0001415889-22-003698.txt : 20220404 0001415889-22-003698.hdr.sgml : 20220404 20220404160149 ACCESSION NUMBER: 0001415889-22-003698 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220331 FILED AS OF DATE: 20220404 DATE AS OF CHANGE: 20220404 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Sherman Jeffrey David CENTRAL INDEX KEY: 0001811549 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34995 FILM NUMBER: 22802012 MAIL ADDRESS: STREET 1: 3284 NORTHSIDE PARKWAY NW STREET 2: SUITE 150 CITY: ATLANTA STATE: GA ZIP: 30327 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: PREFERRED APARTMENT COMMUNITIES INC CENTRAL INDEX KEY: 0001481832 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 271712193 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 3284 NORTHSIDE PARKWAY NW STREET 2: SUITE 150 CITY: ATLANTA STATE: GA ZIP: 30327 BUSINESS PHONE: 770 818 4100 MAIL ADDRESS: STREET 1: 3284 NORTHSIDE PARKWAY NW STREET 2: SUITE 150 CITY: ATLANTA STATE: GA ZIP: 30327 4 1 form4-04042022_010430.xml X0306 4 2022-03-31 0001481832 PREFERRED APARTMENT COMMUNITIES INC APTS 0001811549 Sherman Jeffrey David 3284 NORTHSIDE PARKWAY, NW SUITE 150 ATLANTA GA 30327 false true false false PRESIDENT - MULTIFAMILY Common Stock, par value $0.01 per share 37910 D Class A Units 0 2022-03-31 4 A 0 6108 A Common Stock 3405 9513 D 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. On January 2, 2018, the reporting person was awarded a maximum of 6,108 Class B Units of the Operating Partnership ("2018 Class B Units") issued in lieu of any reimbursement for annual cash compensation for 2018, 2019 and 2020, subject to certain performance and time-based conditions. As of March 31, 2022, all performance and time based conditions were met for the 2018 Class B Units. When earned and vested, each Class B Unit is converted into a Class A Unit. As of April 1, 2022, the Compensation Committee of the Board of Directors of the Company determined that the extent to which the performance conditions had been achieved during the performance period resulted in 100% of the 2018 Class B Units becoming earned 2018 Class B Units. /s/ Jeffrey R. Sprain, Attorney-in-Fact 2022-04-04