Peter R.c. Brindley - 19 Dec 2025 Form 4 Insider Report for Paramount Group, Inc. (PGRE)

Signature
/s/ Timothy Dembo as attorney-in-fact for Peter Brindley
Issuer symbol
PGRE
Transactions as of
19 Dec 2025
Net transactions value
-$11,556,686
Form type
4
Filing time
22 Dec 2025, 20:43:14 UTC
Previous filing
11 Feb 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Brindley Peter R.C. EVP, Head of Real Estate C/O PARAMOUNT GROUP, INC., 1633 BROADWAY, NEW YORK /s/ Timothy Dembo as attorney-in-fact for Peter Brindley 22 Dec 2025 0001726012

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 PGRE LTIP Units Disposed to Issuer $826,518 -125,230 -100% $6.60 0 19 Dec 2025 Common Stock 125,230 Direct F1, F2, F3
transaction PGRE LTIP Units Options Exercise $0 -180,941 -100% $0.000000 0 19 Dec 2025 Common Stock 180,941 Direct F1, F4
transaction PGRE LTIP Units Options Exercise $0 -27,607 -100% $0.000000 0 19 Dec 2025 Common Stock 27,607 Direct F1, F5
transaction PGRE LTIP Units Options Exercise $0 -70,299 -100% $0.000000 0 19 Dec 2025 Common Stock 70,299 Direct F1, F6
transaction PGRE LTIP Units Options Exercise $0 -30,713 -100% $0.000000 0 19 Dec 2025 Common Stock 30,713 Direct F1, F7
transaction PGRE LTIP Units Options Exercise $0 -27,017 -100% $0.000000 0 19 Dec 2025 Common Stock 27,017 Direct F1, F8
transaction PGRE LTIP Units Options Exercise $0 -377,359 -100% $0.000000 0 19 Dec 2025 Common Stock 377,359 Direct F1, F9
transaction PGRE AOLTIP Units Options Exercise -219,020 -100% 0 19 Dec 2025 Common Stock 219,020 $6.17 Direct F10
transaction PGRE Performance-Based AOLTIP Units Options Exercise -1,081,315 -100% 0 19 Dec 2025 Common Stock 1,081,315 $5.12 Direct F11
transaction PGRE Common OP Units Award $0 +154,634 +31% $0.000000 655,101 19 Dec 2025 Common Stock 154,634 Direct F12, F13, F14
transaction PGRE Common OP Units Options Exercise +970,682 +148% 1,625,783 19 Dec 2025 Common Stock 970,682 Direct F12, F15
transaction PGRE Common OP Units Disposed to Issuer $10,730,168 -1,625,783 $6.60 $0 19 Dec 2025 Common Stock 1,625,783 Direct F12, F16
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Peter R.c. Brindley is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Pursuant to the Second Amended and Restated Agreement of Limited Partnership of Paramount Group Operating Partnership LP, a Delaware limited partnership and a subsidiary of the Issuer (the "Operating Partnership"), dated as of October 26, 2020 (the "Partnership Agreement"), each LTIP Unit converts automatically into one OP Unit (defined below) on the later to occur of (i) vesting and (ii) the date on which the Book-Up Target (as defined in the Partnership Agreement) for such LTIP Unit becomes zero.
F2 Pursuant to the Agreement and Plan of Merger, dated as of September 17, 2025 (as amended on October 8, 2025, and as may be amended from time to time, the "Merger Agreement"), by and among the Issuer, the Operating Partnership, Rithm Capital Corp., a Delaware corporation ("Parent"), Panorama REIT Merger Sub, Inc., a Maryland corporation and a wholly owned subsidiary of Parent, and Panorama Operating Merger Sub LP, a Delaware limited partnership and a wholly owned subsidiary of Parent, at the Partnership Merger Effective Time (as defined in the Merger Agreement), these securities, comprised of 31,566 LTIP Units granted on January 13, 2022, 46,621 LTIP Units granted on January 13, 2022 and 47,043 LTIP Units earned on January 25, 2023 upon the achievement of performance hurdles, in each case whose Book-Up Target was not zero (after giving effect to the Partnership Merger (as defined in the Merger Agreement)),
F3 (Continued from footnote 2) were cancelled and converted into the right to receive an amount in cash equal to the Company Merger Consideration (as defined in the Merger Agreement) of $6.60 per share.
F4 At the Partnership Merger Effective Time, these securities, comprised of LTIP Units granted on February 4, 2021 that had vested or were subject to time vesting conditions and became fully vested pursuant to the applicable award agreement and whose Book-Up Target was zero after giving effect to the Partnership Merger, automatically converted into an equivalent number of OP Units in accordance with the Partnership Agreement.
F5 At the Partnership Merger Effective Time, these securities, comprised of LTIP Units granted on January 25, 2023 that had vested or were subject to time vesting conditions and became fully vested pursuant to the applicable award agreement and whose Book-Up Target was zero after giving effect to the Partnership Merger, automatically converted into an equivalent number of OP Units in accordance with the Partnership Agreement.
F6 At the Partnership Merger Effective Time, these securities, comprised of LTIP Units granted on January 25, 2023 that had vested or were subject to time vesting conditions and became fully vested pursuant to the applicable award agreement and whose Book-Up Target was zero after giving effect to the Partnership Merger, automatically converted into an equivalent number of OP Units in accordance with the Partnership Agreement.
F7 At the Partnership Merger Effective Time, these securities, comprised of LTIP Units granted on February 29, 2024 that had vested or were subject to time vesting conditions and became fully vested pursuant to the applicable award agreement and whose Book-Up Target was zero after giving effect to the Partnership Merger, automatically converted into an equivalent number of OP Units in accordance with the Partnership Agreement.
F8 At the Partnership Merger Effective Time, these securities, comprised of LTIP Units earned on February 7, 2025 upon the achievement of performance hurdles that were subject to time vesting conditions and became fully vested pursuant to the applicable award agreement and whose Book-Up Target was zero after giving effect to the Partnership Merger, automatically converted into an equivalent number of OP Units in accordance with the Partnership Agreement.
F9 Pursuant to the Merger Agreement, at the Partnership Merger Effective Time, these securities, comprised of LTIP Units granted on September 8, 2023 that were subject to time-vesting and additional holding conditions, became fully vested, all restrictions lapsed, and such securities converted into an equivalent number of OP Units in accordance with the Partnership Agreement.
F10 At the Partnership Merger Effective Time, each of these securities, comprised of AOLTIP Units granted on January 25, 2023 that had vested or were subject to time vesting conditions and became fully vested pursuant to the applicable award agreement converted into OP Units in accordance with the Partnership Agreement based on the increase in the value of the Company Merger Consideration of $6.60 over such unit's exercise price.
F11 Pursuant to the Merger Agreement, these securities, comprised of AOLTIP Units granted on September 8, 2023 that were subject to performance-vesting conditions, became fully vested (with all performance goals deemed satisfied at the maximum level of performance) at the Partnership Merger Effective Time. Each such vested AOLTIP Unit converted into OP Units in accordance with the Partnership Agreement based on the increase in value of the Company Merger Consideration of $6.60 over such unit's exercise price.
F12 Represents common units of limited partnership interest ("OP Units") in the Operating Partnership. Each OP Unit could be presented, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer could, at its election, acquire each OP Unit so presented for one share of common stock. OP Units are not subject to vesting. These redemption rights did not have an expiration date.
F13 At the Partnership Merger Effective Time, LTIP Units that were granted on January 25, 2023 and subject to performance-vesting conditions vested to the extent provided in the applicable award agreement, and such vested LTIP Units automatically converted into an equivalent number of OP Units in accordance with the Partnership Agreement.
F14 Includes 45,714 LTIP Units granted on November 24, 2014, 22,642 LTIP Units granted on March 18, 2016, 21,416 LTIP Units granted on January 30, 2017, 7,828 LTIP Units granted on January 30, 2017, 31,008 LTIP Units granted on February 5, 2018, 19,418 LTIP Units granted on January 14, 2019, 44,046 LTIP Units granted on January 14, 2019, 53,476 LTIP Units granted on January 17, 2020, 21,803 LTIP Units granted on January 20, 2020 and 43,970 LTIP Units granted on January 11, 2021, as well as 12,713 LTIP Units that were earned January 17, 2020, 44,058 LTIP Units that were earned on January 30, 2024 and 27,017 vested LTIP Units that were earned on February 7, 2025, in each case upon the achievement of performance hurdles, that were previously automatically converted into OP Units but the conversion of which was not reported on a Form 4.
F15 Represents the acquisition of OP Units from the conversion of LTIP Units and AOLTIP Units at the Partnership Merger Effective Time as discussed in Footnotes 4-11.
F16 Pursuant to the Merger Agreement, at the Partnership Merger Effective Time, each outstanding OP Unit was cancelled and exchanged for the Partnership Merger Consideration of $6.60 per unit.