Grant Hill - 13 May 2022 Form 4 Insider Report for Empire State Realty Trust, Inc. (ESRT)

Role
Director
Signature
/s/ Heather Lawson Houston (f/k/a Heather M. Lawson), Attorney-in-Fact
Issuer symbol
ESRT
Transactions as of
13 May 2022
Net transactions value
$0
Form type
4
Filing time
17 May 2022, 19:28:59 UTC
Previous filing
01 Apr 2022
Next filing
01 Jul 2022
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 ESRT LTIP Units Award $0 +16,156 +65% $0.000000 40,871 13 May 2022 Class A Common Stock 16,156 Direct F1, F2
transaction ESRT LTIP Units Award $0 +12,821 +31% $0.000000 53,692 13 May 2022 Class A Common Stock 12,821 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These represent long term incentive plan units ("LTIP Units"), a class of units of Empire State Realty OP, L.P. (the "Operating Partnership"). Conditioned upon sufficient allocations to the capital accounts of the LTIP Units for federal income tax purposes, LTIP Units are convertible by the Reporting Person, upon vesting, into an equivalent number of units of limited partnership interests ("Operating Partnership Units") of the Operating Partnership, which are redeemable by the holder for shares of Class A Common Stock of Empire State Realty Trust, Inc. (the "Issuer") on a one-for-one basis or the cash value of such shares, at the Issuer's option. The rights to convert LTIP Units into Operating Partnership Units and redeem Operating Partnership Units do not have expiration dates. These LTIP Units were granted under the Empire State Realty Trust, Inc. Empire State Realty OP, L.P. 2019 Equity Incentive Plan.
F2 These LTIP Units vest ratably on each of the first four anniversaries of the date of grant. Each of the LTIP Units is subject to a holding period for an additional two years following the applicable grant date of such LTIP Unit.
F3 These LTIP Units are fully vested, and are being issued separately in connection with the Reporting Person's election to receive fully vested LTIP Units in lieu of receiving any portion of the Reporting Person's annual base retainer in cash. Each of the LTIP Units is subject to a holding period for an additional two years following the applicable grant date of such LTIP Unit.