Director David J. Neithercut filed a Form 4 with the SEC on September 11, 2026, disclosing a series of Operating Partnership Unit gift transactions in Vivmark Residential (NYSE:VMRK) dated September 9, 2026.

Key Highlights

  • Transaction code G (gift): All reported transactions on September 9, 2026 were gifts of Operating Partnership Units at a price of $0.
  • LLC to GRAT gifts: A limited liability company managed by Neithercut gifted 1,325 OP Units to a grantor retained annuity trust for his benefit, in two separate transactions.
  • GRAT to reporting person gifts: Two grantor retained annuity trusts transferred 1,322 and 977 OP Units, respectively, directly to the reporting person.
  • Direct beneficial ownership: Following the transactions, Neithercut directly holds 426,412 and 427,389 OP Units (reported on separate lines).
  • OP Unit conversion feature: According to the filing, OP Units are fully vested, transferable, and exchangeable for common shares of Vivmark Residential on a one-for-one basis, or at the company's option, for the cash value of such shares.
  • Previously Restricted Units: The filing notes that the OP Units reflected in the report are "previously reported Restricted Units which have automatically converted to OP Units per their terms."

Neithercut's OP Unit Gift Transactions Across LLCs and GRATs

According to the filing, David J. Neithercut, a director of Vivmark Residential (NYSE:VMRK), reported eight separate derivative security transactions, all coded "G" for gift and all carrying a price of $0. The transactions took place on September 9, 2026, and the Form 4 was signed by Samantha Thompson as attorney-in-fact on September 11, 2026.

The filing describes two distinct gift directions. In the first, a limited liability company for which Neithercut serves as manager transferred 1,325 OP Units to each of two grantor retained annuity trusts (GRATs) - one identified as "2020 DN GRAT" and one as "2020A DN GRAT" - for the benefit of the reporting person. In the second direction, each of those same GRATs transferred OP Units back to Neithercut directly: 1,322 units from the 2020 DN GRAT and 977 units from the 2020A DN GRAT. The filing states the underlying securities are Common Shares of Beneficial Interest, with each OP Unit corresponding to 1,325 or 1,322 or 977 shares depending on the transaction line.

Following all reported transactions, Neithercut's indirect beneficial ownership through the LLC stands at 86,745 and 85,420 OP Units (on separate lines), while GRAT-held balances are reported as 1,333, 11, 2,752, and 1,775 OP Units across the respective trust accounts. His direct holdings are listed as 426,412 and 427,389 OP Units. The filing notes that the OP Units do not expire and can be exchanged for common shares on a one-for-one basis or, at the company's option, for the cash value of such shares.

What Was Disclosed

Director David J. Neithercut reported gift transactions of Operating Partnership Units among an LLC he manages, grantor retained annuity trusts, and himself, all at $0 price, with the Form 4 filed for Vivmark Residential (NYSE:VMRK) on September 11, 2026.