Eric E. Apperson - 04 Jan 2024 Form 4 Insider Report for Armada Hoffler Properties, Inc. (AHH)

Role: President of Construction
Signature: /s/ Matthew T. Barnes-Smith, Attorney-in-Fact for Eric E. Apperson
Issuer symbol: AHH
Transactions as of: 04 Jan 2024
Net transactions value: +$14,647
Form type: 4
Filing time: 13 Mar 2024, 17:16:37 UTC
Previous filing: 10 Oct 2023
Next filing: 25 Mar 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AHH	Common Stock	Purchase	$14,647	+1,203	+1.2%	$12.18	97,650	04 Jan 2024	Direct	F1

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	AHH	LTIP Units	Award	$0	+30,865		$0.000000	30,865	11 Mar 2024	Common Stock	30,865		Direct	F2, F3, F4
holding	AHH	Common Units						225,124	04 Jan 2024	Common Stock	225,124		Direct	F3, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares purchased pursuant to a broker-sponsored dividend reinvestment program.
F2	Represents LTIP Units ("LTIP Units") in the Armada Hoffler, L.P. (the "Partnership"), the operating partnership of Armada Hoffler Properties, Inc. (the "Company"). Under the limited partnership agreement of the Partnership (the "OP Agreement") and subject to conditions set forth in the OP Agreement, upon vesting of LTIP Units, LTIP Units are convertible into Class A common units of limited partnership interest ("Common Units") at the holder's option. Under the LTIP Unit award agreement, except in connection with a Change of Control (as defined in the OP Agreement), the LTIP Units may not be converted to Common Units until two years following the date of grant. LTIP Units have no expiration date.
F3	Each Common Unit is redeemable for cash equal to the then-current market value of one share of the Company's common stock or, at the election of the Company, one share of the Company's common stock. Common Units have no expiration date.
F4	Represents a grant of unvested LTIP Units, 40% of which vested on the grant date, 20% of which will vest on the first anniversary of the grant date, 20% of which will vest on the second anniversary of the grant date and 20% of which will vest on the third anniversary of the grant date, subject to the executive's continued employment on such dates.
F5	Represents Common Units in the Partnership. All Common Units in this report were issued more than one year prior to the date hereof and, therefore, may be tendered for redemption by the holder.