Danica Holley - Feb 28, 2023 Form 4 Insider Report for Global Medical REIT Inc. (GMRE)

Signature
/s/ Jamie Barber, as Attorney-in-Fact
Stock symbol
GMRE
Transactions as of
Feb 28, 2023
Transactions value $
$0
Form type
4
Date filed
2/28/2023, 06:24 PM
Previous filing
Feb 24, 2023
Next filing
Aug 25, 2023

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 GMRE LTIP Unit (Right to Buy) Award $0 +4.86K +2.32% $0.00 215K Feb 28, 2023 Common Stock 4.86K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents units of limited partnership interest ("LTIP Units") in Global Medical REIT L.P. (the "OP"), the operating partnership of the Issuer. The Issuer's Board of Directors determined that on February 28, 2023, 50% of the LTIP Units will become vested and nonforfeitable as a result of meeting certain market-based performance criteria as of December 31, 2022 and February 28, 2023 and 50% of the LTIP Units will vest on February 28, 2024 pursuant to the grant award agreement stipulations. The LTIP Units were awarded pursuant to an LTIP Unit vesting agreement, the form of which was filed as Exhibit 10.1 to the Issuer's Quarterly Report on Form 10-Q filed on May 6, 2022. The LTIP Units were issued pursuant to the Issuer's 2016 Equity Incentive Plan (as amended from time to time) and have no expiration date.
F2 As described in the OP's partnership agreement, vested LTIP Units that have achieved capital account parity may be exchanged at any time after vesting for cash or, at the election of the Issuer, for shares of Common Stock on a one-for-one basis. LTIP Units have no expiration date.