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CENTERSPACE — Director's Dealing 2020
May 26, 2020
32208_dirs_2020-05-26_d857af7b-0775-4199-b1a6-facbfd3907b3.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: INVESTORS REAL ESTATE TRUST (IRET)
CIK: 0000798359
Period of Report: 2020-05-21
Reporting Person: Decker Mark Okey Jr (Director, President, CEO and CIO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2020-05-21 | Common Shares of Beneficial Interest | A | 1972 | — | Acquired | 24804 | Direct |
| 2020-05-21 | Common Shares of Beneficial Interest | A | 4627 | — | Acquired | 29431 | Direct |
| 2020-05-21 | Common Shares of Beneficial Interest | F | 835 | $66.36 | Disposed | 28596 | Direct |
| 2020-05-21 | Common Shares of Beneficial Interest | F | 1960 | $66.36 | Disposed | 26636 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2020-05-21 | Option (right to buy) | $66.36 | A | 67293 | Acquired | 2030-05-21 | Common Shares of Beneficial Interest (67293) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Shares of Beneficial Interest | 1525 | Indirect |
| Common Shares of Beneficial Interest | 20 | Indirect |
| Common Shares of Beneficial Interest | 20 | Indirect |
| Common Shares of Beneficial Interest | 20 | Indirect |
| Common Shares of Beneficial Interest | 20 | Indirect |
Footnotes
F1: On June 21, 2017, the reporting person was granted a performance share award based on the Company's consolidated leverage ratio for the measurement period beginning on May 1, 2017 and ending on April 30, 2020. For the measurement period, 81% of the target payout, or 1,972 shares, was awarded under the
performance share award.
F2: On June 21, 2017, the reporting person was granted a performance share award based on the Company's total shareholder return ("TSR") compared to the MSCI U.S. REIT Index for the measurement period beginning on May 1, 2017 and ending on April 30, 2020. For the measurement period, the Company's TSR was at the 73rd percentile of the Index, resulting in a payout at 190% of target, or 4,627 shares, being earned under the performance share award.
F3: Shares withheld for payment of taxes.
F4: The options vest in equal installments on May 21, 2021, January 1, 2022, January 1, 2023 and January 1, 2024.