# EDGAR Filing Document

**Accession Number:** 0001605607
**File Stem:** 0000899243-23-002863
**Filing Date:** 2023-1
**Character Count:** 8293
**Document Hash:** 9713c8dfd67dd84e686bec419bedf823
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000899243-23-002863.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0000899243-23-002863

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230125

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Paes Wilbur N.
- **CENTRAL INDEX KEY:** 0001623530

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36746
- **FILM NUMBER:** 23563805

**MAIL ADDRESS:**
- **STREET 1:** PARAMOUNT GROUP, INC.
- **STREET 2:** 1633 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Paramount Group, Inc.
- **CENTRAL INDEX KEY:** 0001605607
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 320439307
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1633 BROADWAY, SUITE 1801
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-237-3100

**MAIL ADDRESS:**
- **STREET 1:** 1633 BROADWAY, SUITE 1801
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Paes Wilbur N.<br><sub>(Last) (First) (Middle)</sub><br>C/O PARAMOUNT GROUP, INC.<br>1633 BROADWAY, SUITE 1801<br><sub>(Street)</sub><br>NEW YORK, NY 10019<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-01-25 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_COO,CFO and Treasurer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Paramount Group, Inc. [ PGRE ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| LTIP Units<sup>(1)</sup> | <sup>(2)</sup> | 2023-01-25 |  | A |  | 105449 |  | <sup>(1)(2)</sup> | <sup>(2)</sup> | Common Stock | 105449 | $0.00 | 105449 | D |  |
| AOLTIP Units<sup>(3)(4)</sup> | $6.17 | 2023-01-25 |  | A |  | 328530 |  | <sup>(3)(4)</sup> | 2030-01-25 | Common Stock | 328530<sup>(3)(4)</sup> | $0.00 | 328530 | D |  |
| LTIP Units<sup>(5)</sup> | <sup>(2)</sup> | 2023-01-25 |  | A |  | 70564 |  | <sup>(2)(5)</sup> | <sup>(2)</sup> | Common Stock | 70564 | $0.00 | 70564 | D |  |

---

### Footnotes:

(1) LTIP Units issued pursuant to the Issuer's Amended and Restated 2014 Equity Incentive Plan. The LTIP Units vest in four equal installments on each of February 15, 2024, 2025, 2026 and 2027, subject to continued employment.

(2) Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit will be converted automatically into a common unit of limited partnership interest ("OP Unit") in Paramount Group Operating Partnership LP (the "Partnership"). Each OP Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock. Such OP Units are generally not redeemable without the consent of the Issuer until two years from the date of the grant. The conversion feature of vested LTIP Units and the redemption rights for OP Units do not have expiration dates.

(3) AOLTIP Units issued pursuant to the Issuer's Amended and Restated 2014 Equity Incentive Plan. The AOLTIP Units vest in four equal installments on each of February 15, 2024, 2025, 2026 and 2027, subject to continued employment.

(4) Each vested AOLTIP Unit may be converted, at the election of the holder, into a number of OP Units in the Partnership, determined by the increase in value of a share of the Issuer's common stock at the time of the conversion over its exercise price. Each OP Unit acquired upon conversion of a vested AOLTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of one share of the Issuer's common stock, except that the Issuer may, at its election, acquire each OP Unit so presented for one share of common stock. AOLTIP Units and the OP Units into which they may be converted generally may not be disposed of without the consent of the Issuer until two years from the date of the grant of the AOLTIP Units. The redemption right for OP Units does not have an expiration date.

(5) LTIP Units earned upon the achievement of the performance hurdles pursuant to the 2020 Performance Program. Of the 70,564 LTIP Units, 35,282 LTIP Units vested on January 25, 2023 and the remaining 35,282 LTIP Units will vest on December 31, 2023.

**Signature:** /s/ Gage Johnson as attorney-in-fact for Wilbur N. Paes  
**Date:** 2023-01-27

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**