0001638599-17-000040.txt : 20170105 0001638599-17-000040.hdr.sgml : 20170105 20170105121945 ACCESSION NUMBER: 0001638599-17-000040 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20170103 FILED AS OF DATE: 20170105 DATE AS OF CHANGE: 20170105 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 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: CRONIN MICHAEL JOSEPH CENTRAL INDEX KEY: 0001506195 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34995 FILM NUMBER: 17509650 MAIL ADDRESS: STREET 1: 3625 CUMBERLAND BOULDEVARD STREET 2: SUITE 400 CITY: ATLANTA STATE: GA ZIP: 30339 4 1 doc4_4447.xml PRIMARY DOCUMENT X0306 4 2017-01-03 0 0001481832 PREFERRED APARTMENT COMMUNITIES INC APTS 0001506195 CRONIN MICHAEL JOSEPH PREFERRED APARTMENT COMMUNITIES, INC. 3284 NORTHSIDE PARKWAY NW, SUITE 150 ATLANTA GA 30327 0 1 0 0 See Remarks Common Stock, par value $0.01 2500 D Class A Units 2017-01-03 4 A 0 4995 0 A Common Stock 4995 76955 D Represents Class A Units ("Class A Unit") of Preferred Apartment Communities Operating Partnership, L.P. (the "Operating Partnership"), of which Preferred Apartment Communities, Inc. (the "Company") is the general partner. On January 4, 2016, the reporting person was awarded a maximum of 14,986 Class B Units of the Operating Partnership ("Class B Units") issued in lieu of any reimbursement for annual cash compensation for 2016, 2017 and 2018, subject to certain performance conditions. When earned and vested, each Class B Unit is converted into a Class A Unit. 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 do not expire. As of January 3, 2017, the Compensation Committee of the Board of Directors of the Company determined that the extent to which the performance measures had been achieved during the performance period resulted in 100%, or 14,986 of the Class B Units becoming earned Class B Units. One-third of the earned Class B Units, or 4,995 Class B Units, fully vested on January 3, 2017 and were converted into Class A Units on that date. The remaining 9,991 unvested Class B Units will vest approximately equally on January 2, 2018 and January 2, 2019 and will convert to Class A Units on those dates. Executive Vice President, Chief Accounting Officer and Treasurer /s/ Jeffrey R. Sprain, as attorney-in-fact 2017-01-05