Joshua Minix - Jun 28, 2024 Form 4 Insider Report for Apartment Income REIT Corp. (AIRC)

Role
Executive Vice President
Signature
/s/ Joshua Minix
Stock symbol
AIRC
Transactions as of
Jun 28, 2024
Transactions value $
-$153,585
Form type
4
Date filed
7/2/2024, 09:48 PM
Previous filing
Jan 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AIRC Class A Common Stock Disposed to Issuer -$21.4K -548 -13.96% $39.12 3.38K Jun 28, 2024 Direct F1, F2
transaction AIRC Class A Common Stock Disposed to Issuer -$132K -3.38K -100% $39.12 0 Jun 28, 2024 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Joshua Minix is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On June 28, 2024, the Issuer was acquired by Apex Purchaser LLC, Aries Purchaser LLC and Astro Purchaser LLC (collectively, the "Parent Entities"), pursuant to that certain Agreement and Plan of Merger entered into by and among the Issuer, the Parent Entities and Astro Merger Sub, Inc., a wholly owned subsidiary of the Parent Entities and an affiliate of Blackstone Real Estate Partners X L.P. ("Merger Sub"), dated as of April 7, 2024 (the "Merger Agreement"). Pursuant to the terms of the Merger Agreement, Merger Sub merged with and into the Issuer, with the Issuer surviving such merger as a wholly-owned subsidiary of the Parent Entities (the "Merger").
F2 At the effective time of the Merger (the "Effective Time"), each share of the Issuer's Class A common stock outstanding immediately prior to the Effective Time (other than certain excluded shares) was automatically canceled and converted into the right to receive $39.12 in cash, without interest and subject to any required withholding taxes (the "Merger Consideration").
F3 Reflects unvested time-based restricted stock awards. At the Effective Time, each Issuer restricted stock award outstanding immediately prior to the Effective Time, whether vested or unvested, was automatically canceled and converted into the right to receive an amount in cash (without interest and subject to applicable withholdings), equal to the product obtained by multiplying (x) the aggregate number of shares of Class A Common Stock subject to such restricted stock award by (y) the Merger Consideration.