Andrew M. Ioannou - Mar 6, 2023 Form 4 Insider Report for PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (PRET)

Role
EVP - Finance and Acquisitions
Signature
/s/ Andrew M. Ioannou
Stock symbol
PRET
Transactions as of
Mar 6, 2023
Transactions value $
-$7,162
Form type
4
Date filed
3/8/2023, 03:05 PM
Previous filing
Feb 17, 2023
Next filing
Apr 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 +5.47K +85.79% 11.9K Mar 6, 2023 Direct F1
transaction PRET Shares of Beneficial Interest, par value $1.00 per share Disposed to Issuer -$7.16K -5.47K -46.18% $1.31 6.38K Mar 6, 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 -5.47K -33.34% 10.9K Mar 6, 2023 Shares of Beneficial Interest 5.47K 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 16,414 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.