Apple Hospitality REIT, Inc. 4
4 · Apple Hospitality REIT, Inc. · Filed Mar 4, 2014
Insider Transaction Report
Form 4
MCKENNEY DAVID S
President of Capital Markets
Transactions
- Award
Common Shares
2014-03-01+727,306.594→ 727,306.594 total - Other
Series B Preferred
2014-03-01+30,090→ 30,090 total - Award
Common Shares
2014-03-01+363,653.297→ 1,090,959.891 total - Award
Common Shares
2014-03-01+309,105.302→ 1,400,065.193 total - Disposition to Issuer
Series B Preferred
2014-03-01−30,090→ 0 total
Footnotes (4)
- [F1]Pursuant to Section 5.1(f) of the articles of incorporation, upon conversion, each Series B Preferred Share of the issuer automatically converts into 24.17104 Common Shares of the issuer. There was no active trading market for the Series B Preferred Shares or Common Shares as of March 1, 2014. In the joint proxy statement/prospectus of the mergers detailed in footnotes 2 and 3 below, the preliminary estimate of the fair value of the Common Shares as of 9/30/2013 for purposes of the Unaudited Pro Forma Condensed Consolidated Financial Statements was $10.00 per Common Share.
- [F2]Received in exchange for 15,045 Series B Preferred Shares of Apple REIT Seven, Inc. (Apple Seven) in connection with the merger of Apple Seven into a wholly-owned subsidiary of the issuer (the Apple Seven Merger). There was no active trading market for Apple Seven Series B Preferred Shares or Apple Nine Common Shares as of the date of the Apple Seven Merger. In the joint proxy statement/prospectus of the Apple Seven Merger, the preliminary estimate of the fair value of Apple Nine Common Shares as of 9/30/2013 for purposes of the Unaudited Pro Forma Condensed Consolidated Financial Statements was $10.00 per Apple Nine Common Share.
- [F3]Received in exchange for 15,045 Series B Preferred Shares of Apple REIT Eight, Inc. (Apple Eight) in connection with the merger of Apple Eight into a wholly-owned subsidiary of the issuer (the Apple Eight Merger). There was no active trading market for Apple Eight Series B Preferred Shares or Apple Nine Common Shares as of the date of the Apple Eight Merger. In the joint proxy statement/prospectus of the Apple Eight Merger, the preliminary estimate of the fair value of Apple Nine Common Shares as of 9/30/2013 for purposes of the Unaudited Pro Forma Condensed Consolidated Financial Statements was $10.00 per Apple Nine Common Share.
- [F4]Glade M. Knight, the record holder of all the outstanding Series B Preferred Shares of the issuer, previously agreed to assign certain benefits (if any) to the reporting person associated with 30,090 Series B Preferred Shares, including the right of conversion upon the occurrence of certain events. The right of conversion was exercised on March 1, 2014 as a condition to the mergers detailed in footnotes 2 and 3 above.