Steadfast Apartment REIT III Form 4 Steadfast Apartment REIT III / Stephen R. Bowie 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^*

Bowie Stephen R.

(Last) (First) (Middle)

18100 VON KARMAN AVENUE, SUITE 500

(Street)

IRVINE CA 92612

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Steadfast Apartment REIT III, Inc. [ NONE ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/06/2020

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
Class A Common Stock	03/06/2020		D		1,187.13	D	(1)	0	D
Class A Common Stock	03/06/2020		D		6,530.16	D	(1)	0(2)	I	By Stephen Bowie Family Trust(2)
Class A Common Stock	03/06/2020		D		1,187.13	D	(1)	0(3)	I	By Spouse(3)

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

Explanation of Responses:

1. Reflects the disposition of shares of issuer's common stock in connection with the merger (the "Merger") of the issuer with and into SIII Subsidiary, LLC, a wholly-owned subsidiary of Steadfast Apartment REIT, Inc. ("STAR"). In the Merger, each share of issuer's common stock, par value $0.01 per share ("STAR III Common Stock"), was converted into the right to receive 1.430 shares of Common Stock of STAR ("STAR Common Stock"), par value $0.01 per share. Pursuant to the agreement and plan of merger governing the Merger, the parties thereto agreed that the current value of the 1.430 shares of STAR Common Stock to be received per STAR III Common Stock is equivalent to $22.651, which is based on STAR's most recently estimated per share net asset value per share of $15.84.

2. In connection with the Merger, Stephen Bowie Family Trust disposed of 6,530.16 shares of STAR III Common Stock. As of the date of completion of the Merger, the Reporting Person did not beneficially own any shares of STAR III Common Stock. The Reporting Person disclaims beneficial ownership of the shares of STAR III Common Stock held by Stephen Bowie Family Trust.

3. In connection with the Merger, the Reporting Person's spouse, disposed of 1,187.13 shares of STAR III Common Stock. As of the date of completion of the Merger, the Reporting Person did not beneficially own any shares of STAR III Common Stock. The Reporting Person disclaims beneficial ownership of the shares of STAR III Common Stock held by the Reporting Person's spouse.

Remarks:

	/s/ Ana Marie del Rio as Attorney-In-Fact for Stephen R. Bowie	03/06/2020
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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