0000899243-19-001500.txt : 20190118
0000899243-19-001500.hdr.sgml : 20190118
20190118170325
ACCESSION NUMBER: 0000899243-19-001500
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20190114
FILED AS OF DATE: 20190118
DATE AS OF CHANGE: 20190118
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Paes Wilbur N.
CENTRAL INDEX KEY: 0001623530
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36746
FILM NUMBER: 19533736
MAIL ADDRESS:
STREET 1: PARAMOUNT GROUP, INC.
STREET 2: 1633 BROADWAY
CITY: NEW YORK
STATE: NY
ZIP: 10018
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Paramount Group, Inc.
CENTRAL INDEX KEY: 0001605607
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798]
IRS NUMBER: 320439307
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1633 BROADWAY, SUITE 1801
CITY: NEW YORK
STATE: NY
ZIP: 10019
BUSINESS PHONE: 212-237-3100
MAIL ADDRESS:
STREET 1: 1633 BROADWAY, SUITE 1801
CITY: NEW YORK
STATE: NY
ZIP: 10019
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2019-01-14
0
0001605607
Paramount Group, Inc.
PGRE
0001623530
Paes Wilbur N.
C/O PARAMOUNT GROUP, INC.
1633 BROADWAY, SUITE 1801
NEW YORK
NY
10019
0
1
0
0
EVP, CFO and Treasurer
LTIP Units
2019-01-14
4
A
0
48623
0.00
A
Common Stock
48623
48623
D
LTIP Units
2019-01-14
4
A
0
65253
0.00
A
Common Stock
65253
65253
D
LTIP Units
2019-01-14
4
A
0
53400
0.00
A
Common Stock
53400
53400
D
Represents LTIP Units issued pursuant to the Paramount Group, Inc. 2018 Performance Program (the "2018 Program") under the Issuer's 2014 Equity Incentive Plan. The LTIP Units granted pursuant to the 2018 Program will vest 50% on the date that performance is determined under the 2018 Program following the conclusion of the three-year performance period ending December 31, 2021 and 50% on December 31, 2022, subject to the achievement of performance criteria and continued employment. The reporting person will be required to hold earned awards for an additional year following vesting.
Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit will be converted automatically into a common unit of limited partnership interest ("OP Unit") in Paramount Group Operating Partnership LP. Each OP Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The conversion feature of vested LTIP Units and the redemption rights for OP Units do not have expiration dates.
LTIP Units issued pursuant to the Issuer's 2014 Equity Incentive Plan. The LTIP Units vest in four equal installments on each of February 15, 2020, 2021, 2022 and 2023, subject to continued employment.
LTIP Units issued pursuant to the Issuer's 2014 Equity Incentive Plan in connection with a cash bonus exchange election made by the reporting person. The LTIP Units vest 40% on February 15, 2020, 40% on February 15, 2021, and 20% on February 15, 2022, subject to continued employment.
/s/ Gage Johnson as attorney-in-fact for Wilbur N. Paes
2019-01-18