Mark E. Pasquerilla - May 31, 2022 Form 4 Insider Report for PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (PRET)

Role
Director
Signature
/s/ Lisa M. Most (attorney-in-fact)
Stock symbol
PRET
Transactions as of
May 31, 2022
Transactions value $
-$29,315
Form type
4
Date filed
6/2/2022, 04:05 PM
Previous filing
May 16, 2022
Next filing
Jun 7, 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 Options Exercise +61.8K +36.2% 233K May 31, 2022 Direct F1
transaction PRET Shares of Beneficial Interest, par value $1.00 per share Disposed to Issuer -$29.3K -61.8K -26.58% $0.47 171K May 31, 2022 Direct F1
holding PRET Shares of Beneficial Interest, par value $1.00 per share 55.2K May 31, 2022 By Partnership F2
holding PRET Shares of Beneficial Interest, par value $1.00 per share 51.9K May 31, 2022 By Controlled Entity 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 PRET Restricted Share Units Options Exercise -61.8K -100% 0 May 31, 2022 Shares of Beneficial Interest 61.8K Direct F1, F4
* 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 under the issuer's Amended and Restated Pennsylvania Real Estate Investment Trust 2018 Equity Incentive Plan. 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 May 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 Held by Marenrico Partnership, an entity controlled by Mr. Pasquerilla.
F3 Held by Pasquerilla Enterprises LP, an entity controlled by Mr. Pasquerilla.
F4 The RSU grant consisted of 61,845 RSUs granted on May 28, 2021, with all RSUs vesting on May 31, 2022 (the first business day after May 28, 2022).