Jordan B. Ruddy, Bluerock Residential Growth's See Remarks, has now declared ownership of 0 restricted shares from the company. The restricted shares don't become available to Ruddy until such time as they become vested.
Some additional info was provided as follows:
On July 14, 2021, for estate planning purposes, the Reporting Person transferred, for no consideration, an aggregate of 478,881 restricted units of partnership interests ("LTIP Units") in Bluerock Residential Holdings, LP (the "Operating Partnership"), of which the Issuer is the general partner to an irrevocable trust of which members of the Reporting Person's family are the beneficiaries, and of which the Reporting Person is neither a trustee or beneficiary. LTIP Units may, subject to certain l imitations, convert to limited partnership interest ("OP Units") in the Operating Partnership 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 the 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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