Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
transaction | VRE | Time Vesting Restricted Stock Units | Award | $0 | +20.9K | +104.07% | $0.00 | 41.1K | Mar 17, 2023 | Direct | F1, F2 |
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 | +21.4K | $0.00 | 21.4K | Mar 17, 2023 | Common Stock, $0.01 par value | 21.4K | $0.00 | Direct | F3, F4 | |
transaction | VRE | Outperformance Vesting Restricted Stock Units | Award | $0 | +20.9K | $0.00 | 20.9K | Mar 17, 2023 | Common Stock, $0.01 par value | 20.9K | $0.00 | Direct | F5, F6 |
Id | Content |
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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. |