0001286043-23-000103.txt : 20230804
0001286043-23-000103.hdr.sgml : 20230804
20230804164155
ACCESSION NUMBER: 0001286043-23-000103
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230802
FILED AS OF DATE: 20230804
DATE AS OF CHANGE: 20230804
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: McGowan Thomas K
CENTRAL INDEX KEY: 0001295832
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32268
FILM NUMBER: 231144595
MAIL ADDRESS:
STREET 1: KITE REALTY GROUP TRUST
STREET 2: 30 S MERIDIAN STREET, SUITE 1100
CITY: INDIANAPOLIS
STATE: IN
ZIP: 46204
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: KITE REALTY GROUP TRUST
CENTRAL INDEX KEY: 0001286043
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
IRS NUMBER: 113715772
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 30 S MERIDIAN STREET
STREET 2: SUITE 1100
CITY: INDIANAPOLIS
STATE: IN
ZIP: 46204
BUSINESS PHONE: 3175775600
MAIL ADDRESS:
STREET 1: 30 S MERIDIAN STREET
STREET 2: SUITE 1100
CITY: INDIANAPOLIS
STATE: IN
ZIP: 46204
4
1
wk-form4_1691181705.xml
FORM 4
X0508
4
2023-08-02
1
0001286043
KITE REALTY GROUP TRUST
KRG
0001295832
McGowan Thomas K
KITE REALTY GROUP TRUST
30 S MERIDIAN STREET, SUITE 1100
INDIANAPOLIS
IN
46204
0
1
0
0
President & COO
0
Common Shares
106028
D
Limited Partnership Units - Kite Realty Group, LP (AO LTIPs)
15.79
2023-08-02
4
M
0
372671
0
D
2022-03-24
2025-03-24
Limited Partnership Units of Kite Realty Group, L.P.
372671
0
D
Limited Partnership Units of Kite Realty Group, L.P.
2023-08-02
4
M
0
118920
0
A
Common Shares
118920
575972
D
Limited Partnership Units of Kite Realty Group, L.P.
Common Shares
5000
5000
I
By irrevocable trust
The reporting person previously received a grant of AO LTIPs, pursuant to the Kite Realty Group Trust 2013 Equity Incentive Plan (as it may be amended and/or restated from time to time). AO LTIPs are similar to "net exercise" stock option awards and are convertible, once vested, into a number of vested limited partnership units of Kite Realty Group L.P. designated as LTIP Units ("LTIPs"), determined by the quotient of (i) the excess of the value of a common share of beneficial interest, par value of $.01 per share ("Common Share") of Kite Realty Group Trust as of the date of conversion over $15.79 (the "Participation Threshold per AO LTIP"), divided by (ii) the value of a Common Share as of the date of conversion. Vested LTIPs into which AO LTIPs have been converted are further convertible, [footnote continued]
[Continued from footnote] conditioned upon minimum allocations to the capital accounts of the LTIPs for U.S. federal income tax purposes, into an equal number of limited partnership units in Kite Realty Group L.P. ("LP Units"). The resulting LP Units are redeemable by the holder for one Common Share per LP Unit or the cash value of a Common Share, at the Issuer's option. The AO LTIPs vest and become exercisable as of the date that both of the following requirements have been met: (i) the grantee remains in continuous service from the grant date through the third anniversary of the grant date; and (ii) at any time during the five-year period following the grant date, the reported closing price per Common Share appreciates at least 20% over the applicable Participation Threshold per AO LTIP. The AO LTIPS vested and became exercisable on March 24, 2022 pursuant to the terms of the award agreement
LP units are redeemable for an equal number of Common Shares or, at the election of Kite, cash equal to the fair market value of such shares. LP Units have no expiration date.
The reporting person's Form 4 filed on February 17, 2023 reflected that 32,433 LP Units, classified as LTIP Units, were granted to the reporting person on February 15, 2023 and would vest in equal amounts on 2/15/2024, 2/15/2025, and 2/15/2026, subject to continued service by the reporting person through the applicable vesting date. The Form 4 should have reflected that those 32,433 were granted on February 14, 2023 and will vest in equal amounts on 2/14/2024, 2/14/2025, and 2/14/2026, subject to continued service by the reporting person through the applicable vesting date.
Common Shares are issued upon the redemption of LP Units on a one for one basis. LP Units have no expiration date.
/s/ Thomas K. McGowan
2023-08-04