Orrin S. Shifrin - Feb 9, 2022 Form 4 Insider Report for Equity Commonwealth (EQC)

Signature
/s/ Orrin S. Shifrin
Stock symbol
EQC
Transactions as of
Feb 9, 2022
Transactions value $
-$575,819
Form type
4
Date filed
2/11/2022, 07:01 AM
Previous filing
Jan 28, 2022
Next filing
Sep 21, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EQC Common Shares of Beneficial Interest Options Exercise +29.7K +13.69% 247K Feb 9, 2022 See footnote F1, F2
transaction EQC Common Shares of Beneficial Interest Award +9.54K +3.86% 257K Feb 9, 2022 See footnote F1, F2
transaction EQC Common Shares of Beneficial Interest Tax liability -$576K -22.2K -8.67% $25.89 234K Feb 9, 2022 See footnote F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EQC Restricted Share Units Options Exercise -29.7K -100% 0 Feb 9, 2022 Common Shares of Beneficial Interest 29.7K See footnote F2, F4, F5
transaction EQC Restricted Share Units Award +9.54K 9.54K Feb 9, 2022 Common Shares of Beneficial Interest 9.54K See footnote F2, F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Common Share of Beneficial Interest of Equity Commonwealth ("Common Share") was received in exchange for one Restricted Share Unit ("RSU"), subject to the terms and conditions set forth in the applicable Equity Commonwealth equity compensation plan and the applicable RSU agreement for the Reporting Person. Reflects Common Shares that were issued to the Reporting Person as a result of certain performance criteria being met with respect to previously granted RSUs and a portion of such RSUs vesting on the Transaction Date.
F2 These shares/units, as applicable, are held by the Orrin S. Shifrin Revocable Trust, of which the Reporting Person is the trustee and a beneficiary.
F3 Reflects Common Shares surrendered to the Issuer to satisfy tax withholding obligations in connection with the vesting of restricted Common Shares and RSUs.
F4 Each RSU represents the right to receive one Common Share, subject to the terms and conditions set forth in the applicable Equity Commonwealth equity compensation plan and the applicable RSU agreement for the Reporting Person.
F5 On February 9, 2021, the Reporting Person received 59,491 RSUs as a result of certain performance criteria being met with respect to previously granted RSUs, vesting in two equal installments on February 9, 2021 and in February of 2022, subject to the Reporting Person's continued employment with Equity Commonwealth through such date.
F6 Reflects RSUs that were issued to the Reporting Person as a result of certain performance criteria being met with respect to previously granted RSUs. These RSUs will vest in February of 2023, subject to the Reporting Person's continued employment with Equity Commonwealth through such date.