Orrin S. Shifrin - Feb 7, 2023 Form 4 Insider Report for Equity Commonwealth (EQC)

Role: EVP, Gen. Counsel & Secretary
Signature: /s/ Orrin S. Shifrin
Stock symbol: EQC
Transactions as of: Feb 7, 2023
Transactions value $: -$434,755
Form type: 4
Date filed: 2/8/2023, 03:51 PM
Previous filing: Jan 27, 2023
Next filing: Aug 10, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EQC	Common Shares of Beneficial Interest	Options Exercise		+9.54K	+4.83%		207K	Feb 7, 2023	See footnote	F1, F2
transaction	EQC	Common Shares of Beneficial Interest	Award		+18.7K	+9.02%		226K	Feb 7, 2023	See footnote	F1, F2
transaction	EQC	Common Shares of Beneficial Interest	Tax liability	-$435K	-17.2K	-7.62%	$25.30	208K	Feb 7, 2023	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		-9.54K	-100%		0	Feb 7, 2023	Common Shares of Beneficial Interest	9.54K		See footnote	F2, F4, F5
transaction	EQC	Restricted Share Units	Award		+18.7K			18.7K	Feb 7, 2023	Common Shares of Beneficial Interest	18.7K		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, 2022, the Reporting Person received 19,078 RSUs as a result of certain performance criteria being met with respect to previously granted RSUs, vesting in two equal installments on February 9, 2022 and in February of 2023, 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 2024, subject to the Reporting Person's continued employment with Equity Commonwealth through such date.