Ryan S. MacDonald - 12 Apr 2022 Form 4 Insider Report for Bluerock Residential Growth REIT, Inc.

Role: Chief Investment Officer
Signature: /s/ Christopher J. Vohs, Attorney-in-fact
Issuer symbol: N/A
Transactions as of: 12 Apr 2022
Net transactions value: $0
Form type: 4
Filing time: 14 Apr 2022, 17:25:29 UTC
Previous filing: 04 Jan 2022
Next filing: 07 Oct 2022
SEC: View on sec.gov

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	BRG	LTIP Units	Disposed to Issuer		-1,985	-0.34%		584,774	12 Apr 2022	Class A Common Stock	1,985		See Footnote	F1
transaction	BRG	LTIP Units	Award		-12,844	-2.1%		597,618	12 Apr 2022	Class A Common Stock	12,844		See Footnote	F2
transaction	BRG	LTIP Units	Award		-10,124	-1.6%		607,742	12 Apr 2022	Class A Common Stock	10,124		See Footnote	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the forfeiture of long-term incentive plan units ("LTIP Units") in Bluerock Residential Holdings, LP (the "Operating Partnership"), of which the Issuer is the general partner, granted to the reporting person on January 1, 2019, which were eligible to vest subject to achievement of certain performance criteria and established targets over a three-year performance period. Upon grant, the maximum vesting amount was reported in Table II of Form 4. On April 12, 2022, the Issuer determined that, based on the Issuer's performance over the applicable performance period, 39,822 LTIP Units would vest and 1,985 LTIP Units would be forfeited.
F2	Represents LTIP Units in the Operating Partnership, of which the Issuer is the general partner. These LTIP Units are issued in payment of a portion of the annual incentive bonus for the fiscal year ended December 31, 2021. These LTIP Units are vested upon issuance and may convert to OP Units upon reaching capital account equivalency with the OP Units held by the Issuer, and may then be redeemed for cash or, at the option of the Issuer and after a one year holding period (including any period during which the LTIP Units were held), settled in shares of the Issuer's Class A common stock on a one-for-one basis.
F3	Represents LTIP Units in the Operating Partnership, of which the Issuer is the general partner. These LTIP Units are issued in payment of a portion of the annual incentive bonus for the fiscal year ended December 31, 2021. These LTIP Units will vest on the first anniversary of issuance and may convert to OP Units upon reaching capital account equivalency with the OP Units held by the Issuer, and may then be redeemed for cash or, at the option of the Issuer and after a one year holding period (including any period during which the LTIP Units were held), settled in shares of the Issuer's Class A common stock on a one-for-one basis.