Statement of Changes in Beneficial Ownership (4)
January 04 2022 - 4:58PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Decker Mark Okey Jr |
2. Issuer Name and Ticker or Trading Symbol
CENTERSPACE
[
CSR
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President, CEO and CIO |
(Last)
(First)
(Middle)
C/O CENTERSPACE, 3100 10TH STREET SW |
3. Date of Earliest Transaction
(MM/DD/YYYY)
1/1/2022 |
(Street)
MINOT, ND 58701
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Shares of Beneficial Interest | 1/1/2022 | | M | | 991 | A | $0 | 37555.78 (1) | D | |
Common Shares of Beneficial Interest | 1/1/2022 | | F | | 356 (2) | D | $110.90 | 37199.78 (1) | D | |
Common Shares of Beneficial Interest | | | | | | | | 20 | I | Child 4 |
Common Shares of Beneficial Interest | | | | | | | | 20 | I | Child 2 |
Common Shares of Beneficial Interest | | | | | | | | 20 | I | Child 3 |
Common Shares of Beneficial Interest | | | | | | | | 1525 | I | By Spouse IRA |
Common Shares of Beneficial Interest | | | | | | | | 20 | I | Child 1 |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Restricted Stock Units | $0.0 | 1/1/2022 | | A | | 1991 (3) | | (3) | (3) | Common Shares of Beneficial Interest | 1991.0 | $0 | 1991 | D | |
Restricted Stock Units | $0.0 | 1/1/2022 | | M | | | 991 | 1/1/2022 | 1/1/2022 | Common Shares of Beneficial Interest | 991.0 | $0 | 1982 | D | |
Stock Options (Right to Buy) | $110.9 | 1/1/2022 | | A | | 13366 (4) | | (4) | 1/1/2032 | Common Shares of Beneficial Interest | 13366.0 | $110.90 | 13366 | D | |
Explanation of Responses: |
(1) | The number of shares includes 88.119 shares acquired in 2021 under the Company's dividend reinvestment plan (the "DRIP"). It also include additional shares that were not previously reported due to administrative errors. The majority of these shares are time-vested RSUs that were appropriately reported as derivates on the reporting person's Forms 4 at the time of grant, but not recategorized as shares of common stock at the time of vesting. It also includes shares acquired in years prior to 2021 under the DRIP. |
(2) | Represents shares withheld for payment of taxes in connection with the vesting of restricted stock. |
(3) | Represents a time-based contingent right to receive 1,991 common shares of beneficial interest of Centerspace vesting over three years, in one-third increments on each anniversary of the grant date: January 1, 2023, 2024 and 2025. |
(4) | Represents the right to purchase 13,366 common shares of beneficial interest of Centerspace, vesting over four years in one-fourth increments on each anniversary of the grant date: January 1, 2023, 2024, 2025 and 2026. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Decker Mark Okey Jr C/O CENTERSPACE 3100 10TH STREET SW MINOT, ND 58701 | X |
| President, CEO and CIO |
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Signatures
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Anne Olson, Attorney in Fact for Mark O. Decker, Jr. | | 1/4/2022 |
**Signature of Reporting Person | Date |
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