−Removed: Market for Registrant’s Common Equity, Related Stockholder Matters and
−Removed: Issuer Purchases of Equity Securities
+Added: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our Class A common shares are traded on the New York Stock Exchange (the “NYSE”) under the symbol “FPH.” Our shares have been publicly traded since May 10, 2017.
15 unchanged sentences
Under the Limited Partnership Agreement of the operating company, holders (the “Class A Unit Holders”) of Class A units of the operating company (“Class A Units”) may exchange their Class A Units for, at our option, either (1) Class A common shares on a one-for-one basis (subject to adjustment in the event of share splits, distributions of shares, warrants or share rights, specified extraordinary distributions and similar events), or (2) cash in an amount equal to the market value of such shares at the time of exchange.
−Removed: On December 12, 2019, December 13, 2019, and December 27, 2019, we issued 8,338, 16,676, and 16,676 Class A Common Shares, respectively, to certain Class A Unit Holders in exchange for an equal number of Class A Units after receiving notices of redemption from such Class A Unit Holders.
−Removed: These issuances were exempt from registration in reliance upon Section 4(a)(2) of the Securities Act of 1933, as amended, on the basis that no public offering was made.
−Removed: In connection with such exchanges, 8,338, 16,676, and 16,676 Class B common shares, respectively, held by such Class A Unit Holders automatically converted into a total of 12 Class A Common Shares, pursuant to our Second Amended and Restated Limited Liability Company Agreement.
−Removed: These issuances were exempt from registration in reliance upon Section 3(a)(9) of the Securities Act of 1933, as amended, on the basis that securities were exchanged by the issuer with existing security holders and no commission or other remuneration was paid or given for soliciting such exchange.
+Added: During the twelve months ended December 31, 2020, no redemption notices were received from Class A Unit Holders.
Selected Financial Data
−Removed: The following sets forth our selected consolidated financial data as of and for each of the years ended December 31, 2015 through 2019.
−Removed: We adopted Accounting Standards Update No.
−Removed: 2014-09, Revenue from Contracts with Customers (Topic 606) , effective January 1, 2018 on a modified retrospective basis.
−Removed: Financial results for the years ended December 31, 2019 and 2018 are presented in accordance with this new revenue recognition standard.
−Removed: Historical financial results for reporting periods prior to 2018 are presented in conformity with amounts previously disclosed under the prior revenue recognition standard, Accounting Standards Codification 605, Revenue Recognition .
−Removed: The information presented is based upon and should be read in conjunction with our consolidated financial statements and the related notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” which are included elsewhere in this annual report on Form 10-K.
−Removed: As a result of the formation transactions, our results of operations will not be comparable between periods that did not include the results of operations of the San Francisco Venture, the management company or our investment in the Great Park Venture prior to May 2, 2016 and those periods after May 2, 2016 that do include such results.
−Removed: Year Ended December 31,
−Removed: (In thousands, except per share amounts)
−Removed: RESULTS OF OPERATIONS:
−Removed: Land sales—related party
−Removed: Management services—related party
−Removed: Operating properties
−Removed: Total revenues
−Removed: COSTS AND EXPENSES:
−Removed: Management services
−Removed: Operating properties
−Removed: Selling, general, and administrative
−Removed: Management fees—related party
−Removed: Total costs and expenses
−Removed: OTHER INCOME:
−Removed: Adjustment to payable pursuant to tax receivable agreement
−Removed: Interest income
−Removed: Gain on settlement of contingent consideration—related party
−Removed: Miscellaneous
−Removed: Total other income
−Removed: EQUITY IN EARNINGS (LOSS) FROM UNCONSOLIDATED ENTITIES
−Removed: INCOME (LOSS) BEFORE INCOME TAX (PROVISION) BENEFIT
−Removed: INCOME TAX (PROVISION) BENEFIT
−Removed: NET INCOME (LOSS)
−Removed: LESS NET INCOME (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS
−Removed: NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY
−Removed: NET INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY PER CLASS A SHARE
−Removed: (In thousands)
−Removed: FINANCIAL POSITION:
−Removed: Cash and cash equivalents
−Removed: Marketable securities held to maturity
−Removed: Notes payable, net
−Removed: Total liabilities
−Removed: Total noncontrolling interests
−Removed: Total capital
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.