[Form 3] PARAMOUNT GROUP, INC. Initial Statement of Beneficial Ownership
Filing Impact
Filing Sentiment
Form Type
3
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Dembo Timothy Carey
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common OP Units | -- | -- | -- |
| holding | LTIP Units | -- | -- | -- |
| holding | LTIP Units | -- | -- | -- |
| holding | LTIP Units | -- | -- | -- |
| holding | LTIP Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common OP Units — 684 shares (Direct);
LTIP Units — 6,119 shares (Direct);
Common Stock — 2,511 shares (Direct)
Footnotes (1)
- Represents common units of limited partnership interest ("OP Units") in Paramount Group Operating Partnership LP (the "Operating Partnership"). Each OP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock. These redemption rights have no expiration date. Represents LTIP Units issued pursuant to the Issuer's Amended and Restated 2014 Equity Incentive Plan (the "2014 Plan"). Of the 6,119 LTIP Units, 4,589 LTIP Units vested in equal installments on each of February 15, 2023, 2024, and 2025. The remaining 1,530 LTIP Units will vest on February 15, 2026, subject to continued employment. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit will be converted automatically into an OP Unit in the Operating Partnership. Each OP Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The rights to convert vested LTIP Units into OP Units and redeem OP Units do not have expiration dates. Represents the unvested portion of the LTIP Units earned upon the achievement of the performance hurdles pursuant to the Paramount Group, Inc. 2022 Performance Program issued pursuant to the 2014 Plan. These LTIP Units will vest on December 31, 2025, subject to continued employment. Represents LTIP Units issued pursuant to the 2014 Plan. Of the 11,073 LTIP Units, 5,536 LTIP Units vested in equal installments on each of February 15, 2024 and 2025. The remaining 5,537 LTIP Units will vest in two equal installments on each of February 15, 2026 and February 15, 2027, subject to continued employment. Represents LTIP Units issued pursuant to the 2014 Plan. The LTIP Units will vest in two equal installments on each of October 1, 2026 and October 1, 2027, subject to continued employment.
