SEC Form 4 · accession 0001209191-19-014596
LIBERTY PROPERTY TRUST · LRY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael T Hagan
Officer — Chief Investment Officer
Period of report
Feb 26, 2019
Accepted (ET)
Feb 28, 2019 · 5:12 pm EST
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 | Feb 26, 2019 | A | 32,407 | $0.00 | A | 194,052 | D | |
| Common Shares of Beneficial Interest ($0.001 par value) | Feb 27, 2019 | M | 34,114 | $32.71 | A | 228,166 | D | |
| Common Shares of Beneficial Interest ($0.001 par value)F3 | Feb 27, 2019 | S | 27,626 | $47.218 | D | 200,540 | D | |
| Common Shares of Beneficial Interest ($0.001 par value)F4 | Feb 27, 2019 | F | 1,634 | $47.55 | D | 198,906 | 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,F5 | $32.71 | Feb 27, 2019 | M | 34,114 | D | — | Mar 16, 2020 | Common Shares | 34,114 | 7,038 | D |
Explanation of responses
- F1Includes (i) 5,262 restricted common shares granted on February 26, 2019 that will vest on the third anniversary of the date of grant, subject to continued employment and (ii) 27,145 common shares consisting of common shares issuable pursuant to restricted share units granted in 2016, as compensation, the performance conditions relating to which have been satisfied, and shares that accrued under the Company's Dividend Reinvestment Plan with respect to such restricted share units.
- F2Received as employment compensation.
- F3Represents the weighted average of a range of sale prices per share from $47.18 to $47.245. The reporting person undertakes to provide to the Staff of the Securities and Exchange Commission, the Company or any shareholder of the Company, upon request, full information regarding the number of common shares sold at each separate price.
- F4Consists of shares withheld in payment of income taxes upon the vesting of shares issued pursuant to awards the vesting conditions relating to which have been satisfied, all of which such shares have been previously reported by the reporting person.
- F5Options became exercisable 20% after the first anniversary of the date of the grant, 50% after the second anniversary and fully after the third anniversary.