Shawn J. Tibbetts - Mar 4, 2024 Form 4 Insider Report for Armada Hoffler Properties, Inc. (AHH)

Role
President and COO
Signature
/s/ Matthew T. Barnes Smith, as Attorney-in-Fact for Shawn J. Tibbetts
Stock symbol
AHH
Transactions as of
Mar 4, 2024
Transactions value $
-$77,532
Form type
4
Date filed
3/25/2024, 05:31 PM
Previous filing
Mar 7, 2023
Next filing
Mar 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AHH Common Stock Tax liability -$77.5K -7.46K -9.92% $10.40 67.7K Mar 4, 2024 Direct F1

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
holding AHH LTIP Units 68.9K Mar 4, 2024 Common Stock 68.9K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects shares of common stock surrendered to Armada Hoffler Properties, Inc. (the "Company") to satisfy tax withholding obligations in connection with the vesting of restricted shares of common stock.
F2 Represents LTIP Units ("LTIP Units") in Armada Hoffler, L.P. (the "Partnership"), the operating partnership of the Company. Under the limited partnership agreement of the Partnership (the "OP Agreement") and subject to conditions set forth in the OP Agreement, upon vesting of LTIP Units, LTIP Units are convertible into Class A common units of limited partnership interest ("Common Units") in the Partnership at the holder's option. Under the LTIP Unit award agreement, except in connection with a Change of Control (as defined in the OP Agreement), the LTIP Units may not be converted to Common Units until two years following the date of grant. Each Common Unit is redeemable for cash equal to the then-current market value of one share of the Company's common stock or, at the election of the Company, one share of the Company's common stock. Neither LTIP Units nor Common Units have an expiration date.
F3 The number of LTIP Units beneficially owned by the Reporting Person has been adjusted down by one LTIP Unit to correct for a rounding error in the previously reported total.