Anna Malhari - Jun 10, 2024 Form 4 Insider Report for Veris Residential, Inc. (VRE)

Role: EVP & CHIEF OPERATING OFFICER
Signature: /s/ Anna Malhari
Stock symbol: VRE
Transactions as of: Jun 10, 2024
Transactions value $: -$25,770
Form type: 4
Date filed: 6/12/2024, 07:00 PM
Previous filing: Apr 24, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VRE	Common Stock, $0.01 par value	Options Exercise		+962	+1.41%		69.4K	Jun 10, 2024	Direct	F1
transaction	VRE	Common Stock, $0.01 par value	Options Exercise		+2.82K	+4.07%		72.2K	Jun 10, 2024	Direct	F2
transaction	VRE	Common Stock, $0.01 par value	Tax liability	-$25.8K	-1.71K	-2.37%	$15.07	70.5K	Jun 10, 2024	Direct	F3

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	VRE	Performance Vesting Restricted Stock Units	Options Exercise		-5.58K	-100%		0	Jun 10, 2024	Common Stock, $0.01 par value	5.58K	$0.00	Direct	F1, F4
transaction	VRE	Outperformance Vesting Restricted Stock Units	Options Exercise		-2.82K	-100%		0	Jun 10, 2024	Common Stock, $0.01 par value	2.82K	$0.00	Direct	F2, F5

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

Explanation of Responses:

Id	Content
F1	On June 10, 2024, the reporting person vested in 962 performance vesting restricted stock units and (each, a "PVRSU") and forfeited 4,274 PVRSUs that did not vest at the end of the applicable three year performance period. Each PVRSU represented a contingent right to receive one share of common stock, $0.01 par value (the "Common Stock") of Veris Residential, Inc. (the "Company').
F2	On June 10, 2024, the reporting person vested in 2,823 outperformance vesting restricted stock units and (each, an "OPVRSU") that vested based upon performance criteria achieved as of December 31, 2023. Each OPVRSU represented a contingent right to receive one share of the Company's Common Stock.
F3	Forfeiture of shares for net share settlement of taxes on shares issued upon vesting of time vesting restricted stock units, PVRSUs and OPVRSUs.
F4	Seventy-five percent (75%) of the PVRSUs were eligible to vest over a three year period ended June 10, 2024 based on the attainment of absolute total stockholder return ("TSR") metrics by the Company. The remaining twenty-five percent (25%) of the PVRSUs were eligible to vest over a three year period ended June 10, 2024 based on the Company's TSR relative to the TSR of a select group of twenty-four (24) peer REITs over the same three year performance period.
F5	Each OPVRSU was eligible to vest on June 10, 2024 from 0% to 100% based on the attainment of certain levels of adjusted funds from operations per share for the Company's fiscal year ending December 31, 2023.