Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Issuer Purchase of Equity Securities during the third quarter of 2021:
−Removed: Remaining number of Depositary
+Added: Issuer Purchase of Equity Securities during the first quarter of 2022:
+Added: Remaining number
Depositary Receipts
−Removed: Receipts that may be purchased
−Removed: Average Price Paid
−Removed: Purchased as Part of Publicly Announced Plan
−Removed: Under the Plan (as Amended)
−Removed: July 1-31, 2021
−Removed: August 1-31, 2021
−Removed: September 1-30, 2021
+Added: of Depositary Receipts
+Added: Purchased as Part
+Added: that may be purchased
+Added: Under the Plan
+Added: Announced Plan
+Added: January 1-31, 2022
+Added: February 1-28, 2022
+Added: March 1-31, 2022
On August 20, 2007, NewReal, Inc., the General Partner authorized an equity repurchase program (“Repurchase Program”) under which the Partnership was permitted to purchase, over a period of twelve months, up to 300,000 Depositary Receipts (each of which is one-tenth of a Class A Unit).
1 unchanged sentence
On March 10, 2015, the General Partner authorized an increase in the Repurchase Program from 1,500,000 to 2,000,000 Depository Receipts and extended the Program for an additional five years from March 31, 2015 until March 31, 2020.
−Removed: On March 9, 2020, the General Partner extended the program for an additional five years from March 31, 2020 to March 31, 2025.The Repurchase Program requires the Partnership to repurchase a proportionate number of Class B Units and General Partner Units in connection with any repurchases of any Depositary Receipts by the Partnership based upon the 80%, 19% and 1% fixed distribution percentages of the holders of the Class A, Class B and General Partner Units under the Partnership’s Second Amended and Restated Contract of Limited Partnership.
+Added: On March 9, 2020, the General Partner extended the program for an additional five years from March 31, 2020 to March 31, 2025.
+Added: The Repurchase Program requires the Partnership to repurchase a proportionate number of Class B Units and General Partner Units in connection with any repurchases of any Depositary Receipts by the Partnership based upon the 80%, 19% and 1% fixed distribution percentages of the holders of the Class A, Class B and General Partner Units under the Partnership’s Second Amended and Restated Contract of Limited Partnership.
Repurchases of Depositary Receipts or Partnership Units pursuant to the Repurchase Program may be made by the Partnership from time to time in its sole discretion in open market transactions or in privately negotiated transactions.
−Removed: From August 20, 2007, through September 30, 2021, the Partnership has repurchased 1,428,437 Depositary Receipts at an average price of $28.43 per receipt (or $852.90 per underlying Class A Unit), 3,572 Class B Units and 188 General Partnership Units, both at an average price of $1,033.00 per Unit, totaling approximately $44,718,000 including brokerage fees paid by the Partnership.
−Removed: During the nine months ended September 30, 2021, the Partnership did not purchase any Depositary Receipts.
−Removed: With the recovery of the residential rental market, the Partnership expects to resume the purchase of depository receipts in the fourth quarter of 2021.
+Added: From August 20, 2007 through March 31, 2022, the Partnership has repurchased 1,448,321 Depositary Receipts at an average price of $29.18 per receipt (or $875.40 per underlying Class A Unit), 3,729 Class B Units and 196 General Partnership Units, both at an average price of $1,080.00 per Unit, totaling approximately $46,506,000 including brokerage fees paid by the Partnership .
+Added: During the three months ended March 31, 2022, the Partnership purchased a total of 14,132 Depositary Receipts.
+Added: The average price was $75.71 per receipt or $2,271.30 per unit.
+Added: The cost including commission was $1,070,321.
+Added: The Partnership was required to repurchase 111.88 Class B Units and 5.89 General Partnership units at a cost of $254,118 and $13,375 respectively.
Defaults Upon Senior Securities
2 unchanged sentences
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.