Rodney F. Emery - Dec 16, 2021 Form 4 Insider Report for Steadfast Apartment REIT, Inc. (NONE)

Role: Chief Executive Officer, Director
Signature: /s/ Gustav Bahn, as Attorney-In-Fact for Rodney F. Emery
Stock symbol: NONE
Transactions as of: Dec 16, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/16/2021, 08:25 AM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NONE	Common Stock	Disposed to Issuer		-558K	-100%		0	Dec 16, 2021	Direct	F1
transaction	NONE	Common Stock	Disposed to Issuer		-26.7K	-100%		0	Dec 16, 2021	By Steadfast REIT Investments, LLC	F1, F2
transaction	NONE	Common Stock	Disposed to Issuer		-11.4K	-100%		0	Dec 16, 2021	By Steadfast Apartment Advisor III, LLC	F1, F3
transaction	NONE	Common Stock	Disposed to Issuer		-9.53K	-100%		0	Dec 16, 2021	By Spouse	F1, F4

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	NONE	Class B OP Units	Disposed to Issuer		-6.16M	-100%		0	Dec 16, 2021	Common Stock	6.16M		By Steadfast REIT Investments, LLC	F5, F6, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Rodney F. Emery is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Reflects the disposition of shares of the issuer's common stock in connection with the merger (the "Merger") of the issuer with and into IRSTAR Sub, LLC, a wholly-owned subsidiary of Independence Realty Trust, Inc. ("IRT"). In the Merger, each share of the issuer's common stock, par value $0.01 per share, was converted into the right to receive 0.905 shares of common stock of IRT, par value $0.01 per share.
F2	Shares of common stock were held directly by Steadfast REIT Investments, LLC ("SRI"). The reporting person may be deemed to have beneficially owned the shares of common stock held by SRI, but the reporting person disclaims beneficial ownership of such shares except to the extent of the reporting person's pecuniary interest therein. The number of shares of common stock indicated in Item 5 does not include shares of common stock directly held by Steadfast Apartment Advisor, LLC ("STAR Advisor") and Steadfast Apartment Advisor III, LLC ("STAR III Advisor").
F3	Shares of common stock were held directly by STAR III Advisor, which is owned by SRI. The reporting person may be deemed to have beneficially owned the shares of common stock held by STAR III Advisor, but the reporting person disclaims beneficial ownership of such shares of common stock except to the extent of the reporting person's pecuniary interest therein.
F4	Shares of common stock were held directly by reporting person's spouse. The reporting person disclaims beneficial ownership of such shares, and this report shall not be deemed an admission that the reporting person was the beneficial owner of the shares for purposes of Section 16 or for any other purposes.
F5	Commencing two years from the date of issuance, each class B unit of limited partnership interest in Steadfast Apartment REIT Operating Partnership, L.P. ("STAR OP Units") is redeemable for cash equal to the then-current market value of one share of the issuer's common stock or, at the election of the issuer, one share of the issuer's common stock. STAR OP Units have no expiration date.
F6	Reflects the disposition of STAR OP Units in connection with the merger (the "OP Merger") of Steadfast Apartment REIT Operating Partnership, L.P. with and into Independence Realty Operating Partnership, LP, a Delaware limited partnership and a subsidiary of IRT. In the OP Merger, each of the STAR OP Units were converted into the right to receive 0.905 limited partnership interests in Independence Realty Operating Partnership, LP.
F7	The reporting person may be deemed to have beneficially owned the STAR OP Units held by SRI, but the reporting person disclaims beneficial ownership of such STAR OP Units except to the extent of the reporting person's pecuniary interest therein.