Joseph F. Coradino - Feb 9, 2022 Form 4 Insider Report for PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (PRET)

Role
Chief Executive Officer, Director
Signature
/s/ Joseph F. Coradino
Stock symbol
PRET
Transactions as of
Feb 9, 2022
Transactions value $
-$221,470
Form type
4
Date filed
2/11/2022, 06:31 PM
Previous filing
Jun 11, 2021
Next filing
Feb 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRET Shares of Beneficial Interest, par value $1.00 per share Award $0 +501K +83.58% $0.00 1.1M Feb 9, 2022 Direct F1, F2
transaction PRET Shares of Beneficial Interest, par value $1.00 per share Tax liability -$221K -250K -22.76% $0.88 849K Feb 9, 2022 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the number of performance-contingent outperformance units, or OPUs, determined by the Issuer's Compensation Committee to have been earned as a result of the Issuer's achievement of certain specified operating outperformance metrics over a three-year measurement period from 2019 through 2021. The OPUs represent the right to receive Shares of Beneficial Interest, and as a result, the same number of shares of Beneficial Interest are issued. Of this total number of shares, 50% are immediately vested upon issuance, and the remaining 50% are restricted and vest in equal installments on December 31, 2022 and December 31, 2023.
F2 Includes 127,237 shares held pursuant to an employee share purchase plan.