191-16-104900
HIGHWOODS PROPERTIES, INC. · HIW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin E Penn
Officer — SVP/Strategy & Admin
Period of report
Feb 29, 2016
Accepted (ET)
Mar 2, 2016 · 7:41 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000921082
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 29, 2016 | A | 3,082 | — | A | 28,920 | D | |
| Common StockF1,F2 | Feb 29, 2016 | A | 171 | — | A | 29,091 | D | |
| Common StockF3 | Feb 29, 2016 | F | 613 | — | D | 28,478 | D | |
| Common StockF3 | Mar 1, 2016 | F | 552 | — | D | 27,926 | 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 buy)F4 | $43.55 | Feb 29, 2016 | A | 7,313 | A | — | Feb 28, 2026 | Common Stock | 7,313 | 7,313 | D |
Explanation of responses
- F1Restricted stock is granted by the Company and not purchased by the reporting person.
- F2Represents the number of shares earned under the Company's Long-Term Incentive Plan - Total Shareholder Return Plan because the Company achieved above target levels of performance relative to predetermined goals.
- F3In accordance with the terms of the initial restricted stock award and in connection with the vesting of the award, the reporting person tendered a portion of the restricted stock award to the issuer in satisfaction of his tax liabilities.
- F4Options vest ratably over 4 years on March 1st of each year after the grant date.