| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | AIRC | Class A Common Stock | Sale | -$1.44M | -26.1K | -88.27% | $55.00 | 3.47K | Dec 31, 2021 | Direct | F1, F2, F3, F4, F5, F6 |
| Id | Content |
|---|---|
| F1 | Taking into account the transaction reported on this form, Mr. Considine has an overall equity stake in the company of 6,469,878 shares, partnership units, and options, the details of which are more fully described in footnotes 4, 5, and 6 below. |
| F2 | Due to an error by the reporting person's broker, incomplete trade data was provided prior to the Form 4 due date. This amendment is being filed to correct the broker's error. Specifically, the broker initially reported 15,001 shares sold at a weighted average price of $54.9626, which sales were timely reported by the reporting person on a Form 4 filed January 3, 2022. Upon review, and after timely filing the Form 4, the broker identified that the number of shares sold was 26,108 at a weighted average price of $54.9997. The price range of the sales remained unchanged (see footnote 3). |
| F3 | This price is a weighted average price. The price at which the shares were actually sold ranged from $54.73 to $55.19. The reporting person has provided to the issuer and will provide to any security holder or the staff of the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each price within the range. |
| F4 | The reporting person holds 3,469 shares directly and 16,000 in a trust for which the reporting person disclaims beneficial ownership. In addition, the reporting person holds 2,160,007 common partnership units and equivalents in Apartment Income REIT, L.P. ("OP Units"). The 2,160,007 OP Units include 270,452 OP Units held directly by the reporting person, 179,735 OP Units held by an entity in which the reporting person has sole voting and investment power, 1,591,672 OP Units held by Titahotwo Limited Partnership RLLLP ("Titahotwo"), an entity for which the reporting person serves as the general partner and holds a 0.5% interest, and 118,148 OP Units held by the reporting person's spouse, for which the reporting person disclaims beneficial ownership except to the extent of his pecuniary interest therein. In addition, the reporting person holds 114,768 LTIP Units (which are the equivalent of OP Units) and 413,231 LTIP II Units. |
| F5 | In addition to the 3,469 shares held directly, the reporting person holds 3,011,846 unvested partnership units, the vesting of which are subject to certain performance criteria. Upon conclusion of the performance period and depending on the results thereof, the reporting person may vest in all, some or none of the performance-based partnership units. |
| F6 | In addition, as part of his overall equity stake, the reporting person holds 750,557 stock options, which are vested and exercisable. |
The purposes of the dispositions reported 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.