Romano Tio, a director of Bluerock Residential Growth, just received 7,381 restricted shares from the company. The restricted shares don't become available to Tio until such time as they become vested. Tio now owns at least 30,106 restricted shares of the company.
Some additional info was provided as follows:
Represents long-term incentive plan units ("LTIP Units") in Bluerock Residential Holdings, LP (the "Operating Partnership"), of which the Issuer is the general partner. These LTIP Units will be fully vested upon issuance, and may convert to units of limited partnership interest in the Operating Partnership ("OP Units") upon reaching capital account equivalency with the OP Units held by the Issuer, and may then be redeemed for cash or, at the option of th e Issuer and after a one year holding period (including any period during which the LTIP Units were held), settled in shares of the Issuer's Class A common stock on a one-for-one basis.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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