Jeffrey David Sherman - 24 Aug 2021 Form 4 Insider Report for PREFERRED APARTMENT COMMUNITIES INC

Role: President - Multifamily
Signature: /s/ Jeffrey R. Sprain, attorney-in-fact
Issuer symbol: N/A
Transactions as of: 24 Aug 2021
Net transactions value: -$20,562
Form type: 4
Filing time: 26 Aug 2021, 19:51:31 UTC
Previous filing: 21 Jun 2021
Next filing: 14 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	APTS	Common Stock, par value $0.01 per share	Sale	$20,562	-1,750	-5.8%	$11.75	28,428	24 Aug 2021	Direct

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	APTS	Class A Units						3,405	24 Aug 2021	Common Stock	3,405		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents Class A Units ("Class A Units") of Preferred Apartment Communities Operating Partnership, L.P., of which Preferred Apartment Communities, Inc. (the "Company") is the general partner. Each Class A Unit may be exchanged for one share of the Company's common stock, or cash, as selected by the Company. Class A Units have no expiration date.