Terry Considine - 29 Dec 2021 Form 4 Insider Report for Apartment Income REIT, L.P.

Role
CEO, Director
Signature
Terry Considine
Issuer symbol
N/A
Transactions as of
29 Dec 2021
Net transactions value
-$12,692,400
Form type
4
Filing time
03 Jan 2022, 07:15:06 UTC
Previous filing
29 Dec 2021
Next filing
12 Jan 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction Common Partnership Units Disposed to Issuer $12,692,400 -240,000 -47% $52.88 270,452 29 Dec 2021 Direct F1, F2
transaction Common Partnership Units Gift -39,550 -25% 118,148 30 Dec 2021 See Footnote F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Taking into account the transactions reported on this form, Mr. Considine has an overall equity stake in the company of 6,480,985 shares, partnership units, and options.
F2 Pursuant to the Seventh Amended and Restated Partnership Agreement (the "Partnership Agreement") of Apartment Income REIT, L.P. (the "Partnership") a holder of common partnership units may tender such units for redemption. The Partnership may, in its sole discretion, elect to redeem the units for cash or equity pursuant to the terms of the Partnership Agreement. This amount reflects common partnership units tendered for redemption by the reporting person, which the Partnership redeemed for cash.
F3 The reporting person's spouse donated 39,550 common partnership units to several 501c3 organizations to fund charitable giving.
F4 Charitable gifts to 501c3 organizations, price column not applicable.
F5 Held by the reporting person's spouse, for which the reporting person disclaims beneficial ownership except to the extent of his pecuniary interest therein.

Remarks:

The purposes of the dispositions reported this week were to repay bank debt incurred primarily with respect to (i) taxes and tax planning due to non-cash income recognized in 2020 and 2021 and (ii) funding continuing charitable commitments.