Jeffrey David Sherman - Mar 15, 2022 Form 4 Insider Report for PREFERRED APARTMENT COMMUNITIES INC (APTS)

Role: PRESIDENT - MULTIFAMILY
Signature: /s/ Jeffrey R Sprain, Attorney-in-Fact
Stock symbol: APTS
Transactions as of: Mar 15, 2022
Transactions value $: -$33,205
Form type: 4
Date filed: 3/17/2022, 04:15 PM
Previous filing: Jan 14, 2022
Next filing: Apr 28, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APTS	Common Stock, par value $0.01 per share	Tax liability	-$33.2K	-1.33K	-3.38%	$25.06	37.9K	Mar 15, 2022	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On March 15, 2021, the reporting person was issued 12,862 shares of time-based restricted common stock. The time-based restricted common stock vests approximately equally on March 15, 2022, March 15, 2023, March 15, 2024 and March 15, 2025. On March 15, 2022, 3,216 shares vested. The reporting person elected, pursuant to their restricted stock agreement, to satisfy their tax obligation by withholding 1,325 shares having a value approximately equal to the withholding obligation.

Content

On March 15, 2021, the reporting person was issued 12,862 shares of time-based restricted common stock. The time-based restricted common stock vests approximately equally on March 15, 2022, March 15, 2023, March 15, 2024 and March 15, 2025. On March 15, 2022, 3,216 shares vested. The reporting person elected, pursuant to their restricted stock agreement, to satisfy their tax obligation by withholding 1,325 shares having a value approximately equal to the withholding obligation.