Andrew M. Sims - 18 Aug 2023 Form 4 Insider Report for Sotherly Hotels Inc. (SOHO)

Role
Chairman, Director
Signature
/s/ Andrew M. Sims
Issuer symbol
SOHO
Transactions as of
18 Aug 2023
Net transactions value
$0
Form type
4
Filing time
18 Aug 2023, 14:41:52 UTC
Previous filing
28 Apr 2023
Next filing
20 Sep 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SOHO Common Stock Conversion of derivative security +252,903 +337% 327,903 18 Aug 2023 By Jeanette I. Sims Revocable Trust F1
holding SOHO Common Stock 504,302 18 Aug 2023 Direct
holding SOHO Common Stock 793,937 18 Aug 2023 By AMS Family Partnership, R.L.L.P.
holding SOHO Common Stock 156,250 18 Aug 2023 By spouse
holding SOHO Common Stock 50,070 18 Aug 2023 By ESOP F2
holding SOHO 8.0% Series B Preferred Stock 1,500 18 Aug 2023 Direct F3
holding SOHO 7.875% Series C Preferred Stock 1,500 18 Aug 2023 Direct F4
holding SOHO 8.25% Series D Preferred Stock 1,500 18 Aug 2023 Direct F5

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 SOHO Operating Partnership Units Conversion of derivative security $0 -252,903 -100% $0.000000* 0 18 Aug 2023 Common Stock 252,903 By Jeanette I. Sims Revocable Trust F1, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person redeemed 252,903 units of limited partnership interest ("Units") of Sotherly Hotels LP, of which the issuer is the general partner. Units are redeemable for an equal number of shares of the issuer's Common Stock or, at the election of the issuer, cash equal to the fair market value of such shares. The issuer elected to redeem the reporting person's Units with Common Stock.
F2 Reflects allocations under the issuer's Employee Stock Ownership Plan.
F3 The full security title is 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock.
F4 The full security title is 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock.
F5 The full security title is 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock.
F6 Operating Partnership Units in Sotherly Hotels LP, Sotherly Hotels Inc.'s operating partnership.
F7 There is no expiration to the redemption right.