SEC Form 4 · accession 0001209191-15-027516
LIBERTY PROPERTY TRUST · LRY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
George J Alburger Jr.
Officer — Exec. VP, CFO
Period of report
Mar 16, 2015
Accepted (ET)
Mar 18, 2015 · 4:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000921112
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Shares of Beneficial Interest ($0.001 par value)F1,F2 | Mar 16, 2015 | A | 9,612 | — | A | 212,190 | D | |
| Common Shares of Beneficial Interest ($0.001 par value) | Mar 16, 2015 | F | 3,773 | $35.18 | D | 208,417 | D | |
| Common Shares of Beneficial Interest ($0.001 par value)F3 | Mar 16, 2015 | A | 8,339 | $35.18 | A | 216,756 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F2,F4 | $35.18 | Mar 16, 2015 | A | 53,508 | A | — | Mar 16, 2025 | Common Shares | 53,508 | 53,508 | D |
Explanation of responses
- F1Consists of 4,562, 1,395 and 1,527 common shares issuable pursuant to restricted share units granted in 2012, 2013 and 2014, respectively, as compensation, the performance conditions relating to which have been satisfied, as well as 2,128 shares that accrued under the Company's Dividend Reinvestment Plan with respect to those restricted share units as to which the performance conditions have been satisfied.
- F2Received as employment compensation.
- F3The stock acquired reflects the election by the reporting person to receive common shares in lieu of cash for all or part of annual performance bonus compensation for 2014, consistent with a policy adopted by the Trust's Compensation Committee with respect to employee annual performance bonus compensation. By making such election, the reporting person received shares equal to 120% of the cash value of such bonus or portion thereof, less applicable withholding tax (the "Bonus Value"). The reporting person received the number of common shares able to be purchased with the dollar amount of the Bonus Value based on the closing price per share of the common shares on March 16, 2015 ($35.18).
- F4Options granted are exercisable 20% after the first anniversary of the date of grant, 50% after the second anniversary and fully after the third anniversary.