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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN 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. | |||
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. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction 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 (Month/Day/Year) |
7. Title and Amount of Underlying Securities (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) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Units in 401(k) plan | (1) (2) | (1)(2) | (1)(2) | Common Stock | (1) (2) | 3,745.915 (1) (2) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
WILKES THOMAS L 4401 NORTHSIDE PARKWAY SUITE 800 ATLANTA, GA 30327-3057 |
EVP and President PAM |
/s/ Sherry Cohen, Power of Attorney | 04/13/2006 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(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) | The issuer changed record keepers and investment options in the Post Properties, Inc. 401(k) Plan (the "Plan") as of April 1, 2006 (the "Transfer Date"). The changes result in the shares of issuer common stock to be reflected as units rather than actual shares. As a result, holdings in issuer common stock will be reported in terms of units in Table 2 of Form 4 reporting rather than, as in the past, shares in Table 1. The total assets of the issuer stock fund represented by the units is comprised of issuer stock and a small cash balance used to simplify trading activity. Each unit was valued at $10 on the Transfer Date. The unit value will fluctuate based on any fluctuations in the value of the issuer common stock and the daily cash position. Future dividends on the issuer common stock held in the issuer stock fund will be reflected in the unit value. |
(2) | The value of the shares of issuer common stock held by reporting person on the Transfer Date, based upon the closing price of issuer common stock as reported on the NYSE on March 31, 2006, was divided by $10 to determine the number of units attributable to the reporting person after the changes. Thus, 841.7786 shares held by reporting person in the Plan on the Transfer Date was converted into 3745.915 units. The number of shares of issuer stock attributable to the reporting person can be determined at any time by first multiplying the number of units in the reporting person's account by the then current unit price and dividing the total by the price of the issuer common stock. The Plan has always been and will continue to be within the definition of "Qualified Plan" as defined in Rule 16b-3(b)(4). |