What changed in this filing

/stocks — the workspaceLOADING

Item 2. Unregistered Sales of Equity Securities

2021-05-17 compared with 2020-11-02 · 37 added, 33 removed, 39 unchanged (64% of the section changed)

4 unchanged sentences

Aimco may also issue shares of Common Stock in exchange for limited partnership interests in consolidated real estate partnerships.

During the three months ended September 30, 2020, Aimco did not issue any shares of Common Stock in exchange for OP Units in these transactions.

During the three months ended March 31, 2021, Aimco did not issue any shares of Common Stock in exchange for OP Units in these transactions.

Repurchases of Equity Securities

There were no repurchases by Aimco of its common equity securities during the three months ended September 30, 2020.

There were no repurchases by Aimco of its common equity securities during the three months ended March 31, 2021.

Aimco’s Board of Directors has, from time to time, authorized Aimco to repurchase shares of its outstanding Common Stock.

As of September 30, 2020, Aimco was authorized to repurchase approximately 10.4 million shares.

As of March 31, 2021, Aimco was authorized to repurchase approximately #VALUE!

million shares.

This authorization has no expiration date.

These repurchases may be made from time to time in the open market or in privately negotiated transactions.

The Aimco Operating Partnership

Aimco Operating Partnership

Unregistered Sales of Equity Securities

The Aimco Operating Partnership did not issue any unregistered OP units during the three months ended September 30, 2020 .

Aimco Operating Partnership did not issue any unregistered OP units during the three months ended March 31, 2021 .

Repurchases of Equity Securities

The 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).

During the three months ended September 30, 2020, no common OP Units were redeemed in exchange for shares of Common Stock.

The following table summarizes the Aimco Operating Partnership’s repurchases, or redemptions in exchange for cash, of common OP Units for the three months ended September 30, 2020.

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).

During the three months ended March 31, 2021, no common OP Units were redeemed in exchange for shares of Common Stock.

The following table summarizes Aimco Operating Partnership’s repurchases, or redemptions in exchange for cash, of common OP Units for the three months ended March 31, 2021.

Fiscal period

7 unchanged sentences

Plans or Programs (1)

July 1, 2020 ‒ July 31, 2020

August 1, 2020 ‒ August 31, 2020

September 1, 2020 ‒ September 30, 2020

The terms of the Aimco Operating Partnership’s Partnership Agreement do not provide for a maximum number of units that may be repurchased, and other than the express terms of its Partnership Agreement, the Aimco Operating Partnership has no publicly announced plans or programs of repurchase.

However, for Aimco to repurchase shares of its Common Stock, the Aimco Operating Partnership must make a concurrent repurchase of its common partnership units held by Aimco at a price per unit that is equal to the price per share Aimco pays for its Common Stock.

Dividend and Distribution Payment s

January 1, 2021 ‒ January 31, 2021

February 1, 2021 ‒ February 28, 2021

March 1, 2021 ‒ March 31, 2021

The terms of Aimco Operating Partnership’s Partnership Agreement do not provide for a maximum number of units that may be repurchased, and other than the express terms of its Partnership Agreement, Aimco Operating Partnership has no publicly announced plans or programs of repurchase.

However, for Aimco to repurchase shares of its Common Stock, Aimco Operating Partnership must make a concurrent repurchase of its common partnership units held by Aimco at a price per unit that is equal to the price per share Aimco pays for its Common Stock.

Dividend and Distribution Payments

As a REIT, Aimco is required to distribute annually to holders of its Common Stock at least 90% 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.

Our revolving credit facility includes customary covenants, including a restriction on dividends and distributions and other restricted payments, but permits dividends and distributions during any four consecutive fiscal quarters in an aggregate amount of up to 95% of Aimco’s FFO for such period, subject to certain non-cash adjustments, or such amount as may be necessary to maintain Aimco’s REIT status and avoid the payment of federal income or excise tax.

Aimco’s Board of Directors targets a dividend payout ratio between 65% and 70% of AFFO.

Aimco’s Board of Directors determines and declares its dividends.

In making a dividend determination, Aimco’s Board of Directors considers a variety of factors, including REIT distribution requirements;

current market conditions;

liquidity needs;

and other uses of cash, such as deleveraging and accretive investment activities.

Aimco’s Board of Directors has not declared a dividend payment, nor have they set the expectation for any future regular dividend payments.

The following exhibits are filed with this report:

1 unchanged sentence

Amended and Restated Bylaws (Exhibit 3.1 to Aimco’s Current Report on Form 8-K dated January 26, 2016, is incorporated herein by this reference)

Articles Supplementary of Apartment Investment Management Company (Exhibit 3.1 to Aimco’s Current Report on Form 8-K, dated December 15, 2020, is incorporated herein by this reference)

Amended and Restated Bylaws (Exhibit 3.2 to Aimco’s Current Report on Form 8-K, dated December 15, 2020, is incorporated herein by this reference)

Description of Aimco’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934.

(Exhibit 4.1 to Aimco’s Annual Report on Form 10-K dated February 24, 2020, is incorporated herein by this reference)

Fifth Amended and Restated Agreement of Limited Partnership of the Aimco Operating Partnership, dated as of July 29, 1994, as amended and restated as of April 8, 2019 (Exhibit 10.1 to Aimco’s Current Report on Form 8-K dated April 5, 2019, is incorporated herein by this reference)

Fifth Amended and Restated Agreement of Limited Partnership of Aimco Operating Partnership, dated as of July 29, 1994, as amended and restated as of April 8, 2019 (Exhibit 10.1 to Aimco’s Current Report on Form 8-K dated April 5, 2019, is incorporated herein by this reference)

Master Lease Agreement, dated as of December 15, 2020 (effective January 1, 2021), by and between AIMCO 50 Rogers Street, LLC and Prism Lessee, LLC (Exhibit 10.5 to Aimco’s Current Report on Form 8-K, dated December 15, 2020, is incorporated herein by this reference)

Master Lease Agreement, dated as of December 15, 2020 (effective January 1, 2021), by and between MCZ/Centrum Flamingo II, L.L.C.

and Flamingo North Lessee, LLC (Exhibit 10.7 to Aimco’s Current Report on Form 8-K, dated December 15, 2020, is incorporated herein by this reference)

Master Lease Agreement, dated as of December 15, 2020 (effective January 1, 2021), by and between AIMCO Leahy Square Apartments, LLC and 707 Leahy Lessee, LLC (Exhibit 10.8 to Aimco’s Current Report on Form 8-K, dated December 15, 2020, is incorporated herein by this reference)

Certification of Chief Executive Officer pursuant to Securities Exchange Act Rules 13a-14(a)/15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 – Aimco

Certification of Chief Financial Officer pursuant to Securities Exchange Act Rules 13a-14(a)/15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 – Aimco

Certification of Chief Executive Officer pursuant to Securities Exchange Act Rules 13a-14(a)/15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 – the Aimco Operating Partnership

Certification of Chief Financial Officer pursuant to Securities Exchange Act Rules 13a-14(a)/15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 – the Aimco Operating Partnership

Certifications of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.

1 unchanged sentence

Certifications of Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.

Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 – the Aimco Operating Partnership

The following materials from Aimco’s and the Aimco Operating Partnership’s combined Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2020, formatted in iXBRL (Inline Extensible Business Reporting Language):

Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 – Aimco Operating Partnership

The following materials from Aimco’s and Aimco Operating Partnership’s combined Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2021, formatted in iXBRL (Inline Extensible Business Reporting Language):

(i) condensed consolidated balance sheets;

(ii) condensed consolidated statements of operations;

(iii) condensed consolidated statements of comprehensive income;

(iv) condensed consolidated statements of equity and partners’ capital;

(v) condensed consolidated statements of cash flows;

and (vi) notes to condensed consolidated financial statements.

(iii) condensed consolidated statements of equity and partners’ capital;

(iv) condensed consolidated statements of cash flows;

and (v) notes to condensed consolidated financial statements.

Cover Page Interactive Data File (embedded within the Inline XBRL document).

Schedules and supplemental materials to the exhibits have been omitted but will be provided to the Securities and Exchange Commission upon request.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

1 unchanged sentence

MANAGEMENT COMPANY

/s/ Paul Beldin

Executive Vice President and Chief Financial Officer

(duly authorized officer and principal financial officer)

AIMCO PROPERTIES, L.P.

AIMCO-GP, Inc., its general partner

/s/ Paul Beldin

AIMCO OP L.P.

Aimco OP GP, LLC, its General Partner

Executive Vice President and Chief Financial Officer

(duly authorized officer and principal financial officer)

October 30, 2020

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.

What changed 10-Q

Item 2. Unregistered Sales of Equity Securities