Franklin Street director awarded 80,342 shares
MCGILLICUDDY DENNIS J reported acquisition or exercise transactions in this Form 4 filing.
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Form Type
4
Rhea-AI Filing Summary
MCGILLICUDDY DENNIS J reported acquisition or exercise transactions in this Form 4 filing.
Franklin Street Properties Corp. director Dennis J. McGillicuddy received an award of 80,342 shares of common stock under the company’s 2002 Stock Incentive Plan. The grant value is $45,000, calculated using a grant-date closing price of $0.5601 per share.
Following this award, McGillicuddy holds 194,858 shares directly. The filing also lists several indirect holdings through a limited partnership, his spouse, and various trusts, with some positions reported while disclaiming beneficial ownership or voting power.
Insider Trade Summary
Grant/Award: 80,342 shares
Grant/Award
5 txns
Insider
MCGILLICUDDY DENNIS J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 80,342 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 194,858 shares (Direct);
Common Stock — 3,873,672 shares (Indirect, See Footnote)
Footnotes (5)
- F1. The shares were issued to the reporting person pursuant to the Franklin Street Properties Corp. 2002 Stock Incentive Plan. The number of shares is equal to $45,000 divided by $0.5601, the closing price of the Issuer's common stock on the grant date.
- F2. Shares held by McGillicuddy Investments Limited Partnership III (the "Partnership"). Mr. McGillicuddy is a limited partner of the Partnership and does not have the power to vote these shares.
- F3. Shares held by the reporting person's spouse. The reporting person disclaims beneficial ownership of these shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.
- F4. Shares held by various trusts for the reporting person's grandchildren, of which the reporting person's spouse is a trustee. The reporting person disclaims beneficial ownership of these shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.
- F5. Shares held by McGillicuddy FLP Irrevocable Trust of 2003, the beneficiary of which is a limited partnership of which the reporting person is the general partner.
Key Figures
Stock grant size: 80,342 shares
Grant value: $45,000
Grant-date share price: $0.5601 per share
+5 more
8 metrics
Stock grant size
80,342 shares
Common stock award under 2002 Stock Incentive Plan
Grant value
$45,000
Determines shares awarded under stock incentive plan
Grant-date share price
$0.5601 per share
Closing price on grant date used to size award
Direct holdings after grant
194,858 shares
Total Franklin Street common stock held directly
Indirect partnership holding
404,499 shares
Held by McGillicuddy Investments Limited Partnership III
Indirect spouse holding
8,946 shares
Shares held by reporting person’s spouse
Indirect grandchildren trusts
14,091 shares
Shares held by various grandchildren trusts
Indirect FLP trust holding
3,446,136 shares
Shares held by McGillicuddy FLP Irrevocable Trust of 2003
Key Terms
Franklin Street Properties Corp. 2002 Stock Incentive Plan, limited partner, beneficial ownership, irrevocable trust, +1 more
5 terms
Franklin Street Properties Corp. 2002 Stock Incentive Plan financial
"The shares were issued to the reporting person pursuant to the Franklin Street Properties Corp. 2002 Stock Incentive Plan."
limited partner financial
"Mr. McGillicuddy is a limited partner of the Partnership and does not have the power to vote these shares."
A limited partner is an investor in a pooled investment vehicle—such as a private equity, venture capital, or real estate fund—who provides capital but does not take part in day‑to‑day management and whose financial responsibility is capped at the amount invested. For investors, being a limited partner matters because it defines how much control they have, how much risk they bear, and how returns are distributed; think of a limited partner as a silent co‑owner who shares in profits and losses while leaving operations to the fund managers.
beneficial ownership financial
"The reporting person disclaims beneficial ownership of these shares, and this report shall not be deemed an admission..."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
irrevocable trust financial
"Shares held by McGillicuddy FLP Irrevocable Trust of 2003, the beneficiary of which is a limited partnership..."
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
Section 16 regulatory
"Beneficial owner of such shares for purposes of Section 16 or for any other purpose."
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Franklin Street Properties (FSP) disclose in this Form 4?
Franklin Street Properties reported that director Dennis J. McGillicuddy received a stock award. He was granted 80,342 shares of common stock under the 2002 Stock Incentive Plan, with the award sized to a grant-date value of $45,000.
What was the value and price used for the FSP stock grant?
The stock grant value was $45,000, based on a closing share price of $0.5601 on the grant date. The number of shares awarded, 80,342, equals $45,000 divided by that Franklin Street Properties common stock price.
What indirect Franklin Street Properties (FSP) holdings are reported for McGillicuddy?
The Form 4 shows multiple indirect holdings, including shares held by McGillicuddy Investments Limited Partnership III, his spouse, and various trusts. For several of these positions, McGillicuddy disclaims beneficial ownership or notes limited voting power over the Franklin Street Properties shares.
Is this Franklin Street Properties (FSP) Form 4 transaction an open-market trade?
No. The Form 4 describes a grant of shares under the 2002 Stock Incentive Plan, not a market purchase or sale. It is compensation-related, with 80,342 shares awarded at a value of $45,000 using the $0.5601 closing price.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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