Philip E. Coviello - Mar 1, 2023 Form 4 Insider Report for GETTY REALTY CORP /MD/ (GTY)

Role
Director
Signature
/s/ Philip E. Coviello
Stock symbol
GTY
Transactions as of
Mar 1, 2023
Transactions value $
$0
Form type
4
Date filed
3/2/2023, 08:31 AM
Previous filing
Feb 17, 2023
Next filing
Dec 13, 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 GTY Restricted Stock Unit Award +7K +11.57% 67.5K Mar 1, 2023 Common Stock 7K Direct F1, F2, F3
transaction GTY Restricted Stock Unit Options Exercise -4K -5.93% 63.5K Mar 2, 2023 Common Stock 4K Direct F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit (RSU) is settled at the discretion of the Compensation Committee in one share of common stock or in cash in an amount equal to the fair market value of one share of common stock on the settlement date noted in footnote (2) below.
F2 RSUs vest ratably over 5 years commencing on the 1st anniversary of the grant date, subject to continued service with the Issuer on each vesting date, except that to the extent unvested, RSUs fully vest upon death or upon termination of service for any reason other than the Reporting Person voluntarily electing to resign from the Board, voluntarily electing not to stand for re-election, or being involuntarily removed from the Board (excluding a failure to be re-elected by the stockholders). RSUs may also vest in the discretion of the Compensation Committee upon retirement from the Board, subject to the terms of the Issuer's Third Amended and Restated 2004 Omnibus Incentive Compensation Plan and the applicable grant agreement. RSUs are settled in cash or common stock, in the discretion of the Compensation Committee, upon the earlier of the 10th anniversary of the grant date (or 10th anniversary of the first vesting date for RSUs granted in 2016-2018), or termination of service.
F3 The RSUs were received by the Reporting Person for no consideration.
F4 The transaction represents settlement of fully-vested RSUs for cash pursuant to the terms of a 2013 Restricted Stock Unit Agreement.