MICHAEL JOSEPH CRONIN - 13 Apr 2022 Form 4 Insider Report for PREFERRED APARTMENT COMMUNITIES INC

Role: EVP, CAO AND TREASURER
Signature: /s/ Jeffrey R Sprain, Attorney-in-Fact
Issuer symbol: N/A
Transactions as of: 13 Apr 2022
Net transactions value: $0
Form type: 4
Filing time: 15 Apr 2022, 13:58:55 UTC
Previous filing: 28 Apr 2022
Next filing: 23 Jun 2022
SEC: View on sec.gov

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	Conversion of derivative security		+9,772	+8.8%		121,080	13 Apr 2022	Direct	F1

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	APTS	Class A Units	Conversion of derivative security		-9,772	-100%		0	13 Apr 2022	Common Stock	9,772	$0.000000	Direct	F1

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

Explanation of Responses:

Id	Content
F1	The reporting person redeemed 9,772 Class A Units of Preferred Apartment Communities Operating Partnership, L.P., of which Preferred Apartment Communities Inc. (the "Company") is the general partner. Each Class A Unit may be exchanged for one share of the Company's common stock, or cash, as selected by the Company. The Company elected to redeem the reporting person's Class A Units with common stock. Class A Units have no expiration date.

Content

The reporting person redeemed 9,772 Class A Units of Preferred Apartment Communities Operating Partnership, L.P., of which Preferred Apartment Communities Inc. (the "Company") is the general partner. Each Class A Unit may be exchanged for one share of the Company's common stock, or cash, as selected by the Company. The Company elected to redeem the reporting person's Class A Units with common stock. Class A Units have no expiration date.