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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | |||
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1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security |
5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Phantom Stock (1) | 02/13/2025(2) | (3) | Common Stock | 2,606.17 | $ (4) | D | |
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| Park Grace H 80 PARK PLAZA NEWARK, NJ 08731 |
EVP and General Counsel | |||
| Isabel Ryan, as Attorney-in-Fact for Grace H Park | 09/24/2024 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | LTIP Restricted Stock Unit Grant. Phantom stock represents the share equivalent of amount deferred under the Equity Deferral Plan upon vesting. |
| (2) | The LTIP Restricted Stock Unit Grant has a 3-year graded vesting (1/3 per year) starting from the grant date. Date shown is the vesting of the first tranche of the award. |
| (3) | Phantom stock does not have a corresponding expiration date. |
| (4) | Phantom stock converts into common stock on a one-for-one basis upon vesting in three annual installments with the first vesting on February 13, 2025, the first anniversary of the grant date. The second tranche will vest on February 13, 2026 and third tranche will vest on February 13, 2027. |