Ermelinda Berberi - 19 Dec 2025 Form 4 Insider Report for Paramount Group, Inc. (PGRE)

Reporting relationship: Executive Vice President, Chief Financial Officer and Treasurer
Issuer ticker: PGRE
Reported as of: 19 Dec 2025
Net transaction value: -$2,839,861
SEC form: 4
Accepted by SEC: 22 Dec 2025, 20:41:45 UTC
Prior SEC filing: 11 Feb 2025
Source filing: View source filing
Reporting owner signature: /s/ Timothy Dembo as attorney-in-fact for Ermelinda Berberi

Key filing fact

Ermelinda Berberi filed Form 4 for Paramount Group, Inc. (PGRE) on 22 Dec 2025.

Key facts

This page summarizes Ermelinda Berberi's Form 4 filing for Paramount Group, Inc. (PGRE).
8 reported transactions and 8 derivative rows are listed below.
Accepted by SEC: 22 Dec 2025, 20:41.

Change

Previous filing in this sequence was filed on 11 Feb 2025.
Current net transaction value: -$2,839,861.

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

Reporting Owners (1)

CIK 0001842377 Primary reporting owner

Berberi Ermelinda

Relationship: Executive Vice President, Chief Financial Officer and Treasurer
Address: C/O PARAMOUNT GROUP, INC., 1633 BROADWAY, NEW YORK
Signature: /s/ Timothy Dembo as attorney-in-fact for Ermelinda Berberi
Signature date: 22 Dec 2025

Reported derivative securities

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

PGRE transaction Derivative

LTIP Units

Disposed to Issuer

Transaction value: $101,165
Shares: -15,328
Change %: -100%
Price: $6.60
Shares after: 0
Date: 19 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 15,328
Exercise price
Footnotes: F1, F2, F3

PGRE transaction Derivative

LTIP Units

Options Exercise

Transaction value: $0
Shares: -15,378
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 19 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 15,378
Exercise price
Footnotes: F1, F4

PGRE transaction Derivative

LTIP Units

Options Exercise

Transaction value: $0
Shares: -5,911
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 19 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 5,911
Exercise price
Footnotes: F1, F5

PGRE transaction Derivative

LTIP Units

Options Exercise

Transaction value: $0
Shares: -188,680
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 19 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 188,680
Exercise price
Footnotes: F1, F6

PGRE transaction Derivative

AOLTIP Units

Options Exercise

Transaction value
Shares: -47,911
Change %: -100%
Price
Shares after: 0
Date: 19 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 47,911
Exercise price: $6.17
Footnotes: F7

PGRE transaction Derivative

Common OP Units

Award

Transaction value: $0
Shares: +33,827
Change %: +20%
Price: $0.000000
Shares after: 201,864
Date: 19 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 33,827
Exercise price
Footnotes: F8, F9, F10

PGRE transaction Derivative

Common OP Units

Options Exercise

Transaction value
Shares: +213,090
Change %: +106%
Price
Shares after: 414,954
Date: 19 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 213,090
Exercise price
Footnotes: F8, F11

PGRE transaction Derivative

Common OP Units

Disposed to Issuer

Transaction value: $2,738,696
Shares: -414,954
Change %: -100%
Price: $6.60
Shares after: 0
Date: 19 Dec 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 414,954
Exercise price
Footnotes: F8, F12

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

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Ermelinda Berberi is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 12 footnotes

Footnote F1

Pursuant to the Second Amended and Restated Agreement of Limited Partnership of Paramount Group Operating Partnership LP, a Delaware limited partnership and a subsidiary of the Issuer (the "Operating Partnership"), dated as of October 26, 2020 (the "Partnership Agreement"), each LTIP Unit converts automatically into one OP Unit (defined below) on the later to occur of (i) vesting and (ii) the date on which the Book-Up Target (as defined in the Partnership Agreement) for such LTIP Unit becomes zero.

Footnote F2

Pursuant to the Agreement and Plan of Merger, dated as of September 17, 2025 (as amended on October 8, 2025, and as may be amended from time to time, the "Merger Agreement"), by and among the Issuer, the Operating Partnership, Rithm Capital Corp., a Delaware corporation ("Parent"), Panorama REIT Merger Sub, Inc., a Maryland corporation and a wholly owned subsidiary of Parent, and Panorama Operating Merger Sub LP, a Delaware limited partnership and a wholly owned subsidiary of Parent, at the Partnership Merger Effective Time (as defined in the Merger Agreement), these securities, comprised of 10,199 LTIP Units granted on January 13, 2022 and 5,129 LTIP Units earned on January 25, 2023 upon the achievement of performance hurdles whose Book-Up Target was not zero (after giving effect to the Partnership Merger (as defined in the Merger Agreement)),

Footnote F3

(Continued from footnote 2) were cancelled and converted into the right to receive an amount in cash equal to the Company Merger Consideration (as defined in the Merger Agreement) of $6.60 per share.

Footnote F4

At the Partnership Merger Effective Time, these securities, comprised of LTIP Units granted on January 25, 2023 that had vested or were subject to time vesting conditions and became fully vested pursuant to the applicable award agreement and whose Book-Up Target was zero after giving effect to the Partnership Merger, automatically converted into an equivalent number of OP Units in accordance with the Partnership Agreement.

Footnote F5

At the Partnership Merger Effective Time, these securities, comprised of LTIP Units earned on February 7, 2025 upon the achievement of performance hurdles that were subject to time vesting conditions and became fully vested pursuant to the applicable award agreement and whose Book-Up Target was zero after giving effect to the Partnership Merger, automatically converted into an equivalent number of OP Units in accordance with the Partnership Agreement.

Footnote F6

Pursuant to the Merger Agreement, at the Partnership Merger Effective Time, these securities, comprised of LTIP Units granted on September 8, 2023 that were subject to time-vesting and additional holding conditions, became fully vested, all restrictions lapsed, and such securities converted into an equivalent number of OP Units in accordance with the Partnership Agreement.

Footnote F7

At the Partnership Merger Effective Time, each of these securities, comprised of AOLTIP Units granted on January 25, 2023 that had vested or were subject to time vesting conditions and became fully vested pursuant to the applicable award agreement, converted into OP Units in accordance with the Partnership Agreement based on the increase in the value of the Company's Merger Consideration of $6.60 over such unit's exercise price.

Footnote F8

Represents common units of limited partnership interest ("OP Units") in the Operating Partnership. Each OP Unit could be presented, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer could, at its election, acquire each OP Unit so presented for one share of common stock. OP Units are not subject to vesting. These redemption rights did not have an expiration date.

Footnote F9

At the Partnership Merger Effective Time, LTIP Units that were granted on January 25, 2023 and subject to performance-vesting conditions vested to the extent provided in the applicable award agreement, and such vested LTIP Units automatically converted into an equivalent number of OP Units in accordance with the Partnership Agreement.

Footnote F10

Includes 15,625 LTIP Units granted on April 4, 2016, 5,949 LTIP Units granted on January 30, 2017, 12,333 LTIP Units granted on February 5, 2018, 14,846 LTIP Units granted on January 14, 2019, 5,386 LTIP Units granted on January 14, 2019, 14,706 LTIP Units granted on January 17, 2020, 6,662 LTIP Units granted on January 17, 2020, 48,544 LTIP Units granted on May 19, 2020, 24,184 LTIP Units granted on January 11, 2021 and 5,682 LTIP Units granted on January 11, 2021, as well as 3,532 LTIP Units that were earned on January 17, 2020, 4,678 LTIP Units that were earned on January 30, 2024 and 5,910 LTIP Units that were earned on February 7, 2025, in each case upon the achievement of performance hurdles, that were previously automatically converted into OP Units but the conversion of which was not reported on a Form 4.

Footnote F11

Represents the acquisition of OP Units from the conversion of LTIP Units and AOLTIP Units at the Partnership Merger Effective Time as discussed in Footnotes 4-7.

Footnote F12

Pursuant to the Merger Agreement, at the Partnership Merger Effective Time, each outstanding OP Unit was cancelled and exchanged for the Partnership Merger Consideration of $6.60 per unit.

SEC remarks

Executive Vice President, Chief Financial Officer and Treasurer