Form 4: Apple Hospitality REIT Executive Nelson Knight Sells Shares to Cover Tax Obligations

Nelson Knight, President of Real Estate & Investments at Apple Hospitality REIT, sold 24,506 common shares to cover tax obligations related to vesting restricted shares.

Summary

• Nelson Knight, President of Real Estate & Investments at Apple Hospitality REIT, sold 24,506 common shares on December 13, 2024.
• The sale was executed at a price of $16.05 per share.
• This transaction was to cover tax withholding obligations related to the vesting of restricted common shares.
• Following the transaction, Knight directly owns 876,248 common shares.
• Knight also has indirect ownership of 304,504 shares through JAMN Limited Partnership, LLP, 37,601 shares through N. Knight Generation Skipping Irrevocable Trust, 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, with no indication 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 share sales to cover tax obligations are a common practice across publicly traded companies.
• The sale of 24,506 shares is not unusual for an executive at a company of Apple Hospitality REIT's size.
• Similar transactions are regularly reported by executives at other REITs and public companies.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders, as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Apple Hospitality REIT, Nelson Knight, insider trading, Form 4, share sale, tax obligations, restricted shares, executive, real estate, investment