Empire State Realty Trust, Inc. 4
4 · Empire State Realty Trust, Inc. · Filed Feb 20, 2015
Insider Transaction Report
Form 4
Kessler John B
President and COO
Transactions
- Award
LTIP Units
2015-02-18+31,800→ 45,536 total→ Class A Common Stock (31,800 underlying)
Footnotes (1)
- [F1]Represents long term investment plan units ("LTIP Units"), a class of units of Empire State Realty OP, L.P. (the "Operating Partnership"). The LTIP Units are covertible by the reporting person, upon vesting, into an equivalent number of units of limited partnership interests ("Operating Partnership Units") of the Operating Partnership, which are redeemable by the holder for shares of Class A Common Stock of Empire State Realty Trust, Inc. (the "Issuer") on a one-for-one basis or the cash value of such shares, at the Issuer's option. The rights to convert LTIP units into Operating Partnership Units and redeem Operating Partnership Units do not have expiration dates. The LTIP Units, which vest 25% ratably over four years from the date of grant, were granted under the Empire State Realty Trust, Inc. and Empire State Realty OP, L.P. 2013 Equity Incentive Plan.