UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Unvested LTIP Units (1) | Â (2)(3) | Â (2) | Common Stock, $0.0001 par value per share | 1,250 | $ (2) | D | Â |
Vested LTIP Units (1) | Â (2) | Â (2) | Common Stock, $0.0001 par value per share | 3,750 | $ (2) | D | Â |
Unvested LTIP Units (4) | Â (2)(5) | Â (2) | Common Stock, $0.0001 par value per share | 8,328 | $ (2) | D | Â |
Vested LTIP Units (4) | Â (2) | Â (2) | Common Stock, $0.0001 par value per share | 4,119 | $ (2) | D | Â |
Restricted Stock Units | Â (6) | Â (6) | Common Stock, $0.0001 par value per share | 34,804 | $ (7) | D | Â |
Restricted Stock Units | Â (6) | Â (6) | Common Stock, $0.0001 par value per share | 18,601 | $ (8) | D | Â |
Performance Stock Units | Â (9) | Â (9) | Common Stock, $0.0001 par value per share | 18,601 | $ (10) | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Ajdaharian Paul S C/O WASHINGTON PRIME GROUP INC. 180 EAST BROAD STREET COLUMBUS, OH 43215 |
 |  |  Exec VP, Head of Open Air Ctrs |  |
/s/ Stephen E. Ifeduba, attorney-in-fact | 02/01/2019 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Represents long-term incentive performance ("LTIP") units of Washington Prime Group, L.P (the "Operating Partnership"), of which Washington Prime Group Inc. (the "Company" or "Issuer")) is the sole general partner, issued to Mr. Ajdaharian (the "Reporting Person") on August 25, 2014 as long-term incentive compensation pursuant to the Operating Partnership's 2014 Stock Incentive Plan (the "Incentive Plan") in compliance with Rule 16b-3. These LTIP units were issued as "Series 2014B LTIP Units" under the Incentive Plan. |
(2) | When earned and vested, each LTIP unit may be converted (at the Reporting Person's option) on a one-for-one basis into a unit of limited partnership interest ("Partnership Unit") subject to the terms and conditions of the applicable certificate of designation that relates to the LTIP units. Each Partnership Unit may be exchanged for a share of the Company's common stock (the "Common Stock") on a one-for-one basis, or cash, as selected by the Company. LTIP units have no set expiration date. |
(3) | Subject to certain exceptions, the listed LTIP units will vest on August 25, 2018. |
(4) | Represents LTIP units of the Operating Partnership issued to the Reporting Person on February 25, 2016 as long-term incentive compensation pursuant to the Incentive Plan in compliance with Rule 16b-3. These LTIP units were issued as "Series 2015B LTIP Units" under the Incentive Plan. |
(5) | Subject to certain exceptions, 50% of the listed LTIP units will vest on January 15, 2018 and the remaining 50% will vest on January 15, 2019. |
(6) | The listed restricted stock units ("RSUs") shall vest and become nonforfeitable in one-third (33%) installments on each of the first, second and third anniversaries of the February 21, 2017 grant date (the "Grant Date") provided that the Reporting Person is in continued compliance with certain covenants in the Reporting Person's employment agreement, as amended, and subject to certain provisions of such agreement relating to a change in control of the Issuer. |
(7) | Each of the RSUs was issued to the Reporting Person on the Grant Date as incentive compensation payment for the Company's 2016 Annual Awards and represents a contingent right to receive one share of Common Stock. |
(8) | Each of the RSUs was issued to the Reporting Person on the Grant Date in connection with the issuance of the Company's 2017 Annual Awards and represents a contingent right to receive one share of Common Stock. |
(9) | Unvested performance stock units ("PSUs") shall be earned based upon the satisfaction of certain relative total shareholder return ("TSR") criteria with a percentage of vested PSUs ranging from 0% to 150% over a three-year performance period from the Grant Date to February 21, 2020 ("Vesting Date"), provided that the Reporting Person is in continued compliance with certain covenants in the Reporting Person's employment agreement, as amended, and subject to certain provisions of such agreement relating to a change in control of the Issuer. Settlement of the PSUs shall occur as soon as practicable after the Vesting Date, but no later than March 15, 2021. |
(10) | Each of the PSUs was awarded on the Grant Date in connection with the issuance of the Company's 2017 Annual Awards and represents a contingent right to receive one share of Common Stock. |
 Remarks: The Form 3 filed on November 13, 2017 (the "Initial Form 3") for the Reporting Person is being amended by this Form 3/A to correct the number of Issuer common shares listed in Table I as beneficially owned by the Reporting Person at the time the Initial Form 3 was filed. The number of common shares reported should have been 9,302.86 instead of 9,095. All other disclosures in the Initial Form 3 remain unchanged. This Form 3/A is executed pursuant to the Limited Power of Attorney filed as Exhibit 24 to the Initial Form 3. The filing of this Form 3/A shall not be construed as an admission: (a) that the person filing this statement is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owner of any equity securities covered by this statement, or (b) that this statement is legally required to be filed by such person. |