0001654413-15-000002.txt : 20151013
0001654413-15-000002.hdr.sgml : 20151012
20151013152138
ACCESSION NUMBER: 0001654413-15-000002
CONFORMED SUBMISSION TYPE: 3
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20151001
FILED AS OF DATE: 20151013
DATE AS OF CHANGE: 20151013
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: ESSEX PROPERTY TRUST INC
CENTRAL INDEX KEY: 0000920522
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
IRS NUMBER: 770369576
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 925 EAST MEADOW DR
CITY: PALO ALTO
STATE: CA
ZIP: 94303
BUSINESS PHONE: 6504943700
MAIL ADDRESS:
STREET 1: 925 EAST MEADOW DRIVE
CITY: PALO ALTO
STATE: CA
ZIP: 94303
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Kleiman Angela L.
CENTRAL INDEX KEY: 0001654413
FILING VALUES:
FORM TYPE: 3
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-13106
FILM NUMBER: 151155980
MAIL ADDRESS:
STREET 1: 925 EAST MEADOW DRIVE
CITY: PALO ALTO
STATE: CA
ZIP: 94303
FORMER NAME:
FORMER CONFORMED NAME: Kleiman Angela Lachie
DATE OF NAME CHANGE: 20150930
3
1
primary_doc.xml
PRIMARY DOCUMENT
X0206
3
2015-10-01
0
0000920522
ESSEX PROPERTY TRUST INC
ESS
0001654413
Kleiman Angela L.
925 EAST MEADOW DRIVE
PALO ALTO
CA
94303
0
1
0
0
Executive Vice President & CFO
Common Stock
3154
D
Stock Option (Right to purchase)
84.87
2019-12-15
Common Stock
2846
D
Stock Option (Right to purchase)
132.03
2021-12-06
Common Stock
900
D
Stock Option (Right to purchase)
143.03
2019-12-11
Common Stock
3000
D
Stock Option (Right to purchase)
152.63
2023-12-10
Common Stock
5000
D
LTIP Units
Common Stock
1875
D
LTIP Units
Common Stock
625
D
LTIP Units
Common Stock
3500
D
Series Z-1 Incentive Units
1
Common Stock
4000
D
100% vested as of December 15, 2014.
Vested 10% on December 6, 2011, and 20% on each annual anniversary thereafter.
Vested 10% on December 11, 2012, and 20% on each annual anniversary thereafter.
Vested 20% on December 10, 2014, and 1/60th of the options vest on each monthly anniversary thereafter.
Represents LTIP Units in Essex Portfolio, L.P.
Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and vesting as described in footnotes 7, 8 and 9 below, each LTIP Unit may be converted, at the election of the holder, into a unit of limited partnership interest in Essex Portfolio, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one share of Common Stock of the Issuer. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The rights to convert LTIP Units into Common Units and to convert Common Units into shares of Common Stock do not have expiration dates.
These LTIP Units were granted on December 9, 2014. 750 of the LTIP Units are scheduled to vest 20% on each of the first five anniversaries of December 9, 2014, subject to continued employment through such dates. 1,125 of the LTIP Units granted are scheduled to vest 20% on each of the first five anniversaries of December 9, 2014, subject to continued employment through such dates and the achievement of certain performance criteria based on the Issuer's total return to shareholders through December 9, 2015. In accordance with applicable Form 4 reporting requirements, the foregoing excludes 1,125 LTIP Units also granted on December 9, 2014 that are scheduled to vest 20% on each of the first five anniversaries of December 9, 2014, subject to continued employment through such dates and the achievement of certain performance criteria based on the Issuer's relative total return to shareholders measured against an industry-specific index through December 9, 2015.
These LTIP Units were granted on December 9, 2014. 250 of the LTIP Units granted were vested upon grant. 375 of the LTIP Units granted are scheduled to vest based on the achievement of certain performance criteria based on the Issuer's total return to shareholders through December 9, 2015. In accordance with applicable Form 4 reporting requirements, the foregoing excludes 375 LTIP Units also granted on December 9, 2014 that are scheduled to vest based on the achievement of certain performance criteria based on the Issuer's relative total return to shareholders measured against an industry-specific index through December 9, 2015.
These LTIP Units were granted on December 10, 2013. 875 of the units were vested as of December 10, 2014 and the remaining units are scheduled to vest 25% on each of the annual anniversaries thereafter, subject to continued employment through such dates.
Represents the grant of Series Z-1 Incentive Units in Essex Portfolio, L.P. ("EPLP") on December 6, 2011, in return for a capital contribution of $1 per unit. As of October 1, 2015, the conversion ratchet percentage was 50%. The conversion ratchet percentage may increase up to 14% each year if certain defined criteria are met. These Z-1 Units generally will be convertible into Common Units of EPLP at the earliest of a change in control or after the entire 2011 grant reaches a 100% conversion ratchet percentage. Common Units are convertible into shares of Common Stock.
/s/ Angela L. Kleiman, Executive Vice President & CFO
2015-10-12