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

Karen Catherine Gallagher, SVP & Chief Operating Officer of Apple Hospitality REIT, sold 22,621 common shares to cover tax obligations related to vesting restricted shares.

Summary

• Karen Catherine Gallagher, a Senior Vice President and Chief Operating Officer at Apple Hospitality REIT, sold 22,621 common shares on December 13, 2024.
• The sale was executed at a price of $16.05 per share.
• This transaction was to satisfy tax withholding obligations associated with the vesting of restricted common shares.
• Following the transaction, Ms. Gallagher directly owns 295,599 common shares.

Sentiment

Score: 5

Explanation: This is a neutral event, a routine transaction for an executive to cover tax obligations. It does not indicate any positive or negative sentiment about the company's performance.

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

• Similar transactions are common across publicly traded companies, especially in the real estate investment trust (REIT) sector, where stock-based compensation is a typical part of executive pay.
• Other REIT executives often sell shares to cover taxes upon vesting of restricted stock units (RSUs) or performance-based equity awards.
• For example, executives at companies like Host Hotels & Resorts (HST) and Park Hotels & Resorts (PK) regularly file similar Form 4 documents detailing such transactions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Apple Hospitality REIT, insider trading, Form 4, share sale, executive, tax obligations, APLE, Karen Catherine Gallagher