4 unchanged sentences
Aimco may also issue shares of common stock in exchange for limited partnership interests in consolidated real estate partnerships.
−Removed: During the three months ended June 30, 2022, Aimco issued approximately 16,000 shares of common stock in exchange for OP Units in these transactions.
+Added: During the three months ended September 30, 2022, Aimco issued approximately 26,000 shares of common stock in exchange for OP Units in these transactions.
Such shares were issued in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended.
1 unchanged sentence
Aimco’s Board has, from time to time, authorized Aimco to repurchase shares of its outstanding common stock.
−Removed: As of December 31, 2021, Aimco was authorized to repurchase approximately 10.4 million shares.
+Added: As of September 30, 2022, Aimco was authorized to repurchase up to 14.9 million shares of Aimco's outstanding common stock, subject
+Added: to certain customary limitations, which may be made from time to time in the open market or in privately negotiated transactions.
This authorization has no expiration date.
−Removed: These repurchases may be made from time to time in the open market or in privately negotiated transactions.
−Removed: In January 2022, we repurchased 202,400 shares of Aimco Class A common stock at a weighted-average price of $6.49 per share.
−Removed: During the quarter ended June 30, 2022, we repurchased an additional 539,764 shares at a weighted-average price of $5.73 per share.
−Removed: As of June 30, 2022, up to 9.7 million shares remained available under the share repurchase authorization.
−Removed: On July 27, 2022, Aimco's Board replaced all prior share repurchase authorizations with a new authorization to repurchase up to 15.0 million shares of Aimco's outstanding common stock, subject to certain customary limitations, which may be made from time to time in the open market or in privately negotiated transactions.
+Added: During the three months ended September 30, 2022, we repurchased 73,444 shares of Aimco Class A common stock at a weighted-average price of $7.16 per share.
+Added: During the nine months ended September 30, 2022, we repurchased 815,608 shares of our common stock at a weighted-average price of $6.06 per share.
Aimco Operating Partnership
Unregistered Sales of Equity Securities
−Removed: Aimco Operating Partnership did not issue any unregistered OP Units during the three months ended June 30, 2022.
+Added: Aimco Operating Partnership did not issue any unregistered OP Units during the three months ended September 30, 2022.
Repurchases of Equity Securities
Aimco Operating Partnership’s Partnership Agreement generally provides that after holding common OP Units for one year, limited partners other than Aimco have the right to redeem their common OP Units for cash or, at our election, shares of Aimco Common Stock on a one-for-one basis (subject to customary antidilution adjustments).
−Removed: During the three months ended June 30, 2022, approximately 16,000 common OP Units were redeemed in exchange for shares of Common Stock.
−Removed: During the same period, approximately 1,000 common OP Units were redeemed in exchange for cash at an average price of $7.15.
+Added: During the three months ended September 30, 2022, approximately 26,000 common OP Units were redeemed in exchange for shares of Common Stock.
+Added: During the same period, approximately 12,000 common OP Units were redeemed in exchange for cash at an average price per unit of $6.57.
Dividend and Distribution Payments
−Removed: As a REIT, Aimco is required to distribute annually to holders of its Common Stock at least 90.0% of its “real estate investment trust taxable income,”
+Added: As a REIT, Aimco is required to distribute annually to holders of shares of its Common Stock at least 90.0% of its “real estate investment trust taxable income,”
which, as defined by the Code and United States Department of Treasury regulations, is generally equivalent to net taxable ordinary income.
4 unchanged sentences
and other uses of cash, such as deleveraging and accretive investment activities.
−Removed: On July 27, 2022, the Aimco Board declared a special cash dividend of $0.02 per share, payable on September 30, 2022, to shareholders of record on September 14, 2022.
+Added: On September 30, 2022, we paid a special cash dividend of $0.02 per share to shareholders of record on September 14, 2022.
The following exhibits are filed with this report:
27 unchanged sentences
Aimco Operating Partnership
−Removed: The following materials from Aimco’s and Aimco Operating Partnership’s combined Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2022, formatted in iXBRL (Inline Extensible Business Reporting Language):
+Added: The following materials from Aimco’s and Aimco Operating Partnership’s combined Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022, formatted in iXBRL (Inline Extensible Business Reporting Language):
(i) condensed consolidated balance sheets;
11 unchanged sentences
Executive Vice President and Chief Financial Officer
−Removed: August 4, 2022
+Added: November 7, 2022
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.