0000899243-23-007522.txt : 20230308
0000899243-23-007522.hdr.sgml : 20230308
20230308160542
ACCESSION NUMBER: 0000899243-23-007522
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230306
FILED AS OF DATE: 20230308
DATE AS OF CHANGE: 20230308
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Ioannou Andrew M.
CENTRAL INDEX KEY: 0001637110
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-06300
FILM NUMBER: 23716150
MAIL ADDRESS:
STREET 1: C/O PENN REAL ESTATE INVESTMENT TRUST
STREET 2: THE BELLEVUE, 200 SOUTH BROAD STREET
CITY: PHILADELPHIA
STATE: PA
ZIP: 19102
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
CENTRAL INDEX KEY: 0000077281
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
IRS NUMBER: 236216339
STATE OF INCORPORATION: PA
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: ONE COMMERCE SQUARE
STREET 2: 2005 MARKET STREET, SUITE 1000
CITY: PHILADELPHIA
STATE: PA
ZIP: 19103
BUSINESS PHONE: 2158750426
MAIL ADDRESS:
STREET 1: ONE COMMERCE SQUARE
STREET 2: 2005 MARKET STREET, SUITE 1000
CITY: PHILADELPHIA
STATE: PA
ZIP: 19103
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2023-03-06
0
0000077281
PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
PRET
0001637110
Ioannou Andrew M.
C/O PENN. REAL ESTATE INVESTMENT TRUST
2005 MARKET STREET, SUITE 1000
PHILADELPHIA
PA
19103
0
1
0
0
EVP - Finance and Acquisitions
Shares of Beneficial Interest, par value $1.00 per share
2023-03-06
4
M
0
5472
A
11850
D
Shares of Beneficial Interest, par value $1.00 per share
2023-03-06
4
D
0
5472
1.3088
D
6378
D
Restricted Share Units
2023-03-06
4
M
0
5472
D
Shares of Beneficial Interest
5472
10942
D
Consists of restricted share units ("RSUs") granted on March 4, 2022 pursuant to the issuer's 2022-2024 Equity Award Program (the "2022-2024 Program"). Each RSU represents a contingent right to receive one share of Beneficial Interest, par value $1.00 per share (a "Share"), of the issuer. The RSUs may be settled in Shares or cash in the discretion of the issuer's Compensation Committee. The Compensation Committee determined to settle the RSUs that vested on March 4, 2023 for cash. Because March 4, 2023 was a Saturday, the cash settlement amount was determined based on the March 3, 2023 and March 6, 2023 Share price. For purposes of this Form 4, the cash settlement of the vested RSUs has been presented as the conversion of the vested RSUs into Shares and the simultaneous disposition of Shares to the issuer for cash.
The 2022-2024 Program RSU grant consisted of 16,414 RSUs (this reflects the adjusted RSU total following the reverse share split, effective as of June 16, 2022) granted on March 4, 2022, with the RSUs vesting in three equal annual installments beginning on March 4, 2023.
Represents the average of the highest and lowest selling price of a Share on March 3, 2023 and March 6, 2023.
/s/ Andrew M. Ioannou
2023-03-08