[Form 4] Global Medical REIT Inc. Insider Trading Activity
Jamie Barber, who serves as General Counsel and Secretary and is a director of Global Medical REIT Inc. (GMRE), converted 130,000 long-term incentive plan units (LTIP Units) in the operating partnership into OP Units and had those OP Units redeemed for an equal number of the issuer's common shares. As a result, Barber directly beneficially owns 130,000 shares of GMRE common stock following the transaction. The filing states LTIP Units were issued under the 2016 Equity Incentive Plan and have no expiration date, and OP Units may be redeemed for cash or, at the issuer's election, for one-for-one shares of common stock.
- Conversion resulted in 130,000 direct common shares, increasing the reporting person鈥檚 directly held stake to 130,000 shares.
- LTIP and OP Units carry no expiration and OP Units are redeemable one-for-one for common stock, preserving optionality for the holder under the partnership agreement.
- None.
Insights
TL;DR: Insider converted equity awards into 130,000 common shares; disclosure is routine and appears neutral absent additional context.
The Form 4 reports a conversion (transaction code M) of vested LTIP Units into OP Units and a one-for-one redemption into 130,000 shares of common stock, increasing direct beneficial ownership to 130,000 shares. The entry shows a $0 price for the units converted, consistent with an in-plan exchange rather than a market purchase. Without company-wide share count or materiality context in this filing, the move is informational and does not, by itself, indicate a material change to capitalization or control.
TL;DR: A senior officer exercised a plan conversion consistent with the equity incentive framework; governance implications are limited and routine.
The filing clarifies that LTIP Units were granted under the issuer's 2016 Equity Incentive Plan, have no expiration, and vested LTIP Units that achieved capital account parity can be exchanged for OP Units which are redeemable one-for-one for common stock at the issuer's election. As General Counsel/Secretary and a director, Barber's conversion into direct common shares aligns personal holdings with equity-based compensation mechanics rather than reflecting an open-market buy or sale. This appears to be a standard plan-driven equity conversion and redemption.