Pratt Henry F III 4
4 · PARKWAY PROPERTIES INC · Filed May 20, 2013
Insider Transaction Report
Form 4
Pratt Henry F III
EVP OF ASSET MANAGEMENT
Transactions
- Award
Common Stock
2013-05-16+9,960→ 158,410 total - Award
LTIP Units
2013-05-16+14,941→ 14,941 total→ Common OP Units (14,941 underlying) - Award
Employee Stock Option (Right to Buy)
2013-05-16+125,000→ 125,000 totalExercise: $17.21Exp: 2023-03-02→ Common Stock (125,000 underlying)
Footnotes (3)
- [F1]The award was approved by a committee of issuer's board of directors on March 2, 2013, subject to shareholder approval of the issuer's 2013 Omnibus Equity Incentive Plan under which the award was granted. The issuer's shareholders approved the plan on May 16, 2013.
- [F2]The option vests in four equal annual installments beginning on March 2, 2014.
- [F3]Represents LTIP Units in the issuer issued as long term incentive compensation pursuant to the issuer's 2013 Omnibus Equity Incentive Plan. Subject to the satisfication of certain performance -based vesting criteria relating to the attainment of total stockholder return targets during the period between March 2, 2013 and March 1, 2016 and certain restrictions set forth in the limited partnership agreement of Parkway Properties LP, each LTIP Unit may be converted, at the election of the reporting person or the issuer, into a common OP Unit. Each OP Unit acquired upon conversion of an LTIP Unit may be redeemed, at the election of the reporting person, for cash equal to the then fair market value of a share of Common Stock of the issuer, except that the issuer may, at its election, acquire each common OP Unit so presented for redemption for one share of Common Stock of the issuer.