Vivmark grants COO multi-year equity awards
Vivmark Residential’s EVP & COO received new time-vested share and partnership unit awards across the 2024–2026 long-term incentive plans.
Rhea-AI Filing Summary
VIVMARK RESIDENTIAL (symbol: VMRK) is the issuer of record for a Form 4 filing submitted to the SEC. Manelis Michael L reported acquisition or exercise transactions in this Form 4 filing.
Vivmark Residential (VMRK) reported that Executive Vice President & COO Michael L. Manelis received multiple equity awards on August 31, 2026. He was granted restricted common shares under the company’s 2024, 2025 and 2026 Long-Term Incentive Plans, which are scheduled to vest on January 4, 2027, January 3, 2028 and January 2, 2029, respectively. He also received and retained Restricted Units in ERP Operating Limited Partnership tied to the same plans, which can ultimately be exchanged on a one-for-one basis for common shares or cash, subject to vesting and tax-related conditions. In addition, 1,326 common shares are held indirectly for his benefit in a Supplemental Executive Retirement Plan account. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 70,727 shares
Grant/Award
7 txns
Insider
Manelis Michael L
Role
Executive Vice President & COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Units F6, F7, F8 | 11,055 | $0.00 | $0.00 |
| Grant/Award | Restricted Units F9, F7, F10 | 11,310 | $0.00 | $0.00 |
| Grant/Award | Restricted Units F11, F7, F12 | 13,805 | $0.00 | $0.00 |
| Grant/Award | Common Shares Of Beneficial Interest F1, F2 | 10,536 | $0.00 | $0.00 |
| Grant/Award | Common Shares Of Beneficial Interest F3, F2 | 10,820 | $0.00 | $0.00 |
| Grant/Award | Common Shares Of Beneficial Interest F4, F2 | 13,201 | $0.00 | $0.00 |
| holding | Common Shares Of Beneficial Interest F5 | -- | -- | -- |
Holdings After Transaction:
Restricted Units — 36,170 contracts (Direct);
Common Shares Of Beneficial Interest — 79,270 shares (Direct);
Common Shares Of Beneficial Interest — 1,326 shares (Indirect, SERP Account)
Footnotes (12)
- F1. Represents restricted shares of Vivmark Residential (formerly known as Equity Residential) (the "Company") issued in connection with the settlement of an award under the Company's 2024 Long-Term Incentive Plan which are scheduled to vest on January 4, 2027.
- F2. Direct total includes restricted shares of the Company scheduled to vest in the future.
- F3. Represents restricted shares of the Company issued in connection with the settlement of an award under the Company's 2025 Long-Term Incentive Plan which are scheduled to vest on January 3, 2028.
- F4. Represents restricted shares of the Company issued in connection with the settlement of an award under the Company's 2026 Long-Term Incentive Plan which are scheduled to vest on January 2, 2029.
- F5. Represents shares owned by Principal Trust Company, as Trustee of the Equity Residential Supplemental Executive Retirement Plan (the "SERP"), for the benefit of the reporting person.
- F6. Represents restricted limited partnership interests ("RUs") in ERP Operating Limited Partnership (the "Operating Partnership"), the operating partnership of the Company, retained in connection with the settlement of an award under the Company's 2024 Long-Term Incentive Plan.
- F7. RUs are a class of partnership interest that automatically convert into an equal number of limited partnership interests of the Operating Partnership ("OP Units") when the capital account related to the RUs reaches a specified target for federal income tax purposes (provided such target is reached within ten years of issuance). Subject to the vesting requirements of the grant and certain other conditions, OP Units are exchangeable by the holder for common shares of the Company on a one-for-one basis or cash value of such shares, at the Company's option. The RUs reflected in this report also include any OP Units into which such RUs automatically convert.
- F8. The RUs are scheduled to vest on January 4, 2027.
- F9. Represents RUs in the Operating Partnership retained in connection with the settlement of an award under the Company's 2025 Long-Term Incentive Plan.
- F10. The RUs are scheduled to vest on January 3, 2028.
- F11. Represents RUs in the Operating Partnership retained in connection with the settlement of an award under the Company's 2026 Long-Term Incentive Plan.
- F12. The RUs are scheduled to vest on January 2, 2029.
Key Figures
Restricted Units grant (2024 LTIP): 11,055 units
Restricted Units grant (2025 LTIP): 11,310 units
Restricted Units grant (2026 LTIP): 13,805 units
+4 more
7 metrics
Restricted Units grant (2024 LTIP)
11,055 units
Restricted Units in ERP Operating Limited Partnership tied to 2024 Long-Term Incentive Plan, vesting January 4, 2027
Restricted Units grant (2025 LTIP)
11,310 units
Restricted Units in ERP Operating Limited Partnership tied to 2025 Long-Term Incentive Plan, vesting January 3, 2028
Restricted Units grant (2026 LTIP)
13,805 units
Restricted Units in ERP Operating Limited Partnership tied to 2026 Long-Term Incentive Plan, vesting January 2, 2029
Restricted common shares grant (2024 LTIP)
10,536 shares
Restricted shares issued in settlement of 2024 Long-Term Incentive Plan award, vesting January 4, 2027
Restricted common shares grant (2025 LTIP)
10,820 shares
Restricted shares issued in settlement of 2025 Long-Term Incentive Plan award, vesting January 3, 2028
Restricted common shares grant (2026 LTIP)
13,201 shares
Restricted shares issued in settlement of 2026 Long-Term Incentive Plan award, vesting January 2, 2029
SERP indirect holdings
1,326 shares
Common shares held by Principal Trust Company as trustee of the Supplemental Executive Retirement Plan for the reporting person
Key Terms
Restricted Units, Long-Term Incentive Plan, Operating Partnership, OP Units, +1 more
5 terms
Restricted Units financial
"Represents restricted limited partnership interests ("RUs") in ERP Operating"
Long-Term Incentive Plan financial
"settlement of an award under the Company's 2024 Long-Term Incentive Plan"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
Operating Partnership financial
"in ERP Operating Limited Partnership (the "Operating Partnership")"
An operating partnership is a separate legal entity set up to own and run a company’s core assets and day-to-day businesses, while investors hold interests indirectly through the parent company. Think of it like a dedicated garage that actually stores and services the cars while the owner keeps the dealership; it matters to investors because it affects how income, taxes, liability and voting rights are allocated and therefore can influence distributions and risk.
OP Units financial
"convert into an equal number of limited partnership interests of the Operating Partnership ("OP Units")"
OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.
Supplemental Executive Retirement Plan financial
"Equity Residential Supplemental Executive Retirement Plan (the "SERP")"
FAQ
What equity awards did VMRK grant to EVP & COO Michael L. Manelis on August 31, 2026?
On August 31, 2026, Michael L. Manelis received restricted common shares under the 2024, 2025 and 2026 Long-Term Incentive Plans and Restricted Units in ERP Operating Limited Partnership that are ultimately exchangeable into common shares, all granted at a reported price of $0.00 per share.
What are the Restricted Units reported for VMRK’s Michael L. Manelis?
The reported Restricted Units are a class of partnership interest in ERP Operating Limited Partnership that automatically convert into OP Units when a tax-related capital account target is met, and, subject to vesting and conditions, OP Units are exchangeable one-for-one for Vivmark Residential common shares or cash.
Does this VMRK Form 4 indicate trades under a Rule 10b5-1 plan?
No. The document-level Rule 10b5-1 checkbox is unchecked, and there is no footnote indicating that these equity awards or holdings changes were made under a Rule 10b5-1 or similar pre-arranged trading plan.
What indirect VMRK holdings does Michael L. Manelis have via the SERP?
The filing discloses 1,326 common shares held indirectly for Michael L. Manelis by Principal Trust Company as trustee of the Supplemental Executive Retirement Plan (SERP), for his benefit.
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