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Paramount Group, Inc. — Director's Dealing 2020
Jan 22, 2020
31887_dirs_2020-01-22_eee8e3fd-2c17-408a-9450-be92b58bd38f.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Paramount Group, Inc. (PGRE)
CIK: 0001605607
Period of Report: 2020-01-17
Reporting Person: Behler Albert P. (Director, Chairman, CEO and President)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2020-01-17 | LTIP Units | $ | A | 190986 | Acquired | Common Stock (190986) | Direct | |
| 2020-01-17 | LTIP Units | $ | A | 38212 | Acquired | Common Stock (38212) | Direct | |
| 2020-01-17 | LTIP Units | $ | A | 117674 | Acquired | Common Stock (117674) | Direct |
Footnotes
F1: LTIP Units issued pursuant to the Issuer's 2014 Equity Incentive Plan. The LTIP Units vest in four equal installments on each of February 15, 2021, 2022, 2023 and 2024, subject to continued employment.
F2: Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit will be converted automatically into a common unit of limited partnership interest ("OP Unit") in Paramount Group Operating Partnership LP. Each OP Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock. Such OP Units are generally not redeemable without the consent of the Issuer until two years from the date of the grant. The conversion feature of vested LTIP Units and the redemption rights for OP Units do not have expiration dates.
F3: Fully vested LTIP Units issued, pursuant to the Issuer's 2014 Equity Incentive Plan, in connection with a cash bonus exchange election made by the reporting person.
F4: LTIP Units earned upon the achievement of the performance hurdles pursuant to the 2016 Performance Program. Of the 117,674 LTIP Units, 58,837 LTIP Units vested on January 14, 2020 and the remaining 58,837 LTIP Units will vest on December 31, 2020.