Tibbetts Shawn J 4
4 · AH Realty Trust, Inc. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
AHRT CEO Shawn J. Tibbetts Exercises LTIP Units
What Happened
- Shawn J. Tibbetts, CEO, President and Director of AH Realty Trust, Inc. (AHRT), exercised/converter a derivative award on March 11, 2026, resulting in 55,080 underlying common units/shares. The exercise price was $0.00, so no cash was paid and the reported value is $0. This transaction reflects conversion of LTIP units into common units rather than an open-market purchase or sale.
Key Details
- Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (appears timely under the 2-business-day rule).
- Reported transactions: 55,080 units converted/exercised (listed as both disposition of the derivative and acquisition of the underlying common units); exercise price $0.00; total reported cash value $0.
- Shares owned after transaction: not specified in the provided filing extract.
- Relevant footnotes: F4 indicates these were Time‑Based LTIP Units granted March 11, 2024 converted at the holder’s election. F1–F3 explain that LTIP units convert to Operating Partnership Common Units (which are redeemable for cash or, at the company’s option, shares of common stock) and outline vesting/holding restrictions.
- This was a conversion/exercise of compensation awards (derivative instruments), not a sale (no proceeds) and not a purchase with cash.
Context
- These were Time‑Based LTIP Units (long‑term incentive plan units) being converted into common units; such LTIP units typically vest and may carry additional holding periods (per footnotes). The filing shows no immediate sale of the acquired units (i.e., not a cashless exercise and not an open‑market sale), so it does not signal a directional open‑market trade by the insider.
- Common Units received may be redeemable for cash or shares under the operating partnership agreement; conversion and any restrictions are governed by the OP Agreement and the award terms.
Insider Transaction Report
Form 4
Tibbetts Shawn J
DirectorCEO and President
Transactions
- Exercise of In-Money
Time-Based LTIP Units
[F1][F2][F3][F4]2026-03-11−55,080→ 654,711 total→ Common Stock (55,080 underlying) - Exercise of In-Money
Common Units
[F3][F5][F4]2026-03-11+55,080→ 55,080 total→ Common Stock (55,080 underlying)
Holdings
- 57,518
Common Stock
- 538,770
Performance LTIP Units
[F3][F6]→ Common Stock (538,770 underlying)
Footnotes (6)
- [F1]Represents Time-Based LTIP Units ("Time-Based LTIP Units") in AH Realty Trust, LP (the "Operating Partnership"), the operating partnership of AH Realty Trust, Inc. (the "Company"), and of which the Company is the general partner. Under the agreement of limited partnership of the Operating Partnership (the "OP Agreement") and subject to conditions set forth in the OP Agreement, following the date on which the Time-Based LTIP Units vest, Time-Based LTIP Units are convertible into common units of limited partnership interest in the Operating Partnership ("Common Units"), at the holder's option.
- [F2]Under the award agreement pursuant to which the Time-Based LTIP Units were granted to the reporting person, except in connection with a Change of Control (as defined in the OP Agreement), the Time-Based LTIP Units may not be converted to Common Units until two years following the date of grant. 436,046 of the Time-Based LTIP Units are also subject to an additional one year holding period following the vesting. Time-Based LTIP Units have no expiration date.
- [F3]Each Common Unit is redeemable for cash equal to the then-current market value of one share of the Company's common stock or, at the election of the Company, one share of the Company's common stock. Common Units have no expiration date.
- [F4]Represents the conversion of Time-Based LTIP Units granted on March 11, 2024 into Common Units at the election of the reporting person.
- [F5]Represents Common Units. All Common Units reflected in this report may be tendered for redemption by the holder.
- [F6]Represents Performance LTIP Units in the Operating Partnership ("Performance LTIP Units"). Under the OP Agreement and subject to conditions set forth in the OP Agreement, following the date on which the Performance LTIP Units vest, Performance LTIP Units are convertible into Common Units at the holder's option. Under the award agreement pursuant to which the Performance LTIP Units were granted to the Reporting Person, except in connection with a Change of Control (as defined in the OP Agreement), the Performance LTIP Units may not be converted to Common Units until two years following the date of grant. Additionally, 373,754 of the Performance LTIP Units are subject to an additional one year holding period following the vesting. Performance LTIP Units have no expiration date.
Signature
/s/ Matthew T. Barnes Smith, as Attorney-in-Fact for Shawn J. Tibbetts|2026-03-13