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Filing Details

Accession Number:: 0001193805-22-001280
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-09-19 09:00:39
Reporting Period:: 2022-09-14

Accepted Time:: 2022-09-19 09:00:39
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
77281	Pennsylvania Real Estate Investment Trust	PEI	Real Estate Investment Trusts (6798)	236216339

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1942640	Christopher Swann	C/O Penn. Real Estate Investment Trust 2005 Market Street, Suite 1000 Philadelphia PA 19103		Yes	No	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Shares Of Beneficial Interest, Par Value $1.00 Per Share	Disposition	2022-09-14	66	$3.74	0	No	4	S	Direct
Shares Of Beneficial Interest, Par Value $1.00 Per Share	Disposition	2022-09-14	12,666	$3.74	0	No	4	S	Indirect	Shared ownership with the Reporting Person's spouse
Shares Of Beneficial Interest, Par Value $1.00 Per Share	Acquisiton	2022-09-14	12,732	$4.09	67,322	No	4	P	Indirect	Owned by Cygnus Opportunity Fund, LLC
Series B Preferred Shares, Par Value $0.01 Per Share	Acquisiton	2022-09-14	11,342	$4.01	159,144	No	4	P	Indirect	Owned by Cygnus Property Fund V, LLC
Series B Preferred Shares, Par Value $0.01 Per Share	Disposition	2022-09-14	159,144	$3.25	0	No	4	S	Indirect	Owned by Cygnus Property Fund V, LLC
Series B Preferred Shares, Par Value $0.01 Per Share	Acquisiton	2022-09-14	126,465	$3.25	179,388	No	4	P	Indirect	Owned by Cygnus Property Fund VI, LLC
Series C Preferred Shares, Par Value $0.01 Per Share	Disposition	2022-09-14	52,000	$3.47	158,479	No	4	S	Indirect	Owned by Cygnus Property Fund V, LLC
Series D Preferred Shares, Par Value $0.01 Per Share	Disposition	2022-09-14	166,000	$2.95	0	No	4	S	Indirect	Owned by Cygnus Property Fund V, LLC
Series D Preferred Shares, Par Value $0.01 Per Share	Acquisiton	2022-09-14	145,518	$3.21	302,440	No	4	P	Indirect	Owned by Cygnus Property Fund VI, LLC
Series C Preferred Shares, Par Value $0.01 Per Share	Disposition	2022-09-15	158,479	$3.34	0	No	4	S	Indirect	Owned by Cygnus Property Fund V, LLC
Series C Preferred Shares, Par Value $0.01 Per Share	Acquisiton	2022-09-15	28,000	$3.35	86,750	No	4	P	Indirect	Owned by Cygnus Property Fund VI, LLC
Series C Preferred Shares, Par Value $0.01 Per Share	Acquisiton	2022-09-16	126,052	$3.20	212,802	No	4	P	Indirect	Owned by Cygnus Property Fund VI, LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	S	Indirect	Shared ownership with the Reporting Person's spouse
No	4	P	Indirect	Owned by Cygnus Opportunity Fund, LLC
No	4	P	Indirect	Owned by Cygnus Property Fund V, LLC
No	4	S	Indirect	Owned by Cygnus Property Fund V, LLC
No	4	P	Indirect	Owned by Cygnus Property Fund VI, LLC
No	4	S	Indirect	Owned by Cygnus Property Fund V, LLC
No	4	S	Indirect	Owned by Cygnus Property Fund V, LLC
No	4	P	Indirect	Owned by Cygnus Property Fund VI, LLC
No	4	S	Indirect	Owned by Cygnus Property Fund V, LLC
No	4	P	Indirect	Owned by Cygnus Property Fund VI, LLC
No	4	P	Indirect	Owned by Cygnus Property Fund VI, LLC

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Shares Of Beneficial Interest, Par Value $1.00 Per Share	42,021	Indirect	Owned by Cygnus Property Fund IV, LLC
Series B Preferred Shares, Par Value $0.01 Per Share	74,398	Indirect	Owned by Cygnus Opportunity Fund, LLC
Series B Preferred Shares, Par Value $0.01 Per Share	42,963	Indirect	Owned by Cygnus Property Fund IV, LLC
Series C Preferred Shares, Par Value $0.01 Per Share	111,416	Indirect	Owned by Cygnus Opportunity Fund, LLC
Series C Preferred Shares, Par Value $0.01 Per Share	74,879	Indirect	Owned by Cygnus Property Fund IV, LLC
Series D Preferred Shares, Par Value $0.01 Per Share	136,744	Indirect	Owned by Cygnus Opportunity Fund, LLC
Series D Preferred Shares, Par Value $0.01 Per Share	30,749	Indirect	Owned by Cygnus Property Fund IV, LLC

Footnotes

Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.7700 to $4.0900, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.5267 to $4.1533, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
Represents a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.2400 to $3.2500, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.2483 to $3.3667, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
Represents a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.3522 to $3.7500, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Represents a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.3002 to $3.0000, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.9900 to $3.6277, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
Represents a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.3108 to $3.3514, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.1700 to $3.2200, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
Mr. Swann may be deemed to indirectly beneficially own the shares reported herein that are held directly by Cygnus Opportunity Fund, LLC, a Delaware limited liability company ("Cygnus Opportunity"), Cygnus Property Fund IV, LLC, a Delaware limited liability company ("Cygnus IV"), Cygnus Property Fund V, LLC, a Delaware limited liability company ("Cygnus V"), and Cygnus Property Fund VI, LLC, a Delaware limited liability company ("Cygnus VI") by virtue of serving as the President and CEO of Cygnus Capital, Inc., a Wyoming corporation ("Cygnus"), the managing member of each of (i) Cygnus Capital Advisers, LLC, a Wyoming limited liability company ("Cygnus Capital"), which serves as the investment adviser of Cygnus Opportunity, (ii) Cygnus General Partners, LLC, a Wyoming limited liability company ("Cygnus GP"), which serves as the managing member of Cygnus Opportunity,
(continued from footnote 10) and (iii) Cygnus Capital Real Estate Advisors II, LLC, a Wyoming limited liability company ("Cygnus Property GP" and, together with Cygnus Opportunity, Cygnus IV, Cygnus V, Cygnus VI, Cygnus, Cygnus Capital and Cygnus GP, the "Cygnus Group"), which serves as the general partner and investment advisor of each of Cygnus IV, Cygnus V, and Cygnus VI. Mr. Swann disclaims any beneficial ownership of any and all of the Issuer's securities reported herein in excess of his actual pecuniary interest.