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