Kenneth B. Hart - Aug 3, 2023 Form 4 Insider Report for PENNSYLVANIA REAL ESTATE INVESTMENT TRUST (PRET)

Role
Director
Signature
/s/ Kenneth B. Hart
Stock symbol
PRET
Transactions as of
Aug 3, 2023
Transactions value $
-$14,973
Form type
4
Date filed
8/7/2023, 05:24 PM
Previous filing
Jun 14, 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 +25.3K +2814.24% 26.2K Aug 3, 2023 Direct F1
transaction PRET Shares of Beneficial Interest, par value $1.00 per share Disposed to Issuer -$15K -25.3K -96.57% $0.59 899 Aug 3, 2023 Direct F1
holding PRET Shares of Beneficial Interest, par value $1.00 per share 460 Aug 3, 2023 See Footnote F2

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 -25.3K -100% 0 Aug 3, 2023 Shares of Beneficial Interest 25.3K Direct F1, F3
* 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 August 3, 2023 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 Owned by the brother of the Reporting Person. The Reporting Person shares dispositive power over such shares.
F3 The RSU grant consisted of 25,300 RSUs granted on August 3, 2022, with all RSUs vesting on August 3, 2023.