UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 28, 2011
LIBERTY PROPERTY TRUST
LIBERTY PROPERTY LIMITED PARTNERSHIP
(Exact name of registrant as specified in its charter)
Maryland | 1-13130 | 23-7768996 | ||
Pennsylvania | 1-13132 | 23-2766549 | ||
(State or other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
500 Chesterfield Parkway Malvern, PA | 19355 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code:(610) 648-1700
(Former name or former address if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
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Number | Number of RSUs | Number of RSUs | ||||||||||
Named Executive Officer | of Options(1) | in First Portion/FFO Portion(2) | in Second Portion/TSR Portion(3) | |||||||||
William P. Hankowsky | 68,668 | 12,685 | 12,685 | |||||||||
George J. Alburger, Jr. | 31,609 | 5,839 | 5,839 | |||||||||
Robert E. Fenza | 29,238 | 5,401 | 5,401 | |||||||||
James J. Bowes | 25,682 | 4,744 | 4,744 | |||||||||
Michael T. Hagan | 25,287 | 4,671 | 4,671 |
(1) | The options have an exercise price of $33.77, the closing price of the Common Shares on the New York Stock Exchange on February 28, 2011, the date of grant. |
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(2) | As described above, the RSUs constituting the First Portion are split into three equal pieces, corresponding to each of the three years in the relevant Award Period. One-third of the RSUs may be earned with respect to each year in the Award Period, but will be payable to the participant at the end of the Award Period. | |
(3) | As described above, the RSUs constituting the Second Portion are eligible to be earned on the basis of TSR for the full Award Period, using a performance schedule determined at the time of the award. The determination of whether the Second Portion is earned and payable shall be made at the end of the Award Period. |
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LIBERTY PROPERTY TRUST | ||||
By: | /s/ James J. Bowes | |||
James J. Bowes | ||||
Secretary and General Counsel | ||||
LIBERTY PROPERTY LIMITED PARTNERSHIP | ||||
By: | Liberty Property Trust, its sole General Partner | |||
By: | /s/ James J. Bowes | |||
James J. Bowes | ||||
Secretary and General Counsel | ||||
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