American Residential Properties (ARPI) Form 4 American Residential Properties / C. Jay Byce 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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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^*

Byce C. Jay

(Last) (First) (Middle)

7047 E GREENWAY PARKWAY

SUITE 350

(Street)

SCOTTSDALE AZ 85254

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
American Residential Properties, Inc. [ ARPI ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
SVP, Investments

3. Date of Earliest Transaction (Month/Day/Year)
04/24/2015

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

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
LTIP Units(1)	(2)	04/24/2015(3)		A		4,810		(2)	(2)	Common Stock	4,810	$0.00	13,804	D

Explanation of Responses:

1. Represent restricted units of limited partnership interest ("LTIP Units") in American Residential Properties OP, L.P. (the "OP"), the operating partnership of American Residential Properties, Inc. (the "Issuer"). The LTIP Units will vest ratably and become nonforfeitable, subject to the reporting person's continued service as an employee of the Issuer, on January 1, 2016, 2017 and 2018. The LTIP Units were issued pursuant to the Issuer's 2012 Equity Incentive Plan and have no expiration date.

2. As described in the OP's partnership agreement, vested LTIP Units, after achieving parity with Common Units of the OP, may be exchanged at any time for cash or, at the election of the Issuer, for shares of Common Stock of the Issuer on a one-for-one basis. LTIP Units have no expiration date.

3. Awarded pursuant to an LTIP Unit time-based vesting agreement (2015) entered into on April 24, 2015, the form of which was filed as Exhibit 10.1 to the Issuer's Form 8-K filed on April 17, 2015.

Remarks:

	/s/ Patricia B. Dietz, Attorney-in-Fact	04/24/2015
	** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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