New York REIT, Inc. 4
4 · New York REIT, Inc. · Filed Jan 4, 2017
Insider Transaction Report
Form 4
Happel Michael A.
EVP and CIO
Transactions
- Conversion
OP Units
2017-01-03−826,347→ 0 total→ Common Stock (826,347 underlying) - Conversion
Common Stock
2017-01-03+826,347→ 1,099,061 total
Footnotes (2)
- [F1]On January 3, 2017, the reporting person redeemed 826,347 units of limited partnership interest ("OP Units") in New York Recovery Operating Partnership, L.P. (the "Operating Partnership") in exchange for 826,347 shares of common stock of New York REIT, Inc. (the "Company") in accordance with the terms and conditions of the limited partnership agreement of the Operating Partnership.
- [F2]OP Units are exchangeable for cash or, at the option of the Operating Partnership, shares of the Company's common stock on a one-to-one basis. OP Units are exchangeable, except under certain limited circumstances, beginning one year from the date of issuance, which includes the holding period of any units that were converted into OP Units, and have no expiration date.