Taryn D. Fielder - Jan 24, 2023 Form 4 Insider Report for Veris Residential, Inc. (VRE)

Role
EVP, GENERAL COUNSEL & SEC.
Signature
/s/ Taryn D. Fielder
Stock symbol
VRE
Transactions as of
Jan 24, 2023
Transactions value $
-$77,870
Form type
4
Date filed
3/20/2023, 08:47 PM
Previous filing
May 3, 2022
Next filing
May 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction VRE Common Stock, $0.01 par value Tax liability -$77.9K -4.88K -11.63% $15.94 37.1K Jan 24, 2023 Direct F1
transaction VRE Time Vesting Restricted Stock Units Award $0 +26.2K +70.54% $0.00 63.3K Mar 17, 2023 Direct F2, F3

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 +26.8K $0.00 26.8K Mar 17, 2023 Common Stock, $0.01 par value 26.8K $0.00 Direct F4, F5
transaction VRE Outperformance Vesting Restricted Stock Units Award $0 +26.2K $0.00 26.2K Mar 17, 2023 Common Stock, $0.01 par value 26.2K $0.00 Direct F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Forfeiture of shares for net share settlement of taxes on shares issued upon vesting of time vesting restricted stock units.
F2 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").
F3 The TVRSUs vest in three equal annual installments beginning March 17, 2024.
F4 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.
F5 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).
F6 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.
F7 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.