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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1481832	Preferred Apartment Communities Inc	APTS	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1231790	M Daniel Dupree	Preferred Apartment Communities, Inc. 3284 Northside Parkway Nw, Suite 150 Atlanta GA 30327	Chief Investment Officer	Yes	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.01	Disposition	2017-03-14	9,244	$12.53	130,600	No	4	S	Direct
Common Stock, Par Value $0.01	Disposition	2017-03-15	756	$12.50	129,844	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	S	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, Par Value $0.01	43,265	Indirect	By NELL Partners, Inc.

Footnotes

The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.50 to $12.63, inclusive. The reporting person undertakes to provide to Preferred Apartment Communities, Inc., any security holder of Preferred Apartment Communities, Inc., 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 ranges set forth in this footnote.
John A. Williams, Leonard A. Silverstein and Daniel M. DuPree share joint voting and investment power over the shares held by NELL Partners, Inc. Mr. DuPree disclaims any economic interest in 36,775 of such shares, 69.4% of which are owned indirectly by the Nancy Ann Richardson Williams Children's Trust, formed on January 30, 1995, a trust created by Mr. Williams' spouse for the benefit of their children, and 30.6% of which are owned indirectly by Northside Partners Trust, formed on November 2, 2009, a trust created by Mr. Silverstein's spouse for the benefit of their children.