Seritage Growth Properties — Director's Dealing 2021

Mar 19, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Seritage Growth Properties (SRG)
CIK: 0001628063
Period of Report: 2021-03-05

Reporting Person: Galvin Andrew (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-03-05	Class A Common Shares	A	1602	—	Acquired	4572	Direct
2021-03-05	Class A Common Shares	A	7998	—	Acquired	12570	Direct
2021-03-16	Class A Common Shares	F	1094	$20.73	Disposed	11476	Direct
2021-03-16	Class A Common Shares	F	145	$23.16	Disposed	11331	Direct

Footnotes

F1: Represents Restricted Share Units ("RSUs") earned under the terms of an annual performance award previously granted to the reporting person under the Seritage Growth Properties 2015 Share Plan on March 2, 2018 covering the performance period January 1, 2018 to December 31, 2020. Such number of RSUs is based on the determination by the compensation committee of the board of trustees of the issuer of the applicable level of performance achievement. These RSUs vested on March 5, 2021, when the performance determination was approved, and were settled on March 16, 2021.

F2: Represents grants of RSUs awarded under the Seritage Growth Properties 2015 Share Plan on March 5, 2021 based on a per share grant date value of $21.47. Each of these awards will vest in substantially equal installments on the anniversaries of the date of grant in 2022, 2023 and 2024.

F3: Represents shares withheld by the issuer to cover tax obligations of the reporting person in connection with the settlement of time-based and performance-based RSUs.

F4: Includes 9,184 unvested RSUs, as of the date of this filing, after taking into account the transactions reported herein.