Katharina Otto-Bernstein - Jul 31, 2022 Form 4 Insider Report for Paramount Group, Inc. (PGRE)

Role
Director, 10%+ Owner
Signature
/s/ Thomas Finne, KG CURA Vermogensverwaltung, G.m.b.H & Co., by power of attorney, By: Thomas Finne, For: Katharina Otto-Bernstein
Stock symbol
PGRE
Transactions as of
Jul 31, 2022
Transactions value $
$994,626
Form type
4
Date filed
8/2/2022, 05:08 PM
Previous filing
May 16, 2022
Next filing
Sep 22, 2022

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 PGRE Partnership Units Other $235K +29.9K +157.16% $7.85 49K Jul 31, 2022 Common Stock 29.9K By ParkProperty Capital, LP F1, F2
transaction PGRE Partnership Units Other -$385K -49K -100% $7.85 0 Jul 31, 2022 Common Stock 49K By ParkProperty Capital, LP F1, F3
transaction PGRE Partnership Units Other $1.14M +146K +184.08% $7.85 225K Jul 31, 2022 Common Stock 225K Direct F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents common units of limited partnership interest ("OP Units") in Paramount Group Operating Partnership LP (the "Operating Partnership"). Each OP Unit is redeemable for cash equal to the fair market value of one share of common stock of Paramount Group, Inc. (the "Issuer"), except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock of the Issuer. These redemption rights have no expiration date.
F2 On July 31, 2022, ParkProperty Capital, LP (formerly CNBB-RDF Holdings, LP), a limited partnership in which the reporting person has direct and indirect ownership interests ("PPC"), acquired 89,074 OP Units in the Operating Partnership in private transactions from certain individuals, which transactions valued such units at $7.85 per unit, in satisfaction of amounts due under promissory notes previously entered into by such individuals in favor of PPC.
F3 On July 31, 2022, following the transactions described in footnote (2), the reporting person acquired 145,753 OP Units from PPC in a private transaction.
F4 Includes 39,482 OP Units previously acquired by the reporting person upon the automatic conversion of LTIP Units in the Operating Partnership that had been previously granted to the reporting person by the Operating Partnership. Excludes 39,800 LTIP Units in the Operating Partnership currently owned by the reporting person.