General Growth Properties director just disposed of 702 shares

Christina Lofgren, a director of General Growth Properties, recently disposed of 702 shares of the company. The disposals took place at $0.00 per share, on dates ranging from August 27 to August 28, 2018. Lofgren still owns 2,609 shares of the company. Lofgren operates out of Chicago, IL. Some additional info was provided as follows:

Disposed of pursuant to the Agreement and Plan of Merger, dated as of March 26, 2018, among Brookfield Property Partners L.P. ("BPY"), Goldfinch Merger Sub Corp., an indirect, wholly owned subsidiary of BPY ("Merger Sub"), and GGP Inc. (the "Issuer") (as amended on June 25, 2018, the "Merger Agreement"). At the effective time of the merger (the "Merger Effective Time") as contemplated in the Merger Agreement, each share of outstanding co mmon stock (other than appraisal shares, shares of restricted common stock and certain other shares) was cancelled in exchange for $0.312 per share (the "Per Share Merger Consideration"). Includes 1,104 shares of restricted common stock which were cancelled and converted into a combination of cash and shares of Class A stock of the Issuer ("Class A Stock") in connection with the transactions contemplated by the Merger Agreement. Shares of the Issuer's class A stock, par value $0.01 per share ("class A stock"), were issued to certain holders of record of GGP common stock as of the end of trading on the New York Stock Exchange on July 27, 2018 (the "Pre-Closing Dividend"). The Pre-Closing Dividend consisted of either cash or equity (in the form of class A stock or limited partnership units of Brookfield Property Partners L.P. ("BPY")). Depending on the elections made by the Reporting Person, and the proration of the Pre-Closing Dividend pursuant to the Agreement and Plan of Merger, dated as of March 26, 2018, among BPY, Goldfinch Merger Sub Corp., an indirect, wholly owned subsidiary of BPY ("Merger Sub"), and the Issuer (as amended on June 25, 2018, the "Merger Agreement"), each share of the Issuer's common stock received up to 0.986 shares of class A stock or 0.986 limited partnership units of BPY. (Continued from footnote 2) At this time, the number of shares of class A stock issued to the reporting person in the pre-closing dividend was unable to be determined, and for reporting purposes, we have assumed that the reporting person received the maximum number of shares of class A stock that could have been received. Shares of class A Stock received in respect of cancelled shares of time-vesting restricted common stock, pursuant to the Merger Agreement.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

To receive a free e-mail notification whenever General Growth Properties makes a similar move, sign up!

Auto Refresh

Feedback