# EDGAR Filing Document

**Accession Number:** 0001637110
**File Stem:** 0000899243-23-007522
**Filing Date:** 2023-3
**Character Count:** 7287
**Document Hash:** 5b24a483ecc2090eedae24cc76673559
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000899243-23-007522.hdr.sgml**: 20230308

**ACCESSION NUMBER**: 0000899243-23-007522

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230306

**FILED AS OF DATE**: 20230308

**DATE AS OF CHANGE**: 20230308

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Ioannou Andrew M.
- **CENTRAL INDEX KEY:** 0001637110

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-06300
- **FILM NUMBER:** 23716150

**MAIL ADDRESS:**
- **STREET 1:** C/O PENN REAL ESTATE INVESTMENT TRUST
- **STREET 2:** THE BELLEVUE, 200 SOUTH BROAD STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19102
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PENNSYLVANIA REAL ESTATE INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000077281
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 236216339
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** ONE COMMERCE SQUARE
- **STREET 2:** 2005 MARKET STREET, SUITE 1000
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103
- **BUSINESS PHONE:** 2158750426

**MAIL ADDRESS:**
- **STREET 1:** ONE COMMERCE SQUARE
- **STREET 2:** 2005 MARKET STREET, SUITE 1000
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19103

### 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>Ioannou Andrew M.<br><sub>(Last) (First) (Middle)</sub><br>C/O PENN. REAL ESTATE INVESTMENT TRUST<br>2005 MARKET STREET, SUITE 1000<br><sub>(Street)</sub><br>PHILADELPHIA, PA 19103<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-06 | **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>_EVP - Finance and Acquisitions_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>PENNSYLVANIA REAL ESTATE INVESTMENT TRUST [ PRET ] | **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 |
| Shares of Beneficial Interest, par value $1.00 per share | 2023-03-06 |  | M |  | 5472<sup>(1)</sup> | A | <sup>(1)</sup> | 11850<sup>(1)</sup> | D |  |
| Shares of Beneficial Interest, par value $1.00 per share | 2023-03-06 |  | D |  | 5472<sup>(1)</sup> | D | 1.3088<sup>(3)</sup> | 6378 | D |  |

---

## 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 |
| Restricted Share Units | <sup>(1)</sup> | 2023-03-06 |  | M |  |  | 5472 | <sup>(2)</sup> | <sup>(2)</sup> | Shares of Beneficial Interest<sup>(1)</sup> | 5472 | <sup>(1)</sup> | 10942<sup>(2)</sup> | D |  |

---

### Footnotes:

(1) Consists of restricted share units ("RSUs") granted on March 4, 2022 pursuant to the issuer's 2022-2024 Equity Award Program (the "2022-2024 Program"). Each RSU represents a contingent right to receive one share of Beneficial Interest, par value $1.00 per share (a "Share"), of the issuer. The RSUs may be settled in Shares or cash in the discretion of the issuer's Compensation Committee. The Compensation Committee determined to settle the RSUs that vested on March 4, 2023 for cash. Because March 4, 2023 was a Saturday, the cash settlement amount was determined based on the March 3, 2023 and March 6, 2023 Share price. For purposes of this Form 4, the cash settlement of the vested RSUs has been presented as the conversion of the vested RSUs into Shares and the simultaneous disposition of Shares to the issuer for cash.

(2) The 2022-2024 Program RSU grant consisted of 16,414 RSUs (this reflects the adjusted RSU total following the reverse share split, effective as of June 16, 2022) granted on March 4, 2022, with the RSUs vesting in three equal annual installments beginning on March 4, 2023.

(3) Represents the average of the highest and lowest selling price of a Share on March 3, 2023 and March 6, 2023.

**Signature:** /s/ Andrew M. Ioannou  
**Date:** 2023-03-08

### 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.**