Quick Takeaways
- This page summarizes Thomas K. McGowan's Form 4 filing for KITE REALTY GROUP TRUST (KRG).
- 2 reported transactions and 3 derivative rows are listed below.
- Filing timestamp: 02 Jan 2024, 16:41.
Thomas K. McGowan - 29 Dec 2023 Form 4 Insider Report for KITE REALTY GROUP TRUST (KRG)
- Role
- President & COO
- Signature
- /s/ Thomas K. McGowan
- Issuer symbol
- KRG
- Transactions as of
- 29 Dec 2023
- Net transactions value
- $0
- Form type
- 4
- Filing time
- 02 Jan 2024, 16:41:29 UTC
- Previous filing
- 04 Aug 2023
- Next filing
- 21 Feb 2024
- SEC
- View on sec.gov
Quoteable Key Fact
"Thomas K. McGowan filed Form 4 for KITE REALTY GROUP TRUST (KRG) on 02 Jan 2024."
What Changed
- Previous filing in this sequence was filed on 04 Aug 2023.
- Current net transaction value: $0.
Why This Matters
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Official SEC Source
Transactions Table
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| holding | KRG | Common Shares | 106,028 | 29 Dec 2023 | Direct |
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 | KRG | Limited Partnership Units - Kite Realty Group, LP (AO LTIPs) | Options Exercise | -405,405 | -100% | 0 | 29 Dec 2023 | Limited Partnership Units of Kite Realty Group, L.P. | 405,405 | $17.76 | Direct | F1, F2 | ||
| transaction | KRG | Limited Partnership Units of Kite Realty Group, L.P. | Options Exercise | $0 | +92,402 | +16% | $0.000000 | 668,374 | 29 Dec 2023 | Common Shares | 92,402 | Direct | F3 | |
| holding | KRG | Limited Partnership Units of Kite Realty Group, L.P. | 5,000 | 29 Dec 2023 | Common Shares | 5,000 | By irrevocable trust | F3 |
* An asterisk sign (*) next to the price indicates that the price is likely invalid.
Explanation of Responses:
| Id | Content |
|---|---|
| F1 | The reporting person previously received a grant of limited partnership units in Kite Realty Group, L.P. designated as Class AO LTIP Units ("AO LTIPs"), purusant to the Kite Realty Group Trust 2013 Equity Incentive Plan, as amended and restated as of February 28, 2019. AO LTIPs are similar to "net exercise" stock option awards and are convertible, once vested, into a number of vested limited partnership units of Kite Realty Group, L.P. designated as LTIP Units ("LTIPs"), determined by the quotient of (i) the excess of the value of a common shares of beneficial interest, par value of $.01 per share ("Common Share") of Kite Realty Group Trust as of the date of the conversion over $17.76 (the "Participation Threshold per AO LTIP"), divided by (ii) the value of a Common Share as of the date of conversion. Vested LTIPs into which AO LTIPs have been converted are further convertible, [footnote continued] |
| F2 | [Continued from footnote] conditioned upon minimum allocations to the capital accounts of the LTIPs for U.S. federal income tax purposes, into an equal number of limited partnership units in Kite Realty Group L.P. ("LP Units"). The resulting LP Units are redeemable by the holder for one Common Share per LP Unit or the cash value of a Common Share, at the Issuer's option. The AO LTIPs will vest and become exercisable as of the date that both of the following requirements have been met: (i) the grantee remains in continuous service from the grant date through the third anniversary of the grant date; and (ii) at any time during the period between the second year and the fifth year following the grant date, the reported closing price per Common Share appreciates at least 15% over the applicable Participation Threshold per AO LTIP (as set forth in the table above) for a minimum of 20 consecutive trading days. Under the award agreement, the AO LTIPs have a six-year term from the grant date. |
| F3 | Common Shares of beneficial interest, par value of $.01 per share (the "Common Shares") are issued upon the redemption of Limited Partnership units ("LP Units") of Kite Realty Group L.P. on a one for one basis. LP Units have no expiration date, and they are currently redeemable for Common Shares or cash at the election of Kite Realty Group Trust. |