Taryn D. Fielder - 29 Apr 2022 Form 4 Insider Report for Veris Residential, Inc. (VRE)

Role
EVP, GENERAL COUNSEL & SEC.
Signature
/s/ Taryn D. Fielder
Issuer symbol
VRE
Transactions as of
29 Apr 2022
Net transactions value
$0
Form type
4
Filing time
03 May 2022, 16:02:13 UTC
Previous filing
18 Apr 2022
Next filing
20 Mar 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VRE Time Vesting Restricted Stock Units Award $0 +17,489 +71% $0.000000 41,984 29 Apr 2022 Direct F1, F2

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 VRE Performance Vesting Restricted Stock Units Award $0 +20,418 $0.000000 20,418 29 Apr 2022 Common Stock, $0.01 par value 20,418 $0.000000 Direct F3, F4
transaction VRE Outperformance Vesting Restricted Stock Units Award $0 +17,489 $0.000000 17,489 29 Apr 2022 Common Stock, $0.01 par value 17,489 $0.000000 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On April 29, 2022, the reporting person was granted time vesting restricted stock units (each, a "TVRSU"). Each TVRSU represents a contingent right to receive one share of common stock, $0.01 par value (the "Common Stock"), of Veris Residential, Inc. (the "Company").
F2 The TVRSUs vest in three equal annual installments beginning April 29, 2023.
F3 On April 29, 2022, the reporting person was granted performance vesting restricted stock units (each, a "PVRSU"). Each PVRSU represents represents a contingent right to receive one share of Common Stock.
F4 Seventy-five percent (75%) of the PVRSUs may vest over a three year period based on the attainment of absolute total stockholder return ("TSR") metrics by the Company over a three year performance period. The remaining twenty-five percent (25%) of the PVRSUs may vest over a three year period based on the Company's TSR relative to the TSR of a select group of twenty-three (23) peer REITs over the same three year performance period. PVRSUs may vest between 0% and 160% of the "target" performance level (the number of shares listed herein).
F5 On April 29, 2022, the Company granted the reporting person outperformance vesting restricted stock units (each, a "OPVRSU"). Each OPVRSU represents represents a contingent right to receive one share of Common Stock.
F6 The OPVRSUs may vest on April 29, 2025 from 0% to 100% based on the attainment of certain levels of adjusted funds from operations per share for the Company's fiscal year ending December 31, 2024.