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Filing Details

Accession Number:: 0001179110-12-000533
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2012-01-05 20:44:46
Reporting Period:: 2011-07-08

Filing Date:: 2012-01-05
Accepted Time:: 2012-01-05 20:44:46
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1287701	Gramercy Capital Corp	GKK	Real Estate Investment Trusts (6798)	061722127

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1448797	M. Roger Cozzi	420 Lexington Ave. New York NY 10170	Chief Executive Officer	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2011-07-08	200,000	$0.80	454,355	No	4	M	Direct
Common Stock	Acquisiton	2011-12-28	250,000	$0.00	704,355	No	4	M	Direct
Common Stock	Acquisiton	2011-12-30	100,000	$0.80	804,355	No	4	M	Direct
Common Stock	Disposition	2012-01-03	22,634	$2.52	781,721	No	4	S	Direct
Common Stock	Acquisiton	2012-01-05	47,179	$0.00	828,900	No	4	A	Direct

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

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Options (Right to Buy)	Disposition	2011-07-08	200,000	$0.00	200,000	$0.80
Common Stock	LTIP Units	Disposition	2011-12-28	250,000	$0.00	250,000	$0.00
Common Stock	Stock Options (Right to Buy)	Disposition	2011-12-30	100,000	$0.00	100,000	$0.80

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
100,000	2018-10-28	No	4	M	Direct
250,000		No	4	M	Direct
0	2018-10-28	No	4	M	Direct

Footnotes

Shares of Common Stock were issued upon conversion of units of limited partnership interest in GKK Capital LP ("GKK OP"), of which the Company is the general partner, issued as long term incentive compensation pursuant to the Company 's equity based compensatory programs. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of the holder, into a Class A Unit of limited partnership interest in GKK OP (a "Common Unit"). Each Common Unit acquired upon conversion of a LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of the Company 's Common Stock, except that the Company may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert LTIP Units into Common Units and redeem Common Units do not have expiration dates.
The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 22, 2010.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.50 to $2.5725, inclusive. The reporting person undertakes to provide to Gramercy Capital Corp. (the "Company"), any security holder of the Company 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.
47,179 shares of the grant are restricted.
The options, representing the right to buy a total of 300,000 shares, vested and became exercisable in three installments. 100,000 options vested on December 31, 2009, 100,000 options vested on December 31, 2010 and 100,000 options vested on December 30, 2011.
250,000 LTIP Units vested upon the satisfaction of certain vesting conditions relating to the settlement of the Company's Realty mortgage and mezzanine loans and 250,000 LTIP Units vest on June 30, 2012.