Michael Joseph Cronin - Mar 31, 2022 Form 4/A - Amendment Insider Report for PREFERRED APARTMENT COMMUNITIES INC (APTS)

Signature
/s/ Jeffrey R. Sprain, Attorney-in-Fact
Stock symbol
APTS
Transactions as of
Mar 31, 2022
Transactions value $
$0
Form type
4/A - Amendment
Date filed
4/28/2022, 11:18 AM
Date Of Original Report
Apr 4, 2022
Previous filing
Mar 17, 2022
Next filing
Apr 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding APTS Common Stock, par value $0.01 per share 111K Mar 31, 2022 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 APTS Class A Units Award +9.77K 9.77K Mar 31, 2022 Common Stock 9.77K $0.00 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents Class A Units ("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. Class A Units have no expiration date.
F2 On January 2, 2018, the reporting person was awarded a maximum of 9,772 Class B Units of the Operating Partnership ("2018 Class B Units") issued in lieu of any reimbursement for annual cash compensation for 2018, 2019 and 2020, subject to certain performance and time-based conditions. As of March 31, 2022, all performance and time based conditions were met for the 2018 Class B Units. When earned and vested, each Class B Unit is converted into a Class A Unit. As of April 1, 2022, the Compensation Committee of the Board of Directors of the Company determined that the extent to which the performance conditions had been achieved during the performance period resulted in 100% of the 2018 Class B Units becoming earned 2018 Class B Units.