Sheila J. Teabo Form 4 POST PROPERTIES / Sheila J. Teabo ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Teabo Sheila J.

(Last) (First) (Middle)

4401 NORTHSIDE PARKWAY

SUITE 800

(Street)

ATLANTA GA 30327

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
POST PROPERTIES INC [ PPS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Executive Vice Pres.

3. Date of Earliest Transaction (Month/Day/Year)
11/30/2016

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/30/2016		F(1)(2)		804(3)	D	$65.02	34,858.66(4)	D
Common Stock	11/30/2016		F(1)(2)		2,175(3)	D	$65.02	32,683.66	D
Common Stock	11/30/2016		F(1)(2)		3,152(3)	D	$65.02	29,531.66	D
Common Stock	11/30/2016		D		29,531.66	D	(1)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Units in 401(k) Plan	(5)	11/30/2016		D(5)			1,610.8714(5)	(5)	(5)	Common Stock	1,610.8714(5)	(5)	0	D
Stock Option	$37.04	11/30/2016		D(6)			1,014	(6)	02/07/2021	Common Stock	1,014	(6)	0	D
Stock Option	$44.05	11/30/2016		D(6)			2,970	(6)	01/25/2022	Common Stock	2,970	(6)	0	D
Stock Option	$50.3	11/30/2016		D(6)			2,900	(6)	01/28/2023	Common Stock	2,900	(6)	0	D
Stock Option	$46.93	11/30/2016		D(6)			3,880	(6)	01/31/2024	Common Stock	3,880	(6)	0	D
Stock Option	$60.4	11/30/2016		D(6)			3,290	(6)	02/03/2025	Common Stock	3,290	(6)	0	D
Stock Option	$57.8	11/30/2016		D(6)			10,070	(6)	02/01/2026	Common Stock	10,070	(6)	0	D

Explanation of Responses:

1. As of November 30, 2016, Issuer was acquired by Mid-America Apartment Communities, Inc. ("MAA") pursuant to a merger agreement dated August 15, 2016 (Merger Agreement"), as described in the Issuer/MAA Joint Proxy Statement dated September 30, 2016 and filed by MAA with the SEC on that date (the "Merger"). Each outstanding share of Issuer Common Stock was converted into .71 shares of MAA Common Stock ("Exchange Ratio") with cash paid for fractional shares. All dispositions by Reporting Person in the Merger were approved in advance by Issuer's Board of Directors.

2. Issuer outstanding unvested restricted stock units ("RSU's") became fully vested under the Merger Agreement and Issuer shares were withheld for payment of withholding income taxes. All vested RSU's were then converted into MAA common stock at the Exchange Ratio.

3. Reflects shares of common stock surrendered to the company to satisfy tax withholding obligations in connection with the vesting of shares of restricted stock.

4. Balance includes 4 shares purchased under the Issuer's Employee Stock Purchase Plan, during the purchase period July 1, 2016 to November 18, 2016.

5. The issuer's outside administrator for the employees 401(k) plan held issuer stock in a pooled fund as a participant investment option. Participant contributions designated to be invested in issuer common stock were accounted for as units of interest in the issuer fund. As of 11/30/2016, the equivalent of 1610.871424 shares of common stock were held in the issuer 401(k) Plan. These shares were converted into shares of MAA common stock at the Exchange Ratio.

6. Issuer outstanding stock options, if not yet vested became vested, and all Issuer stock options were converted at the Exchange Ratio into MAA fully vested stock options under the terms of each outstanding Issuer stock option. Cash was paid for fractional shares.

Remarks:

	/s/ Sherry W. Cohen, Power of Attorney	11/30/2016
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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