Nia Mahbod sold VRE
April 22, 2024 · Form 4 insider transaction
Nia Mahbod sold 227,791 shares of Veris Residential, Inc., a transaction worth N/A. The trade was recorded as option exercise and disclosed on an SEC Form 4, filed 2 days after the transaction.
Footnotes
On April 22, 2024, the reporting person vested in 51,139 performance vesting restricted stock units and (each, a "PVRSU") and forfeited 176,652 PVRSUs that did not vest at the end of the applicable three year performance period. Each PVRSU represented a contingent right to receive one share of common stock, $0.01 par value (the "Common Stock") of Veris Residential, Inc. (the "Company').; Seventy-five percent (75%) of the PVRSUs were eligible to vest over a three year period ended April 20, 2024 based on the attainment of absolute total stockholder return ("TSR") metrics by the Company. The remaining twenty-five percent (25%) of the PVRSUs were eligible to vest over a three year period ended April 21, 2024 based on the Company's TSR relative to the TSR of a select group of twenty-four (24) peer REITs over the same three year performance period.