Form Type: 4

SEC EDGAR Link
Accession Number:0001493152-16-010374
Date:2016-05-26
Issuer: POWER REIT (PW)
Original Submission Date:

Reporting Person:

LESSER DAVID H
301 WINDING ROAD
OLD BETHPAGE, NY 11804

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK 2016-05-26 P 500 a $4.71 425,500 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
Footnotes
IDfootnote
f1 after giving effect to the reported transaction(s), mr. lesser has beneficial ownership of 425,500 shares: 186,099 directly (including restricted stock and option equity grants (vested and unvested) under the trust's 2012 equity incentive plan), 87,138 through hudson bay partners lp, a wholly owned affiliate, and 54,263 through hbp pw llc, an affiliate managed by david h. lesser. approximately 99.8% of the share capital of hbp pw llc has been provided by a third-party investor. a non qualified stock option to acquire 100,000 common shares ("option") (1) and 20,000 (1) restricted shares of common stock ("restricted stock") were awarded on august 13, 2012, pursuant to the trust's 2012 equity incentive plan. the option and restricted stock awards vest in three equal annual installments beginning with the first anniversary of the respective grants. the options have a 10-year term and a strike price equal to the closing price of the stock on august 13, 2012.
f2 on june 30, 2014, 40,000 restricted shares of common stock were granted to david h. lesser pursuant to the trust's 2012 equity incentive plan which vests over three years in 12 equal quarterly installments beginning with q2 2014. on september 10, 2015 9,400 restricted shares of common stock which vests over twelve quarterly periods beginning with 9/30/15. on 5/5/16 mr. lesser was granted 40,000 shares as compensation which vests quarterly over three years with the first vesting to occur on 6/30/16.
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