Ashish R. Parikh - Sep 15, 2021 Form 4 Insider Report for HERSHA HOSPITALITY TRUST (HT)

Role: Chief Financial Officer
Signature: /s/ Ashish R. Parikh
Stock symbol: HT
Transactions as of: Sep 15, 2021
Transactions value $: $0
Form type: 4
Date filed: 9/17/2021, 04:34 PM
Previous filing: Jun 3, 2021
Next filing: Jan 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HT	Class A Common Shares of Beneficial Interest	Conversion of derivative security		+10.8K	+1073.93%		11.8K	Sep 15, 2021	Direct	F1, F2
transaction	HT	Class A Common Shares of Beneficial Interest	Gift	$0	-10.8K	-91.48%	$0.00	1K	Sep 15, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	HT	LTIP Units	Conversion of derivative security	$0	-10.8K	-1.73%	$0.00	610K	Sep 15, 2021	Class A Common Shares of Beneficial Interest	10.8K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	10,750 of the Reporting Person's LTIP Units in Hersha Hospitality Limited Partnership (the "Operating Partnership") were exchanged for common units of limited partnership interest ("Common Units"), and then were immediately converted into an equal number of shares of the Issuer's Class A Common Shares.
F2	LTIP Units are a class of limited partnership units in the Operating Partnership, of which the Issuer is the general partner, and represent a profit interest in the Operating Partnership. Initially, the LTIP Units do not have full parity with the Operating Partnership's Common Units with respect to liquidating distributions. Upon the occurrence of certain "book-up" events described in the Operating Partnership's partnership agreement, the LTIP Units can over time achieve full parity with the Common Units for all purposes. If such parity is reached, vested LTIP Units are convertible into Common Units and, upon conversion and subject to the applicable holding period, may be redeemed for cash in an amount equal to the then fair market value of an equal number of the Issuer's common shares or converted into an equal number of the Issuer's common shares, as determined by the Issuer at its election.

Content

10,750 of the Reporting Person's LTIP Units in Hersha Hospitality Limited Partnership (the "Operating Partnership") were exchanged for common units of limited partnership interest ("Common Units"), and then were immediately converted into an equal number of shares of the Issuer's Class A Common Shares.

LTIP Units are a class of limited partnership units in the Operating Partnership, of which the Issuer is the general partner, and represent a profit interest in the Operating Partnership. Initially, the LTIP Units do not have full parity with the Operating Partnership's Common Units with respect to liquidating distributions. Upon the occurrence of certain "book-up" events described in the Operating Partnership's partnership agreement, the LTIP Units can over time achieve full parity with the Common Units for all purposes. If such parity is reached, vested LTIP Units are convertible into Common Units and, upon conversion and subject to the applicable holding period, may be redeemed for cash in an amount equal to the then fair market value of an equal number of the Issuer's common shares or converted into an equal number of the Issuer's common shares, as determined by the Issuer at its election.