Seritage Growth Properties — Director's Dealing 2020

Mar 27, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Seritage Growth Properties (SRG)
CIK: 0001628063
Period of Report: 2020-03-02

Reporting Person: Fernand Matthew E (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-02	Class A Common Shares	A	4563	—	Acquired	26791	Direct
2020-03-02	Class A Common Shares	A	2618	—	Acquired	29409	Direct

Footnotes

F1: Represents Restricted Share Units awarded under the terms of a performance award previously granted to the reporting person under the Seritage Growth Properties 2015 Share Plan on February 27, 2017 based on a per share grant date value of $47.31 and covering the performance period January 1, 2017 to December 31, 2019. Such number of Restricted Share Units is based on the determination by the compensation committee of the board of directors of the issuer of the applicable level of performance achievement. Half of the reported number of Restricted Share Units vested on March 2, 2020, when the performance determination was approved, and were settled in Class A common shares of the issuer on March 25, 2020 and the remaining half will vest on January 1, 2021, subject to the reporting person's continued employment with the issuer, and will be settled within 30 days thereafter.

F2: Represents a grant of Restricted Share Units awarded under the Seritage Growth Properties 2015 Share Plan on March 2, 2020 based on a per share grant date value of $33.44. This award will vest in substantially equal installments on the anniversaries of the date of grant in 2021, 2022 and 2023.

F3: Includes 10,021 unvested Restricted Share Units, as of the date of this filing, after taking into account the transactions reported herein.