Form 4: Apple Hospitality REIT CEO Sells Shares to Cover Tax Obligations

Apple Hospitality REIT CEO Justin G. Knight sold 59,852 common shares to cover tax obligations related to vesting restricted shares.

Summary

• Justin G. Knight, CEO of Apple Hospitality REIT, sold 59,852 common shares on December 13, 2024, at a price of $16.05 per share.
• This transaction was to satisfy tax withholding obligations related to the vesting of restricted common shares.
• Following the transaction, Knight directly owns 1,798,220 common shares.
• Knight also has indirect ownership of 32,807 shares through the J. Knight Generation Skipping Irrevocable Trust, 304,504 shares through JAMN Limited Partnership, LLP, and 9,837,031 shares through a closely held LLC.
• Knight disclaims beneficial ownership of the indirectly held shares to the extent they exceed his pecuniary interest.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock vests.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the REIT industry and other sectors.
• The number of shares sold is not unusual for a CEO with significant equity holdings.
• Similar transactions are regularly reported by executives at companies like Host Hotels & Resorts (HST) and Park Hotels & Resorts (PK).

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.
• The sale does not indicate any change in the CEO's confidence in the company.

Key Dates

Keywords

Apple Hospitality REIT, Justin G. Knight, share sale, tax obligations, restricted shares, beneficial ownership, Form 4, APLE