Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | PGRE | LTIP Units | Award | $0 | +4.68K | $0.00 | 4.68K | Jan 30, 2024 | Common Stock | 4.68K | Direct | F1, F2 |
Id | Content |
---|---|
F1 | LTIP Units earned upon the achievement of the performance hurdles pursuant to the 2021 Performance Program. Of the 4,678 LTIP Units earned, 2,339 LTIP Units vested on January 30, 2024 and the remaining 2,339 LTIP Units will vest on December 31, 2024. |
F2 | Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit will be converted automatically into a common unit of limited partnership interest ("OP Unit") in Paramount Group Operating Partnership LP (the "Partnership"). Each OP Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock. Such OP Units are generally not redeemable without the consent of the Issuer until two years from the date of the grant. The conversion feature of vested LTIP Units and the redemption rights for OP Units do not have expiration dates. |
Senior Vice President, Chief Accounting Officer