Kenneth M. Panzer - 27 Dec 2022 Form 4 Insider Report for Douglas Emmett Inc (DEI)

Role
Chief Operating Officer, Director
Signature
/s/ Peter Seymour, Attorney-in-Fact for Kenneth M. Panzer
Issuer symbol
DEI
Transactions as of
27 Dec 2022
Transactions value $
$0
Form type
4
Filing time
29 Dec 2022, 17:35:16 UTC
Previous filing
04 Jan 2022
Next filing
29 Dec 2023
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DEI Long Term Incentive Plan Units Award $0 +700,438 $0 700,438 27 Dec 2022 Common Stock 700,438 $0 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Long term incentive plan units ("LTIP Units") in Douglas Emmett Properties, LP, a DE limited partnership (the "Operating Partnership") granted pursuant to the 2016 Omnibus Stock Incentive Plan of Douglas Emmett, Inc. ("Issuer"). Issuer is the sole stockholder of the general partner of the Operating Partnership. Upon vesting and certain additional criteria, each LTIP Unit can be converted into one partnership common unit ("OP Unit") of the Operating Partnership, which is ultimately exchangeable into common stock of Issuer, only, if applicable, after achievement of a specified percentage increase in Gross Asset Values of the assets of the Operating Partnership. LTIP Units not converted into OP Units within 10 years of the grant date will be forfeited. Upon the occurrence of certain events, OP Units are redeemable by the holder, without consideration, for an equivalent number of shares of Issuer's common stock or for the cash value of such shares, at Issuer's election.
F2 LTIP Units vest 70% on December 31, 2022. The remaining 30% of the LTIP Units vest in equal installments on December 31, 2023, 2024, and 2025.
F3 Derivative securities owned by the Reporting Person include the LTIP Units reported herein, an additional 454,004 LTIP Units previously granted pursuant to Issuer's 2016 Omnibus Stock Incentive Plan, and 8,293,965 OP Units.