Gregg Christensen - Jan 7, 2022 Form 4 Insider Report for Cottonwood Communities, Inc. (N/A)

Role
Chief Legal Officer
Signature
/s/ Adam Larson, Attorney-in-fact
Stock symbol
N/A
Transactions as of
Jan 7, 2022
Transactions value $
$0
Form type
4
Date filed
1/11/2022, 07:02 PM
Previous filing
Jan 11, 2022
Next filing
Sep 29, 2022

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 N/A LTIP Units Award +7.96K +9.15% 95K Jan 7, 2022 Class I Common Stock, par value $0.01 per share 7.96K Direct F1, F2, F3
holding N/A LTIP Units 210K Jan 7, 2022 Class I Common Stock, par value $0.01 per share 210K By Spring Creek Holdings, LLC F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The long-term incentive plan units ("LTIP Units") of Cottonwood Residential O.P., LP, a Delaware limited partnership ("Operating Partnership"), of which Cottonwood Communities, Inc., a Maryland corporation (the "Issuer"), is the sole member of the sole general partner, were granted to the reporting person on January 7, 2022 as equity incentive compensation. The LTIP Units vest annually in equal installments over a four-year period with the first 25% vesting on January 1, 2023, subject to continued service.
F2 Represents LTIP units granted to the reporting person as equity incentive compensation. Over time, the LTIP Units can achieve full parity with common units of limited partnership of the Operating Partnership ("OP Units") for all purposes. If such parity is reached, non-forfeitable LTIP Units may be converted into OP Units and then may be redeemed for cash equal to the then-current market value of one share of the Issuer's Class I common stock or, at the Issuer's election, for shares of the Issuer's Class I common stock on a one-for-one basis. LTIP Units do not have an expiration date.
F3 Reflects 159,630.501 LTIP Units previously held directly which were transferred to indirect ownership on September 1, 2021, and 50,082.259 LTIP Units previously held directly which were transferred on January 2, 2022 to indirect ownership.
F4 Represents LTIP Units granted to the reporting person as equity incentive compensation. The LTIP Units vested on May 7, 2021.

Remarks:

Chief Legal Officer