Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | PGRE | LTIP Units | Award | $0 | +15.2K | $0.00 | 15.2K | Dec 16, 2024 | Common Stock | 15.2K | Direct | F1, F2 |
Id | Content |
---|---|
F1 | Fully vested LTIP Units issued pursuant to the Issuer's 2024 Equity Incentive Plan in connection with an election made by the reporting person to exchange annual retainer for LTIP units. |
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. 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. |