Andrew M. Ioannou - Mar 31, 2022 Form 4 Insider Report for PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (PRET)

Signature
/s/ Andrew M. Ioannou
Stock symbol
PRET
Transactions as of
Mar 31, 2022
Transactions value $
-$21,986
Form type
4
Date filed
4/4/2022, 05:00 PM
Previous filing
Mar 8, 2022
Next filing
Jan 4, 2023

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 Options Exercise +34.6K +26.86% 163K Mar 31, 2022 Direct F1
transaction PRET Shares of Beneficial Interest, par value $1.00 per share Disposed to Issuer -$22K -34.6K -21.17% $0.64 129K Mar 31, 2022 Direct F1

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 PRET Restricted Share Units Options Exercise -34.6K -33.33% 69.2K Mar 31, 2022 Shares of Beneficial Interest 34.6K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of restricted share units ("RSUs") granted pursuant to the issuer's 2021-2023 Equity Award Program (the "2021-2023 Program"). Each RSU represents a contingent right to receive one share of Beneficial Interest, par value $1.00 per share (a "Share"), of the issuer. The RSUs may be settled in Shares or cash in the discretion of the issuer's Compensation Committee. The Compensation Committee determined to settle the RSUs that vested on March 31, 2022 for cash. For purposes of this Form 4, the cash settlement of the vested RSUs has been presented as the conversion of the vested RSUs into Shares and the simultaneous disposition of Shares to the issuer for cash.
F2 The 2021-2023 Program RSU grant consisted of 103,836 RSUs granted on March 31, 2021, with the RSUs vesting in three equal annual installments beginning on March 31, 2022.