FrontView REIT (FVR) director awarded 5,320 LTIP Units in operating partnership
Rhea-AI Filing Summary
FrontView REIT, Inc. director Fitzgerald Charles received a grant of 5,320 LTIP Units in FrontView Operating Partnership LP as compensation. The LTIP Units were granted at a price of $0.00 per unit and increase his direct derivative holdings to 5,320 units.
According to the grant terms, each LTIP Unit can convert into one OP Unit once vesting conditions are satisfied. Each OP Unit can then be redeemed for either cash equal to the fair market value of one common share of FrontView REIT or, at the company’s election, one common share. The LTIP Units vest in full on the earlier of the first anniversary of issuance or the day before the first annual stockholders’ meeting held at least 50 weeks after issuance, subject to continued service, and they have no expiration date.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 5,320 | $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.