Form 4: Armada Hoffler Properties COO Shawn J. Tibbetts Reports Changes in Beneficial Ownership

Shawn J. Tibbetts, COO of Armada Hoffler Properties, reports the surrender of shares to cover tax obligations related to vesting restricted stock and an adjustment to LTIP Units.

Summary

• On March 4, 2024, Shawn J. Tibbetts, the President and COO of Armada Hoffler Properties, Inc., reported a transaction involving the surrender of 7,455 shares of common stock to satisfy tax withholding obligations.
• The shares were surrendered at a price of $10.4 per share.
• Following the transaction, Tibbetts directly owns 67,730 shares of common stock.
• An adjustment was made to the number of LTIP Units beneficially owned, decreasing the total by one unit to correct a rounding error, resulting in a total of 68,850 LTIP Units.
• These LTIP Units, held in Armada Hoffler, L.P., are convertible into Class A common units, which are redeemable for cash or common stock of Armada Hoffler Properties.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and corrections, indicating stability and adherence to regulatory requirements. It is neither overly positive nor negative.

Industry Context

This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.

Key Dates