Andrew Sims - May 19, 2022 Form 4 Insider Report for Sotherly Hotels Inc. (SOHO)

Role
Chairman, Director
Signature
/s/ Andrew M. Sims
Stock symbol
SOHO
Transactions as of
May 19, 2022
Transactions value $
$0
Form type
4
Date filed
5/23/2022, 04:00 PM
Previous filing
Jan 24, 2022
Next filing
Aug 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SOHO Common Stock Conversion of derivative security +50K 50K May 19, 2022 By Jeanette I. Sims Revocable Trust F1
holding SOHO Common Stock 356K May 19, 2022 Direct
holding SOHO Common Stock 794K May 19, 2022 By AMS Family Partnership, R.L.L.P.
holding SOHO Common Stock 156K May 19, 2022 By spouse
holding SOHO Common Stock 39.3K May 19, 2022 By ESOP F2
holding SOHO 8.0% Series B Preferred Stock 1.5K May 19, 2022 Direct F3
holding SOHO 7.875% Series C Preferred Stock 1.5K May 19, 2022 Direct F4
holding SOHO 8.25% Series D Preferred Stock 1.5K May 19, 2022 Direct F5

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 SOHO Operating Partnership Units Conversion of derivative security $0 -50K -13.23% $0.00 328K May 19, 2022 Common Stock 50K By Jeanette I. Sims Revocable Trust F1, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person redeemed 50,000 units of limited partnership interest ("Units") of Sotherly Hotels LP, of which the issuer is the general partner. Units are redeemable for an equal number of shares of the issuer's Common Stock or, at the election of the issuer, cash equal to the fair market value of such shares. The issuer elected to redeem the reporting person's Units with Common Stock.
F2 Reflects allocations under the issuer's Employee Stock Ownership Plan.
F3 The full security title is 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock.
F4 The full security title is 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock.
F5 The full security title is 8.25% Series D Cumulative Redeemable Perpetual Preferred Stock.
F6 Operating Partnership Units in Sotherly Hotels LP, Sotherly Hotels Inc.'s operating partnership.
F7 There is no expiration to the redemption right.