Joseph F. Coradino - Mar 31, 2023 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: Mar 31, 2023
Transactions value $: -$19,208
Form type: 4
Date filed: 4/4/2023, 04:05 PM
Previous filing: Mar 8, 2023
Next filing: Apr 3, 2024

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		+17.8K	+62.55%		46.2K	Mar 31, 2023	Direct	F1
transaction	PRET	Shares of Beneficial Interest, par value $1.00 per share	Disposed to Issuer	-$19.2K	-17.8K	-38.48%	$1.08	28.4K	Mar 31, 2023	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		-17.8K	-50%		17.8K	Mar 31, 2023	Shares of Beneficial Interest	17.8K		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 May 12, 2021 pursuant to a Restricted Share Unit and Outperformance Unit Award Agreement (the "Award Agreement") in connection with entry into an amended and restated employment agreement. Each RSU will be settled in cash in an amount equal to the fair value of a share of Beneficial Interest of the issuer, par value $1.00 per share (a "Share"), on the applicable vesting date, multiplied by the number of RSUs that vest on such date. 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	53,354 cash-settled, time-based RSUs (this reflects the adjusted RSU total following the reverse share split, effective as of June 16, 2022) were granted pursuant to the Award Agreement, with the RSUs vesting in three equal annual installments beginning on March 31, 2022.

Content

Consists of restricted share units ("RSUs") granted on May 12, 2021 pursuant to a Restricted Share Unit and Outperformance Unit Award Agreement (the "Award Agreement") in connection with entry into an amended and restated employment agreement. Each RSU will be settled in cash in an amount equal to the fair value of a share of Beneficial Interest of the issuer, par value $1.00 per share (a "Share"), on the applicable vesting date, multiplied by the number of RSUs that vest on such date. 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.

53,354 cash-settled, time-based RSUs (this reflects the adjusted RSU total following the reverse share split, effective as of June 16, 2022) were granted pursuant to the Award Agreement, with the RSUs vesting in three equal annual installments beginning on March 31, 2022.