Mahbod Nia - 17 Mar 2023 Form 4 Insider Report for Veris Residential, Inc. (VRE)

Role
CHIEF EXECUTIVE OFFICER, Director
Signature
/s/ Mahbod Nia
Issuer symbol
VRE
Transactions as of
17 Mar 2023
Net transactions value
$0
Form type
4
Filing time
20 Mar 2023, 20:42:39 UTC
Previous filing
12 Oct 2022
Next filing
03 Oct 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 +139,567 +72% $0.000000 334,258 17 Mar 2023 Direct F1, F2
holding VRE Common Stock, $0.01 par value 113,689 17 Mar 2023 By family limited liability company

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 +142,755 $0.000000 142,755 17 Mar 2023 Common Stock, $0.01 par value 142,755 $0.000000 Direct F3, F4
transaction VRE Outperformance Vesting Restricted Stock Units Award $0 +139,567 $0.000000 139,567 17 Mar 2023 Common Stock, $0.01 par value 139,567 $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 March 17, 2023, 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 March 17, 2024.
F3 On March 17, 2023, 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 Fifty percent (50%) 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 fifty percent (50%) 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 March 17, 2023, 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 March 16, 2026 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, 2025.