Fred J. Kleisner - Feb 13, 2024 Form 4 Insider Report for Stirling Hotels & Resorts, Inc. (NONE)

Role
Director
Signature
/s/ Frederick J. Kleisner
Stock symbol
NONE
Transactions as of
Feb 13, 2024
Transactions value $
$0
Form type
4
Date filed
2/15/2024, 04:16 PM
Previous filing
Feb 8, 2024
Next filing
May 22, 2024

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 NONE Special Limited Partnership Units Award $0 +1.59K $0.00 1.59K Feb 13, 2024 Common Stock $0.00 Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Special long-term incentive partnership units ("LTIP Units") in Stirling REIT OP, LP, the Issuer's operating subsidiary ("Subsidiary"). LTIP Units vest on the first anniversary after issuance (February 13, 2025). Vested LTIP Units, upon achieving parity with the Common Limited Partnership Units of the Subsidiary ("Common Units"), are convertible into Common Units at the option of the Reporting Person. See Footnote 4 discussing the convertibility of Common Units.
F2 The LTIP Unit awards reported herein were issued as an annual grant under the Issuer's Independent Director Compensation Plan.
F3 Neither the LTIP Units nor the Common Units have an expiration date.
F4 Common Units are redeemable for cash or, at the option of the Issuer, convertible into shares of the Issuer's common stock on a 1-for-1 basis as described in the Amended and Restated Agreement of the Subsidiary dated December 6, 2023.