Gary T. Wagner - 10 Mar 2022 Form 4 Insider Report for Veris Residential, Inc. (VRE)

Reporting relationship: General Counsel & Secretary
Issuer ticker: VRE
Reported as of: 10 Mar 2022
Net transaction value: $0
SEC form: 4
Accepted by SEC: 14 Mar 2022, 16:46:15 UTC
Prior SEC filing: 11 Jun 2021
Source filing: View source filing
Reporting owner signature: /s/ Gary T. Wagner

Key filing fact

Gary T. Wagner filed Form 4 for Veris Residential, Inc. (VRE) on 14 Mar 2022.

Key facts

This page summarizes Gary T. Wagner's Form 4 filing for Veris Residential, Inc. (VRE).
3 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 14 Mar 2022, 16:46.

Change

Previous filing in this sequence was filed on 11 Jun 2021.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

VRE transaction

Time Vesting Restricted Stock Units

Award

Transaction value: $0
Shares: +14,092
Change %: +50%
Price: $0.000000
Shares after: 42,337
Date: 10 Mar 2022
Ownership: Direct
Footnotes: F1, F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

VRE transaction Derivative

Performance Vesting Restricted Stock Units

Award

Transaction value: $0
Shares: +15,237
Change %
Price: $0.000000
Shares after: 15,237
Date: 10 Mar 2022
Ownership: Direct
Underlying class: Common Stock, $0.01 par value
Underlying amount: 15,237
Exercise price: $0.000000
Footnotes: F3, F4

VRE transaction Derivative

Outperformance Vesting Restricted Stock Units

Award

Transaction value: $0
Shares: +14,092
Change %
Price: $0.000000
Shares after: 14,092
Date: 10 Mar 2022
Ownership: Direct
Underlying class: Common Stock, $0.01 par value
Underlying amount: 14,092
Exercise price: $0.000000
Footnotes: F5, F6

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 6 footnotes

Footnote F1

On March 10, 2022, 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").

Footnote F2

The TVRSUs vest in three equal annual installments beginning March 10, 2023.

Footnote F3

On March 10, 2022, 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.

Footnote F4

Seventy-five percent (75%) 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 twenty-five percent (25%) 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).

Footnote F5

On March 10, 2022, 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.

Footnote F6

The OPVRSUs may vest on March 9, 2025 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, 2024.