Chad Christensen - Jan 6, 2023 Form 4 Insider Report for Cottonwood Communities, Inc. (N/A)

Role
Executive Chairman of the Board of Directors, Director
Signature
/s/ Adam Larson, attorney-in-fact
Stock symbol
N/A
Transactions as of
Jan 6, 2023
Transactions value $
$0
Form type
4
Date filed
1/10/2023, 03:52 PM
Previous filing
Sep 29, 2022
Next filing
Jan 11, 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 N/A LTIP Units Award +20K +7.97% 271K Jan 6, 2023 Class I Common Stock, par value $0.01 per share 20K Direct F1, F2, F3
holding N/A LTIP Units 437K Jan 6, 2023 Class I Common Stock, par value $0.01 per share 437K By Christensen Utah 2020 Trust F2, F4, F5
* 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 6, 2023 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, 2024, 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 ("CROP Units") for all purposes. If such parity is reached, non-forfeitable LTIP Units automatically convert into CROP Units. CROP Units may be redeemed for cash equal to the net asset value ("NAV") per share, determined pursuant to valuation procedures adopted by the Issuer's board of directors, 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 the aggregate number of LTIP Units currently held directly by the reporting person, and includes LTIP Units which automatically converted to CROP Units. See footnote 2 discussing the conversion of the LTIP Units.
F4 Represents LTIP Units granted to the reporting person as equity incentive compensation. The LTIP Units vested on May 7, 2021.
F5 Reflects the aggregate number of LTIP Units currently held indirectly by the reporting person, and includes LTIP Units which automatically converted to CROP Units. See footnote 2 discussing the conversion of the LTIP Units.

Remarks:

Executive Chairman of the Board of Directors