Filing Details

Accession Number:
0000919574-17-008238
Form Type:
4
Zero Holdings:
No
Publication Time:
2017-11-16 17:33:09
Reporting Period:
2017-11-14
Accepted Time:
2017-11-16 17:33:09
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1628063 Seritage Growth Properties SRG () 4
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1214344 R Bruce Berkowitz C/O Fairholme Capital Management, L.l.c.
4400 Biscayne Boulevard, 9Th Floor
Miami FL 33137
No No Yes No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Class A Common Shares, $0.01 Par Value Disposition 2017-11-14 200 $40.50 3,739,350 No 4 S Indirect See Footnote
Class A Common Shares, $0.01 Par Value Disposition 2017-11-14 138,732 $0.00 3,600,618 No 4 J Indirect See Footnote
Class A Common Shares, $0.01 Par Value Acquisiton 2017-11-14 138,732 $0.00 3,739,350 No 4 J Indirect See Footnote
Class A Common Shares, $0.01 Par Value Disposition 2017-11-14 39,020 $0.00 3,700,330 No 4 J Indirect See Footnote
Class A Common Shares, $0.01 Par Value Acquisiton 2017-11-14 39,020 $0.00 3,739,350 No 4 J Indirect See Footnote
Class A Common Shares, $0.01 Par Value Disposition 2017-11-15 120,700 $40.18 3,618,650 No 4 S Indirect See Footnote
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Indirect See Footnote
No 4 J Indirect See Footnote
No 4 J Indirect See Footnote
No 4 J Indirect See Footnote
No 4 J Indirect See Footnote
No 4 S Indirect See Footnote
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Class C Non-Voting Common Shares, $0.01 Par Value 3,501,281 Indirect See Footnote
Class C Non-Voting Common Shares, $0.01 Par Value 583,498 Direct
Footnotes
  1. The reported securities were directly owned by The Fairholme Allocation Fund, a series of Fairholme Funds, Inc. (the "Allocation Fund"), managed indirectly by Mr. Bruce R. Berkowitz (the "Reporting Person"). The Reporting Person disclaims beneficial ownership in the Allocation Fund except to the extent of his pecuniary interest, if any, therein.
  2. The securities may be deemed to be beneficially owned by the Reporting Person because he controls the sole member of a registered investment adviser, which may be deemed to have beneficial ownership of the securities because it serves as the investment manager to separate series of a registered investment company and managed accounts. The Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
  3. Represents a redemption in-kind of the reported securities from the Allocation Fund to account(s) managed indirectly by the Reporting Person. The securities are in the process of being converted to Class C Non-Voting Common Shares, $0.01 par value ("Class C Shares"), pursuant to the Exchange Agreement by and among Fairholme Capital Management, L.L.C and Seritage Growth Properties. The Reporting Person disclaims beneficial ownership in the Allocation Fund except to the extent of his pecuniary interest, if any, therein. The Reporting Person does not have any direct or indirect pecuniary interest in the managed account(s) because the Reporting Person (i) does not receive any incentive compensation from the managed account(s) and (ii) does not have a direct or indirect interest in the managed account(s).
  4. Represents a redemption in-kind of the reported securities from The Fairholme Fund, a series of Fairholme Funds, Inc. (the "Fairholme Fund") to account(s) managed indirectly by the Reporting Person. The securities are in the process of being converted to Class C Non-Voting Common Shares, $0.01 par value ("Class C Shares"), pursuant to the Exchange Agreement by and among Fairholme Capital Management, L.L.C and Seritage Growth Properties. The Reporting Person disclaims beneficial ownership in the Fairholme Fund except to the extent of his pecuniary interest, if any, therein. The Reporting Person does not have any direct or indirect pecuniary interest in the managed account(s) because the Reporting Person (i) does not receive any incentive compensation from the managed account(s) and (ii) does not have a direct or indirect interest in the managed account(s).