Michael Joseph Cronin - Apr 13, 2022 Form 4 Insider Report for PREFERRED APARTMENT COMMUNITIES INC (APTS)

Role: EVP, CAO AND TREASURER
Signature: /s/ Jeffrey R Sprain, Attorney-in-Fact
Stock symbol: APTS
Transactions as of: Apr 13, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/15/2022, 01:58 PM
Previous filing: Apr 28, 2022
Next filing: Jun 23, 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	Conversion of derivative security		+9.77K	+8.78%		121K	Apr 13, 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		-9.77K	-100%		0	Apr 13, 2022	Common Stock	9.77K	$0.00	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.