FrontView REIT (FVR) director awarded 5,311 LTIP incentive units tied to OP Units
Rhea-AI Filing Summary
FrontView REIT, Inc. director Timothy McHugh reported a compensation-related equity award. He received 5,311 LTIP Units of limited partnership interest in FrontView Operating Partnership LP at a reported price of $0.00 per unit, bringing his directly held LTIP Units to 5,311.
Each LTIP Unit is designed to convert into one OP Unit if specified vesting conditions are met, and each OP Unit can then be redeemed for cash equal to the fair market value of one common share or, at the issuer’s election, one common share. The LTIP Units have no expiration date and vest in full on the earlier of the first anniversary of issuance or the day before the company’s first annual stockholders’ meeting held at least 50 weeks after issuance, subject to McHugh’s continued service with the company.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 5,311 | $0.00 | -- |
Footnotes (1)
- Represents units of limited partnership interest designated as "LTIP Units" in FrontView Operating Partnership LP (the "Operating Partnership") granted pursuant to the Equity Plan and the Amended and Restated Agreement of Limited Partnership of the Operating Partnership, dated as of October 3, 2024 (the "Partnership Agreement"). LTIP Units have no expiration date. Each LTIP Unit may be converted at the election of the Issuer or the holder, into a common unit of limited partnership interest in the Operating Partnership (an "OP Unit") only if the vesting conditions described below are met. Each OP Unit is thereafter redeemable at the election of the holder for cash equal to the then fair market value of one Share, or at the Issuer's election, one Share, subject to adjustment as set forth in the Partnership Agreement. These LTIP Units vest in full on the earlier of (i) the first anniversary of the date of issuance and (ii) the day before the Issuer's first annual stockholders' meeting that is held at least 50 weeks following the date of issuance, in either case, subject to continued service with the Issuer through the applicable date.