Sathana Semonsky - 06 Mar 2023 Form 4 Insider Report for PENNSYLVANIA REAL ESTATE INVESTMENT TRUST

Role: VP - Chief Accounting Officer
Signature: /s/ Sathana Semonsky
Issuer symbol: N/A
Transactions as of: 06 Mar 2023
Net transactions value: -$2,430
Form type: 4
Filing time: 08 Mar 2023, 15:05:18 UTC
Previous filing: 04 Apr 2022
Next filing: 04 Apr 2023
SEC: View on sec.gov

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		+1,857	+933%		2,056	06 Mar 2023	Direct	F1
transaction	PRET	Shares of Beneficial Interest, par value $1.00 per share	Disposed to Issuer	$2,430	-1,857	-90%	$1.31	199	06 Mar 2023	Direct	F1, 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		-1,857	-33%		3,713	06 Mar 2023	Shares of Beneficial Interest	1,857		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 on March 4, 2022 pursuant to the issuer's 2022-2024 Equity Award Program (the "2022-2024 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 4, 2023 for cash. Because March 4, 2023 was a Saturday, the cash settlement amount was determined based on the March 3, 2023 and March 6, 2023 Share price. 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 2022-2024 Program RSU grant consisted of 5,570 RSUs (this reflects the adjusted RSU total following the reverse share split, effective as of June 16, 2022) granted on March 4, 2022, with the RSUs vesting in three equal annual installments beginning on March 4, 2023.
F3	Represents the average of the highest and lowest selling price of a Share on March 3, 2023 and March 6, 2023.