Gary T. Wagner - 10 Mar 2022 Form 4 Insider Report for Veris Residential, Inc. (VRE)

Role
General Counsel & Secretary
Signature
/s/ Gary T. Wagner
Issuer symbol
VRE
Transactions as of
10 Mar 2022
Net transactions value
$0
Form type
4
Filing time
14 Mar 2022, 16:46:15 UTC
Previous filing
11 Jun 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VRE Time Vesting Restricted Stock Units Award $0 +14,092 +50% $0.000000 42,337 10 Mar 2022 Direct F1, F2

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 VRE Performance Vesting Restricted Stock Units Award $0 +15,237 $0.000000 15,237 10 Mar 2022 Common Stock, $0.01 par value 15,237 $0.000000 Direct F3, F4
transaction VRE Outperformance Vesting Restricted Stock Units Award $0 +14,092 $0.000000 14,092 10 Mar 2022 Common Stock, $0.01 par value 14,092 $0.000000 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 10, 2022, the reporting person was granted time vesting restricted stock units (each, a "TVRSU"). Each TVRSU represents a contingent right to receive one share of common stock, $0.01 par value (the "Common Stock"), of Veris Residential, Inc. (the "Company").
F2 The TVRSUs vest in three equal annual installments beginning March 10, 2023.
F3 On March 10, 2022, the reporting person was granted performance vesting restricted stock units (each, a "PVRSU"). Each PVRSU represents represents a contingent right to receive one share of Common Stock.
F4 Seventy-five percent (75%) of the PVRSUs may vest over a three year period based on the attainment of absolute total stockholder return ("TSR") metrics by the Company over a three year performance period. The remaining twenty-five percent (25%) of the PVRSUs may vest over a three year period based on the Company's TSR relative to the TSR of a select group of twenty-three (23) peer REITs over the same three year performance period. PVRSUs may vest between 0% and 160% of the "target" performance level (the number of shares listed herein).
F5 On March 10, 2022, the Company granted the reporting person outperformance vesting restricted stock units (each, a "OPVRSU"). Each OPVRSU represents represents a contingent right to receive one share of Common Stock.
F6 The OPVRSUs may vest on March 9, 2025 from 0% to 100% based on the attainment of certain levels of adjusted funds from operations per share for the Company's fiscal year ending December 31, 2024.