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Kingsmore Scott W

Disclosed activity across 1 company

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91299
SEC CIK
0001761466

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CompanyLast reported asReport datePublished
MACERICH COMAC · Entity 3712Chief Financial OfficerMay 09, 2024May 09, 2024

Disclosed balances

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Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.

MACERICH CO

Report date May 09, 2024 · Filed May 09, 2024

Security / awardOwnership accountDisclosed shares / unitsDisclosure context
Common StockSEC Table I · non-derivativeIndirectKingsmore Family Trust42,310 Reported balance After 2024-05-09 transaction · row 1 Account identity is unresolved; indirect or unspecified ownership is not merged.
1 source row

Row 1 · 2024-05-09 · Purchase · Acquired 6,000 · Balance 42,310

Transaction history

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Purchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”

The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.

Transaction dateCompanyActivity / securityShares / unitsReported priceReported valueDetails
May 09, 2024 Filed May 9, 2024 23:02 UTC MACERICH CO MAC · Entity 3712 PurchaseCommon Stock 6,000 $16.06 $96,360.00
Disclosure

SEC source: 0000912242-24-000085 · wk-form4_1715295727.xml · nonDerivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Indirect · Kingsmore Family Trust

Disclosed balance after: 42,310

Read SEC document
April 24, 2024 Filed Apr 27, 2024 01:02 UTC MACERICH CO MAC · Entity 3712 GrantLTIP Units · Derivative 40,368 $0.00 $0.00
Disclosure

SEC source: 0000912242-24-000063 · wk-form4_1714179713.xml · derivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 180,135

Underlying: Common Stock · 40,368 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents the vesting of performance-based units of limited partnership interest in The Macerich Partnership, LP (the "Partnership"), of which the Issuer is the general partner. These LTIP Units were issued as long-term incentive compensation and vested upon achievement of certain pre-established performance criteria. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in the Partnership ("Common Unit"). Each Common Unit may generally be redeemed, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit for one share of common stock. The rights to convert LTIP Units into Common Units and redeem for common stock do not have expiration dates.

F1 · derivative.exercise_date: Represents the vesting of performance-based units of limited partnership interest in The Macerich Partnership, LP (the "Partnership"), of which the Issuer is the general partner. These LTIP Units were issued as long-term incentive compensation and vested upon achievement of certain pre-established performance criteria. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in the Partnership ("Common Unit"). Each Common Unit may generally be redeemed, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit for one share of common stock. The rights to convert LTIP Units into Common Units and redeem for common stock do not have expiration dates.

F2 · derivative.exercise_date: On January 1, 2021, the reporting person was granted an LTIP Unit award pursuant to which the reporting person could earn 48,223 LTIP Units at target performance, based on the Issuer's performance relative to certain performance criteria during the period from January 1, 2021 through December 31, 2023. On April 24, 2024, the Compensation Committee of the Board of Directors of the Issuer determined that 40,368 of the LTIP Units, or 83.7% of the target amount, were earned based on the Issuer's performance during the performance period. The LTIP Units vested on December 31, 2023 and must be retained by the reporting person until December 31, 2024.

F1 · derivative.expiration_date: Represents the vesting of performance-based units of limited partnership interest in The Macerich Partnership, LP (the "Partnership"), of which the Issuer is the general partner. These LTIP Units were issued as long-term incentive compensation and vested upon achievement of certain pre-established performance criteria. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in the Partnership ("Common Unit"). Each Common Unit may generally be redeemed, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit for one share of common stock. The rights to convert LTIP Units into Common Units and redeem for common stock do not have expiration dates.

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February 15, 2024 Filed Feb 20, 2024 23:37 UTC MACERICH CO MAC · Entity 3712 GrantLTIP Units · Derivative 42,125 $0.00 $0.00
Disclosure

SEC source: 0000912242-24-000018 · wk-form4_1708472201.xml · derivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 139,767

Underlying: Common Stock · 42,125 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F1 · derivative.exercise_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F2 · derivative.exercise_date: LTIP Units vest one-third on December 31, 2024, one-third on December 31, 2025 and one-third on December 31, 2026.

F1 · derivative.expiration_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

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January 01, 2023 Filed Jan 4, 2023 23:34 UTC MACERICH CO MAC · Entity 3712 GrantLTIP Units · Derivative 57,726 $0.00 $0.00
Disclosure

SEC source: 0001209191-23-001352 · doc4.xml · derivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 129,663

Underlying: Common Stock · 57,726 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F1 · derivative.exercise_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F2 · derivative.exercise_date: LTIP Units vest one-third on December 31, 2023, one-third on December 31, 2024 and one-third on December 31, 2025.

F1 · derivative.expiration_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

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September 26, 2022 Filed Sep 26, 2022 22:41 UTC MACERICH CO MAC · Entity 3712 PurchaseCommon Stock 4,000 $7.55 $30,180.00
Disclosure

SEC source: 0001209191-22-051299 · doc4.xml · nonDerivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · Kingsmore Family Trust

Disclosed balance after: 36,310

F1 · price: Includes 1,355 shares acquired as part of the Company's quarterly dividend paid on June 3, 2020.

Read SEC document
January 01, 2022 Filed Jan 5, 2022 02:03 UTC MACERICH CO MAC · Entity 3712 GrantLTIP Units · Derivative 37,615 $0.00 $0.00
Disclosure

SEC source: 0001209191-22-001209 · doc4.xml · derivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 103,860

Underlying: Common Stock · 37,615 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F1 · derivative.exercise_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F2 · derivative.exercise_date: LTIP Units vest one-third on December 31, 2022, one-third on December 31, 2023 and one-third on December 31, 2024.

F1 · derivative.expiration_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

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January 01, 2021 Filed Jan 6, 2021 00:51 UTC MACERICH CO MAC · Entity 3712 GrantLTIP Units · Derivative 44,517 $0.00 $0.00
Disclosure

SEC source: 0001209191-21-001672 · doc4.xml · derivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 66,245

Underlying: Common Stock · 44,517 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F1 · derivative.exercise_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F2 · derivative.exercise_date: LTIP Units vest one-third on December 31, 2021, one-third on December 31, 2022 and one-third on December 31, 2023.

F1 · derivative.expiration_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

Read SEC document
March 18, 2020 Filed Mar 19, 2020 22:21 UTC MACERICH CO MAC · Entity 3712 PurchaseCommon Stock 10,000 $6.32 $63,178.00
Disclosure

SEC source: 0001209191-20-020329 · doc4.xml · nonDerivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · Kingsmore Family Trust

Disclosed balance after: 22,518

F1 · price: The purchase price ranged from $6.265 to $6.64.

Read SEC document
January 01, 2020 Filed Jan 3, 2020 23:00 UTC MACERICH CO MAC · Entity 3712 GrantLTIP Units · Derivative 13,930 $0.00 $0.00
Disclosure

SEC source: 0001209191-20-001348 · doc4.xml · derivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,728

Underlying: Common Stock · 13,930 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F1 · derivative.exercise_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F2 · derivative.exercise_date: LTIP Units vest one-third on December 31, 2020, one-third on December 31, 2021 and one-third on December 31, 2022.

F1 · derivative.expiration_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

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May 30, 2019 Filed May 31, 2019 15:17 UTC MACERICH CO MAC · Entity 3712 PurchaseCommon Stock 3,000 $37.14 $111,408.60
Disclosure

SEC source: 0001209191-19-033564 · doc4.xml · nonDerivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Indirect · Kingsmore Family Trust

Disclosed balance after: 9,117

F1 · price: The purchase price ranged from $36.85 to $37.46.

F2 · balance_after: In addition, 11,838 shares are held directly by the reporting person.

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March 08, 2019 Filed Mar 13, 2019 01:27 UTC MACERICH CO MAC · Entity 3712 GrantCommon Stock 5,803 $0.00 $0.00
Disclosure

SEC source: 0001209191-19-019043 · doc4.xml · nonDerivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,838

F1 · balance_after: In addition, 6,117 shares are held in a Family Trust of which the reporting person is the trustee.

Read SEC document
January 01, 2019 Filed Jan 4, 2019 01:48 UTC MACERICH CO MAC · Entity 3712 GrantLTIP Units · Derivative 7,798 $0.00 $0.00
Disclosure

SEC source: 0001209191-19-001594 · doc4.xml · derivative · entry 1

Kingsmore Scott W · CIK 0001761466 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,798

Underlying: Common Stock · 7,798 shares

Expires not disclosed

F1 · derivative.exercise_price: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F1 · derivative.exercise_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

F2 · derivative.exercise_date: LTIP Units vest one-third on December 31, 2019, one-third on December 31, 2020 and one-third on December 31, 2021.

F1 · derivative.expiration_date: Represents units of limited partnership interest in The Macerich Partnership, L.P. (the "Partnership"), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and time vesting, each LTIP Unit may be converted into a common unit of limited partnership interest in the Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Issuer's common stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of common stock. The rights to convert LTIP Units to Common Units and redeem Common Units do not have expiration dates.

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Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.