Service Properties director withholds 6,646 shares
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Form Type
4
Rhea-AI Filing Summary
Service Properties Trust director Adam D. Portnoy reported a disposition of 6,646 common shares of beneficial interest on September 17, 2026, representing shares withheld to pay tax liabilities upon vesting under Rule 16b-3 at an effective price of $6.57 per share. Following this tax-withholding event, he holds 114,933 common shares directly and also has indirect interests in additional shares held by ABP Trust and The RMR Group LLC, for which beneficial ownership is disclaimed except for his pecuniary interest.
Insider Trade Summary
Tax Withholding: 6,646 shares
Tax Withholding
1 txn
Insider
PORTNOY ADAM D.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Shares of Beneficial Interest F1 | 6,646 | $6.57 | $44K |
| Holding | Common Shares of Beneficial Interest F2 | -- | -- | -- |
| Holding | Common Shares of Beneficial Interest F3 | -- | -- | -- |
Holdings After Transaction:
Common Shares of Beneficial Interest — 114,933 shares (Direct);
Common Shares of Beneficial Interest — 8,667,890 shares (Indirect, See Footnote)
Holdings Before and After:
Common Shares of Beneficial Interest, 121,579 to 114,933 shares (Direct)
Footnotes (3)
- F1. Payment of tax liability by withholding securities incident to the vesting of the security issued in accordance with Rule 16b-3.
- F2. These shares are held by ABP Trust; Mr. Portnoy, as the sole trustee, an officer and the controlling shareholder of ABP Trust, may be deemed to be a beneficial owner of these shares, but Mr. Portnoy disclaims such beneficial ownership except to the extent of his pecuniary interest therein.
- F3. These shares are held by The RMR Group LLC ("RMR LLC"). RMR LLC is a direct majority owned subsidiary of The RMR Group Inc. ("RMR Inc."), of which Mr. Portnoy is a managing director and controlling shareholder through ABP Trust. Mr. Portnoy is also a beneficial owner and a director of RMR LLC and RMR Inc. Each of Mr. Portnoy, ABP Trust and RMR Inc. may be deemed to be a beneficial owner of these shares, but they each disclaim such beneficial ownership except to the extent of their pecuniary interest therein.
Key Figures
Shares withheld for tax liability: 6,646 shares
Effective price per share for tax withholding: $6.57 per share
Direct holdings after transaction: 114,933 shares
+1 more
4 metrics
Shares withheld for tax liability
6,646 shares
Common shares withheld on September 17, 2026 to pay tax on vesting
Effective price per share for tax withholding
$6.57 per share
Value used for the 6,646 shares withheld on September 17, 2026
Direct holdings after transaction
114,933 shares
Common shares of beneficial interest held directly by Adam D. Portnoy after September 17, 2026
Tax-liability-related share disposition
6,646 shares
Shares used for payment of tax liability by withholding securities
Key Terms
Rule 16b-3, beneficial owner, pecuniary interest
3 terms
Rule 16b-3 regulatory
"Payment of tax liability by withholding securities incident to the vesting of the security issued in accordance with Rule 16b-3."
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
beneficial owner financial
"may be deemed to be a beneficial owner of these shares, but Mr. Portnoy disclaims such beneficial ownership"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
pecuniary interest financial
"disclaims such beneficial ownership except to the extent of his pecuniary interest therein."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What transaction did director Adam D. Portnoy report for SVC on September 17, 2026?
Adam D. Portnoy reported that 6,646 common shares of Service Properties Trust were withheld on September 17, 2026 to satisfy tax liabilities upon vesting of an equity award under Rule 16b-3, at an effective price of $6.57 per share.
AI-generated analysis. How Rhea-AI works. Not financial advice.
