Miller Jeffrey H 4
4 · Janus Living, Inc. · Filed Mar 24, 2026
Research Summary
AI-generated summary of this filing
Janus Living (JAN) COO Jeffrey H. Miller Buys Shares, Receives Award
What Happened
Jeffrey H. Miller, Chief Operating Officer of Janus Living, purchased 7,500 shares at $20.00 per share on 2026-03-23 for a cash outlay of $150,000. On the same date he was also granted 12,500 LTIP Units (recorded at $0.00), a derivative award issued in connection with the company’s IPO.
Key Details
- Transaction date: 2026-03-23; Form 4 filed 2026-03-24 (timely).
- Open-market/private purchase (code P): 7,500 shares × $20.00 = $150,000. Footnote F1 indicates these shares were purchased from the IPO underwriters.
- Award/grant (code A): 12,500 LTIP Units recorded at $0.00 (derivative award); footnotes F2 and F3 explain these are fully vested LTIP Units granted in connection with the IPO.
- Shares owned after the transaction: Not disclosed in the supplied filing.
- Not a sale or option exercise—this includes a cash purchase and a zero-price award; no 10b5-1 plan or tax-withholding note stated.
Context
LTIP Units are a class of partnership/profits-interest units in Janus Living’s operating subsidiary that do not expire. Per the filing, they are intended to qualify as profits interests for U.S. tax purposes, are fully vested, and can be converted (at holder election) into OP Units; OP Units are redeemable for cash equal to the fair market value of a Class A-1 share or may be converted by the OP to Class A-1 shares on a one-for-one basis. The LTIP grant is an equity award tied to the IPO and does not require a cash exercise.
Insider Transaction Report
- Purchase
Class A-1 Common Stock
[F1]2026-03-23$20.00/sh+7,500$150,000→ 7,500 total - Award
LTIP Units
[F2][F3]2026-03-23+12,500→ 12,500 total→ Class A-1 Common Stock (12,500 underlying)
Footnotes (3)
- [F1]Represents shares purchased from the underwriters in the Issuer's initial public offering of Class A-1 Common Stock ("IPO").
- [F2]Represents a class of common units of membership interest in Janus Living OP, LLC, ("Janus OP"), the operating subsidiary of the Issuer, designated as LTIP Units ("LTIP Units") intended to qualify as profits interests for U.S. federal income tax purposes. LTIP Units do not have an expiration date. Upon achieving equivalent capital account balance per unit and any applicable vesting conditions, the LTIP Units are convertible at the election of the holder into common units of membership interest in Janus OP (the "OP Units"). The OP Units are redeemable, at the election of the holder, for cash equal to the fair market value of one share of the Issuer's Class A-1 Common Stock or, at the option of Janus OP, convertible to shares of the Issuer's Class A-1 Common Stock on a one-for-one basis, and have no expiration date.
- [F3]Represents fully vested LTIP Units granted in connection with the IPO.