SEC Form 4 · accession 0001209191-16-109480
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, 2016
Accepted (ET)
Mar 18, 2016 · 4:17 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,F3 | Mar 16, 2016 | A | 19,908 | $0.00 | A | 236,573 | D | |
| Common Shares of Beneficial Interest ($0.001 par value)F3 | Mar 16, 2016 | F | 2,860 | $32.06 | D | 233,713 | D | |
| Common Shares of Beneficial Interest ($0.001 par value)F4,F3 | Mar 16, 2016 | A | 17,872 | $32.06 | A | 251,585 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Includes 7,440 restricted shares granted on March 16, 2016 that will vest on the third anniversary of the date of grant, subject to continued employment, as well as 3,488, 3,816 and 4,168 common shares issuable pursuant to restricted share units granted in 2013, 2014 and 2015, respectively, as compensation, the performance conditions relating to which have been satisfied, as well as 996 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.
- F3Reflects a decrease of 111 shares previously reported incorrectly as having been received by the reporting person pursuant to the Company's Dividend Reinvestment Plan.
- F4The 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 2015, 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, 2016 ($32.06).