807 LTIP units awarded to FrontView REIT (FVR) director Elizabeth Frank
Rhea-AI Filing Summary
FrontView REIT, Inc. director Elizabeth F. Frank received a grant of 807 LTIP Units in FrontView Operating Partnership LP. The award was made at a price of $0.00 per unit under the company’s 2024 Omnibus Equity and Incentive Plan and the Operating Partnership’s amended partnership agreement.
The LTIP Units vest in full on the earlier of the first anniversary of the grant date or the day before the company’s first annual stockholders’ meeting held at least 50 weeks after grant, subject to her continued service. Each vested LTIP Unit may be converted into an OP Unit, which can then be redeemed for cash equal to the fair market value of one common share or, at the company’s election, one common share itself. The LTIP Units have no expiration date, and following this grant she holds 807 LTIP Units directly.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 807 | $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 Issuer's 2024 Omnibus Equity and Incentive 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.