Hasu P. Shah - Jun 1, 2021 Form 4 Insider Report for HERSHA HOSPITALITY TRUST (HT)

Role
Chairman of the Board, Director
Signature
/s/ Ashish R. Parikh, as attorney-in-fact
Stock symbol
HT
Transactions as of
Jun 1, 2021
Transactions value $
$64,772
Form type
4
Date filed
6/3/2021, 06:09 PM
Next filing
Jan 4, 2022

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 HT LTIP Units Award $64.8K +5.73K +1.65% $11.31 354K Jun 1, 2021 Class A Common Shares of Beneficial Interest 5.73K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 LTIP Units are a class of limited partnership units in Hersha Hospitality Limited Partnership (the "Operating Partnership"), of which the Issuer is the general partner, and represent a profit interest in the Operating Partnership. Initially, the LTIP Units do not have full parity with the Operating Partnership's common units of limited partnership interest ("Common Units") with respect to liquidating distributions. Upon the occurrence of certain "book-up" events described in the Operating Partnership's partnership agreement, the LTIP Units can over time achieve full parity with the Common Units for all purposes. If such parity is reached, vested LTIP Units are convertible into Common Units and, upon conversion and subject to the applicable holding period, may be redeemed for cash in an amount equal to the then fair market value of an equal number of the Issuer's common shares or converted into an equal number of the Issuer's common shares, as determined by the Issuer at its election.
F2 These LTIP units were issued in lieu of cash compensation at the election of the Officer.