<SEC-DOCUMENT>0001299933-14-000194.txt : 20140206
<SEC-HEADER>0001299933-14-000194.hdr.sgml : 20140206
<ACCEPTANCE-DATETIME>20140206161627
ACCESSION NUMBER:		0001299933-14-000194
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140131
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140206
DATE AS OF CHANGE:		20140206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INDEPENDENCE REALTY TRUST, INC
		CENTRAL INDEX KEY:			0001466085
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				264567130
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36041
		FILM NUMBER:		14580347

	BUSINESS ADDRESS:	
		STREET 1:		CIRA CENTRE
		STREET 2:		2929 ARCH ST. 17TH FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19104
		BUSINESS PHONE:		2152439000

	MAIL ADDRESS:	
		STREET 1:		CIRA CENTRE
		STREET 2:		2929 ARCH ST. 17TH FLOOR
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDEPENDENCE REALTY TRUST INC
		DATE OF NAME CHANGE:	20110211

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EMPIRE AMERICAN REALTY TRUST INC
		DATE OF NAME CHANGE:	20090610
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_49256.htm
<DESCRIPTION>LIVE FILING
<TEXT>
<!-- CoverPageHeader start -->
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 3.2//EN">
<HTML>
<HEAD>
<TITLE> Independence Realty Trust, Inc. (Form: 8-K) </TITLE>
</HEAD>
<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">
<!-- Comment1 -->
<A NAME="DOCUMENT_TOP">&nbsp;</A>
<P>
<!-- CoverPageHeader end --><!-- CoverPageTitle START -->
<A NAME="DOCUMENT_TOP">&nbsp;</A>
<HR NOSHADE>
<P>
<P ALIGN="CENTER">
<FONT SIZE="4">
		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
</FONT>
<BR>
<FONT SIZE="2">
	WASHINGTON, D.C. 20549
</FONT>
<P ALIGN="CENTER">
<FONT SIZE="5">
	FORM 8-K
</FONT>
<FONT SIZE="2">

</FONT>
</P>
<P ALIGN="CENTER">
<FONT SIZE="3">
	CURRENT REPORT
</FONT>
</P>
<P ALIGN="CENTER">
<FONT SIZE="2">
	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
</FONT>
</P>
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
<TD WIDTH="51%">
	&nbsp;
</TD>
<TD WIDTH="5%">
	&nbsp;
</TD>
<TD WIDTH="44%">
	&nbsp;
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	Date of Report (Date of Earliest Event Reported):
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	January 31, 2014
</FONT>
</TD>
</TR>
</TABLE>
<BR>
</CENTER>
<!-- CoverPageTitle END --><!-- CoverPageRegistrant START -->
<P ALIGN="CENTER"><!-- -->
<FONT SIZE="6">
	Independence Realty Trust, Inc.
</FONT>
<FONT SIZE="2">
<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
</FONT>
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
<TD WIDTH="33%">
	&nbsp;
</TD>
<TD WIDTH="34%">
	&nbsp;
</TD>
<TD WIDTH="33%">
	&nbsp;
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	Maryland
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	001-36041
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	26-4567130
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
_____________________<BR>
	(State or other jurisdiction
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
_____________<BR>
	(Commission
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
______________<BR>
	(I.R.S. Employer
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	of incorporation)
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	File Number)
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	Identification No.)
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	Cira Centre, 2929 Arch Street, 17th Floor, Philadelphia, Pennsylvania
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	19104
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
_________________________________<BR>
	(Address of principal executive offices)
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
___________<BR>
	(Zip Code)
</FONT>
</TD>
</TR>
</TABLE>
</CENTER>
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="100%">

<TR VALIGN="BOTTOM">
<TD WIDTH="51%">
	&nbsp;
</TD>
<TD WIDTH="5%">
	&nbsp;
</TD>
<TD WIDTH="44%">
	&nbsp;
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	Registrant&#146;s telephone number, including area code:
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="CENTER" VALIGN="TOP">
<FONT SIZE="2">
	(215) 243-9000
</FONT>
</TD>
</TR>
</TABLE>
</CENTER>
<P ALIGN="CENTER">
<FONT SIZE="2">
	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
</FONT>
<P ALIGN="CENTER">
<FONT SIZE="2">
	&nbsp;
</FONT>
<!-- CoverPageRegistrant END --><P><FONT SIZE="2">
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
</P>
<P><FONT SIZE="2">
[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
</P></FONT><!-- PageBreak START -->
<P>
<HR NOSHADE>
<DIV ALIGN="LEFT" STYLE="PAGE-BREAK-BEFORE:ALWAYS">
<A HREF="#DOCUMENT_TOP">
<U>
<B>
<FONT SIZE="2">Top of the Form</FONT>
</B>
</U>
</A>
</DIV>
<!-- PageBreak END --><!-- Item START -->
<P ALIGN="LEFT">
<FONT SIZE="2">
<B>
	Item 2.01 Completion of Acquisition or Disposition of Assets.
</B>
</FONT>
</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
On January 31, 2014, or the closing date, Independence Realty Trust, Inc., or IRT, through its wholly-owned subsidiary, IRT Eagle Ridge Apartments Owner, LLC, or IRT Owner, acquired a fee simple interest in a property known as The Reserve at Eagle Ridge located in Waukegan, Illinois, or the property.  The property is a 370 apartment unit-community consisting of six studios, 130 one bedroom, one bathroom apartments, 156 two bedroom, one bathroom apartments and 78 two bedroom, two bathroom apartments with an average unit size of 817 square feet. The property was constructed in two phases in 2001 and 2004 and the last major renovation of the property was completed in 2008. As of December 31, 2013, the occupancy of the property was 93%.   <br><br>IRT Owner acquired the property from an unaffiliated third party, JRC/CSE Eagle Ridge JV, LLC, for a purchase price of $29.0 million.   IRT Owner paid the purchase price for the property with a portion of the net proceeds of IRT&#x2019;s offering of its shares of common stock pursuant to its Registration Statements Nos. 333-192403 and 333-193527 filed with the Securities and Exchange Commission.  On the closing date, IRT Owner and Jupiter Communities, LLC, d/b/a RAIT Residential, IRT&#x2019;s affiliate, entered into a property management agreement pursuant to which RAIT Residential will manage the property pursuant to terms similar to those applicable to RAIT Residential&#x2019;s management of IRT&#x2019;s other multifamily properties. <br>
</FONT>
</P>
<!-- Item END -->
<BR><BR><BR><BR><!-- Item START -->
<P ALIGN="LEFT">
<FONT SIZE="2">
<B>
	Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
</B>
</FONT>
</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
On January 31, 2014, the compensation committee of the board of directors of IRT adopted the following forms to evidence grants made on January 31, 2014 pursuant to the Independence Realty Trust, Inc. Long Term Incentive Plan, or the plan, to persons affiliated with IRT&#x2019;s advisor, including IRT&#x2019;s chief executive officer and chief financial officer: <br><br>&#x2022; 	a Form of Stock Appreciation Rights Award Certificate, or the SARs award form; and <br><br>&#x2022; 	a Form of Restricted Stock Award Certificate, or the restricted stock award form. <br><br>The SARs award form sets forth the vesting, exercise, settlement and other terms of stock appreciation rights awards granted pursuant to the plan. The restricted stock award form sets forth the vesting and other terms of restricted stock awards granted pursuant to the plan. The foregoing descriptions of the SARs award form and restricted stock award form do not purport to be complete and are qualified in their entirety by reference to the full text of the SARs award form and restricted stock award form filed as Exhibits 10.1 and 10.2 hereto, respectively, and incorporated herein by reference. <br>
</FONT>
</P>
<!-- Item END -->
<BR><BR><BR><BR><!-- Item START -->
<P ALIGN="LEFT">
<FONT SIZE="2">
<B>
	Item 8.01 Other Events.
</B>
</FONT>
</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
IRT reports that, as of February 4, 2014, there were 17,702,539 shares of IRT&#x2019;s common stock issued and outstanding.
</FONT>
</P>
<!-- Item END -->
<BR><BR><BR><BR><!-- Item START -->
<P ALIGN="LEFT">
<FONT SIZE="2">
<B>
	Item 9.01 Financial Statements and Exhibits.
</B>
</FONT>
</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
(a)  Financial Statements of Businesses Acquired. <br><br>IRT hereby confirms that the financial statements and pro forma information relating to the acquisition of the property required by Rule 3-14 and Article 11 of Regulation S-X will be filed as an amendment to this Current Report on Form 8-K no later than April 18, 2014, which date is within the period allowed to file such an amendment. <br><br>(b)  Pro Forma Financial Information. <br><br>See paragraph (a) above. <br><br>(c)  Shell Company Transactions. <br><br>None. <br><br>(d)  Exhibits. <br><br>The exhibits filed as part of this Current Report on Form 8-K are identified in the Exhibit Index immediately following the signature page of this report. Such Exhibit Index is incorporated herein by reference. <br>
</FONT>
</P>
<!-- Item END -->
<BR><BR><BR><BR><P ALIGN="LEFT" STYLE="FONT-SIZE: 10PT"></P><!-- PageBreak START -->
<P>
<HR NOSHADE>
<DIV ALIGN="LEFT" STYLE="PAGE-BREAK-BEFORE:ALWAYS">
<A HREF="#DOCUMENT_TOP">
<U>
<B>
<FONT SIZE="2">Top of the Form</FONT>
</B>
</U>
</A>
</DIV>
<!-- PageBreak END --><!-- SignatureHeader START -->
<P ALIGN="CENTER">
<FONT SIZE="2">
<B>
	SIGNATURES
</B>
</FONT>
</P>
<P ALIGN="LEFT">
<FONT SIZE="2">
	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
</FONT>
</P>
<!-- SignatureHeader END --><!-- Signature START -->
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
<TD WIDTH="19%">
	&nbsp;
</TD>
<TD WIDTH="34%">
	&nbsp;
</TD>
<TD WIDTH="3%">
	&nbsp;
</TD>
<TD WIDTH="1%">
	&nbsp;
</TD>
<TD WIDTH="43%">
	&nbsp;
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD COLSPAN="3" VALIGN="TOP" ALIGN="LEFT">
<FONT SIZE="2">
	Independence Realty Trust, Inc.
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
<I>
	February 6, 2014
</I>
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	By:
</I>
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	/s/ James J. Sebra
</I>
<BR>
</FONT>
</TD>
</TR>
<TR>
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<HR SIZE="1" NOSHADE>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	Name: James J. Sebra
</I>
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD>
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="2">
<I>
	Title: Chief Financial Officer and Treasurer
</I>
</FONT>
</TD>
</TR>
</TABLE>
</CENTER>
<!-- Signature END --><!-- PageBreak START -->
<P>
<HR NOSHADE>
<DIV ALIGN="LEFT" STYLE="PAGE-BREAK-BEFORE:ALWAYS">
<A HREF="#DOCUMENT_TOP">
<U>
<B>
<FONT SIZE="2">Top of the Form</FONT>
</B>
</U>
</A>
</DIV>
<!-- PageBreak END --><P ALIGN="CENTER">
<FONT SIZE="2">
	Exhibit&nbsp;Index
</FONT>
<CENTER>
<TABLE CELLSPACING="0" BORDER="0" CELLPADDING="0" WIDTH="60%">
<TR VALIGN="BOTTOM">
<TD WIDTH="8%">
	&nbsp;
</TD>
<TD WIDTH="15%">
	&nbsp;
</TD>
<TD WIDTH="77%">
	&nbsp;
</TD>
</TR>

<BR>
<TR VALIGN="BOTTOM">
<TD NOWRAP ALIGN="LEFT">
<FONT SIZE="1">
<B>
	Exhibit No.
</B>
</FONT>
</TD>
<TD>
<FONT SIZE="1">
	&nbsp;
</FONT>
</TD>
<TD NOWRAP ALIGN="LEFT">
<FONT SIZE="1">
<B>
	Description
</B>
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD NOWRAP ALIGN="CENTER">
<HR SIZE="1" NOSHADE>
</TD>
<TD>
<FONT SIZE="1">
	&nbsp;
</FONT>
</TD>
<TD NOWRAP ALIGN="CENTER">
<HR ALIGN="LEFT" SIZE="1" WIDTH="88%" NOSHADE>
</TD>
</TR>





<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" WIDTH="8%" nowrap>
<FONT SIZE="2">
<DIV ALIGN="LEFT">
	10.1
</DIV>
</FONT>
</TD>
<TD WIDTH="15%">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
<FONT SIZE="2">
Independence Realty Trust, Inc. Long Term Incentive Plan Form of Stock Appreciation Rights Award Certificate adopted January 31, 2014.
</FONT>
</TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" WIDTH="8%" nowrap>
<FONT SIZE="2">
<DIV ALIGN="LEFT">
	10.2
</DIV>
</FONT>
</TD>
<TD WIDTH="15%">
<FONT SIZE="2">
	&nbsp;
</FONT>
</TD>
<TD ALIGN="LEFT" VALIGN="TOP" WIDTH="77%">
<FONT SIZE="2">
Independence Realty Trust, Inc. Long Term Incentive Plan a Form of Restricted Stock Award Certificate adopted January 31, 2014.
</FONT>
</TD>
</TR></TABLE></CENTER><!-- HTMLFooter START -->
</BODY>
</HTML>
<!-- HTMLFooter END -->
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 3.2//EN">
<HTML>
<HEAD>
<TITLE> EX-10.1 </TITLE>
</HEAD>
<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">

<BODY style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><FONT style="font-size: 11pt"><B>&#091;Consultant Award&#093;</B></FONT>



<P align="center" style="font-size: 11pt"><B>INDEPENDENCE REALTY TRUST, INC.<BR>
LONG TERM INCENTIVE PLAN<BR>
STOCK APPRECIATION RIGHTS AWARD CERTIFICATE</B>



<P align="left" style="font-size: 11pt">To the Grantee Named Below:


<P align="left" style="font-size: 11pt">You have been granted stock appreciation rights (&#147;SARs&#148;) in the common stock (the &#147;Common Stock&#148;)
of Independence Realty Trust, Inc. (the &#147;Company&#148;) under Section&nbsp;8.1 of the Independence Realty
Trust, Inc. Long Term Incentive Plan (the &#147;Plan&#148;). This Stock Appreciation Rights Award
Certificate (the &#147;Award Certificate&#148;) sets forth the aggregate number of shares under this Award
and its terms and conditions. This Award is contingent upon your acknowledgement and acceptance of
the terms and conditions as set forth in this Award Certificate and in the Plan.

<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="26%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="74%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Grant Date:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">January&nbsp;31,, 2014</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Number of Shares:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Fair Market Value per Share:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">U.S. $8.20. &#147;Fair Market Value,&#148; is defined as defined in the Plan.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Expiration Date:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">The fifth anniversary of the Grant Date.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Vesting:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">You are receiving this Award in your capacity as a Consultant to the Company<BR>
arising from your status as an employee of RAIT Financial Trust (&#147;RAIT&#148;).<BR>
Therefore, your award will vest provided that you (i)&nbsp;continue in your<BR>
employment with RAIT; the Company&#146;s advisor or their respective affiliates; or<BR>
(ii)&nbsp;become and continue as an Employee or a Consultant of the Company through<BR>
the following: (each, a &#147;Vesting Date&#148;):</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">First anniversary of Grant Date 1/3 of Grant<BR>
Second anniversary of Grant Date 1/3 of Grant<BR>
Third anniversary of the Grant Date 1/3 of Grant<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.<BR>
Your SARs will vest if the Company undergoes a Change in Control (as defined in<BR>
the Plan) and your service as a Consultant is terminated within one year of such<BR>
Change in Control.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Termination of Service:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">If your employment service with RAIT; the Company&#146;s advisor or their respective<BR>
affiliates terminates by reason of your Disability or death, then your SARs will<BR>
become fully vested and exercisable by you or your beneficiary.<BR>
If your employment service with RAIT; the Company&#146;s advisor or their respective<BR>
affiliates terminates for any reason other than death, Disability or Change in<BR>
Control, then you shall forfeit any unvested SARS and your vested SARs will<BR>
terminate on the 30<sup>th</sup> day following the date of termination of<BR>
service. The above notwithstanding, if your employment service with RAIT; the<BR>
Company&#146;s advisor or their respective affiliates terminates prior to full<BR>
vesting, but you continue to provide services to the Company as an Employee or<BR>
Consultant, then such termination of service shall not result in the forfeiture<BR>
of unvested SARs</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Exercise:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">You may exercise this SAR only to the extent vested and only if the SAR has not<BR>
expired or terminated. SARs shall expire on the fifth anniversary of the Grant<BR>
Date. Therefore, SARs must be exercised after vesting but before the fifth<BR>
anniversary of the Grant Date. To exercise this SAR, you must follow the<BR>
procedure and submit the form attached as Exhibit&nbsp;A hereto. If someone else<BR>
wants to exercise this SAR after your death, that person must contact the<BR>
Company and prove to the Company&#146;s satisfaction that he or she is entitled to do<BR>
so. Your ability to exercise the SAR may be restricted by the Company or RAIT if<BR>
required by applicable law or the rules of any securities exchange on which the<BR>
shares of the Company or RAIT&#146;s stock is then listed.</DIV></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">The amount of the payment for each SAR exercised shall equal (i)&nbsp;the Fair Market<BR>
Value of the shares of Common Stock on the date of exercise, less (ii)&nbsp;the Fair<BR>
Market Value specified above. The SAR shall be settled in whole shares of Stock<BR>
or in cash as determined at the discretion of the Company.<BR>
As a condition to exercise, the Company and/or RAIT may require you to execute<BR>
an &#147;Investment Representation Statement&#148; and enter into a shareholder&#146;s<BR>
agreement or any other agreement required by the Board or shareholders in<BR>
general, with such terms and conditions as the Company and/or RAIT may<BR>
prescribe.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Tax Liability of the<BR>
Participant and Payment of<BR>
Taxes
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">You acknowledge and agree that any income or other taxes due from you with<BR>
respect to the SARs issued pursuant to this Award Certificate shall be your<BR>
responsibility. Upon exercise, you may elect to have a portion of the SAR amount<BR>
withheld in order to satisfy your tax obligations.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Transferability:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">You may not transfer or assign this SAR for any reason, other than under your<BR>
will or as required by intestate laws. Any attempted transfer or assignment<BR>
will be null and void.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Restrictions on Resale:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By accepting this SAR, you agree not to sell any shares of Common Stock acquired<BR>
under this SAR at a time when applicable laws, Company or RAIT policies, any<BR>
stockholder agreement or other agreement to which you are a party or any or an<BR>
agreement between the Company and its underwriters, prohibit a sale.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Miscellaneous:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">As a condition of the granting of this Award, you agree, for yourself and your<BR>
legal representatives or guardians, that this Award Certificate shall be<BR>
interpreted by the Board (or a committee thereof) and that any such<BR>
interpretation of the terms of this Award Certificate and any determination made<BR>
by the Board (or a committee thereof) pursuant to this Award Certificate shall<BR>
be final, binding and conclusive. This Award Certificate and the SAR granted<BR>
hereunder shall be governed by Maryland Law.</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 11pt">This Award is granted under and governed by the terms and conditions of the Plan, the provisions of
which are incorporated herein by reference. Additional provisions regarding this Award and
definitions of capitalized terms used and not defined in this Award Certificate can be found in the
Plan. Any inconsistency between this Award Certificate and the Plan shall be resolved in favor of
the Plan. The Participant hereby acknowledges receipt of a copy of the Plan.</FONT><FONT style="font-size: 12pt"> The invalidity or
unenforceability of any provisions of this Award Certificate shall not affect the validity or
enforceability of any other provision of this Award Certificate, which shall remain in full force
and effect.
</FONT>

<P align="center" style="font-size: 12pt"><FONT style="font-size: 11pt">BY SIGNING BELOW AND ACCEPTING THIS STOCK APPRECIATION RIGHT AWARD, YOU AGREE TO ALL OF THE<BR>
TERMS AND CONDITIONS DESCRIBED HEREIN AND IN THE PLAN. YOU ALSO ACKNOWLEDGE RECEIPT OF THE PLAN.</FONT>


<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">INDEPENDENCE REALTY TRUST, INC. GRANTEE
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Name: James J. Sebra<BR>
Title: Chief Financial Officer &#038; Treasurer
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Name:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
<BR></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt; display: none">1
<!-- PAGEBREAK -->


<P align="right" style="font-size: 11pt"><B>EXHIBIT A</B>



<P align="center" style="font-size: 11pt"><FONT style="font-size: 12pt"><B>INDEPENDENCE REALTY TRUST, INC.<BR>
LONG TERM INCENTIVE PLAN<BR>
EXERCISE AND SETTLEMENT OF VESTED SARS</B></FONT>



<P align="left" style="font-size: 12pt; text-indent: 4%"><FONT style="font-size: 11pt">Capitalized terms used herein are defined as defined in the </FONT><FONT style="font-size: 12pt">Stock Appreciation
Rights Award Certificate (the &#147;Award Certificate&#148;) to which this Exhibit is attached unless
otherwise defined herein</FONT><FONT style="font-size: 11pt">. </FONT><FONT style="font-size: 12pt">This Exhibit sets forth the procedures the Participant must
follow to exercise the SARs granted to the Participant pursuant to the Award Certificate.
</FONT>

<P align="left" style="font-size: 12pt; text-indent: 4%">Each SAR shall be exercisable on or after its applicable Vesting Date in accordance with the
terms of the Award Certificate and the Plan. Any such vesting is subject to the terms and
conditions of the Plan and your Award Certificate. A SAR shall be exercised upon delivery by the
Participant to RAIT&#146;s Human Resources department of a completed exercise election form
(&#147;<U>Election Form</U>&#148;) substantially in the form attached as <U>Appendix&nbsp;A</U> to this Exhibit
specifying the number of SARs to be exercised and the date of exercise (which shall be
prospective). The number of SARs to be exercised may not exceed the number of vested SARs as of
the date of exercise. Upon approval by the Committee, the aggregate Value of exercised SARs shall
be settled and paid to Participant in cash, an equivalent value of shares of Common Stock or any
combination thereof as determined in the sole and exclusive discretion of the Committee.


<P align="left" style="font-size: 12pt; text-indent: 4%">In the Election Form, the Participant must designate a specific Exercise Date (MM/DD/YYYY).
Such Exercise Date must be (i)&nbsp;during the period (the &#147;<U>Vested Period</U>&#148;) at any time on or
after the date the Vesting Date until the termination of the vested SARs in accordance with the
terms and conditions of the Plan and the Award Certificate, (ii)&nbsp;prospective and (iii)&nbsp;no later
than thirty (30)&nbsp;days following submission of the Election Form. An Exercise Date is &#147;prospective&#148;
if it is submitted to, and accepted and approved by the Company before the determination of the
Fair Market Value on the relevant Exercise Date. You may designate the Exercise Date that is the
same date you submit the attached Election Form provided all the conditions specified above are
met. Your designation of the Exercise Date is irrevocable and is binding upon you and once it is
accepted and approved by the Company. Settlement will be completed within five (5)&nbsp;business days
of the Exercise Date. Settlement will be made in cash, an equivalent value of shares of Common
Stock, or a combination of the two as determined in the sole discretion of the Committee.


<P align="center" style="font-size: 10pt; display: none; text-indent: 4%">2
<!-- PAGEBREAK -->

<P align="right" style="font-size: 12pt"><B>APPENDIX A</B>



<P align="center" style="font-size: 12pt"><B>INDEPENDENCE REALTY TRUST, INC.<BR>
LONG TERM INCENTIVE PLAN<BR>
SARS EXERCISE ELECTION FORM</B>



<P align="left" style="font-size: 12pt; text-indent: 4%">I, a participant under the Independence Realty Trust, Inc. Long Term Incentive Plan (the
&#147;<U>Plan</U>&#148;), or a person otherwise entitled to exercise the Stock Appreciation Rights
(&#147;<U>SARs&#148;</U>) thereunder, do hereby exercise the right to settlement of the following SARs on
the date of exercise (the &#147;<U>Exercise Date</U>&#148;) identified below:

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="82%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exercise Date:<BR>
Number of SARs:<BR>
Date of Grant:<BR>
Date of Vesting:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 12pt"><I>(The Exercise Date must comply with the conditions set forth in the Notice of Ability to Exercise
Vested Stock Appreciation Rights relating to these SARs.) </I>I understand that the Company may reduce
the amount paid to me as necessary to satisfy withholding tax obligations. I further understand
that the Company may settle the exercised SARs in cash or in the equivalent value of shares of
Common Stock of the Company or a combination of the two as determined in the sole discretion of the
Compensation Committee of the Board of Trustees of the Company.


<P align="center" style="font-size: 12pt"><B>Send a completed copy of this SAR Exercise Form to:</B>


<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD colspan="3" valign="top" align="left">Independence Realty Trust, Inc.<BR></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD colspan="3" valign="top" align="left">c/o RAIT Financial Trust<BR></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cira Center
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><BR></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD colspan="3" valign="top" align="left">2929 Arch Street, 17<sup>th</sup> Floor<BR></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD colspan="3" valign="top" align="left">Philadelphia, PA 19104<BR></TD>
</TR>
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Attn:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Michele Rudoi</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="margin-left:12%; font-size: 12pt; text-indent: 3%">Human Resources


<P align="left" style="font-size: 12pt">I understand that this election and the designation of the Exercise Date above are irrevocable once
accepted and approved by the Company.


<P align="left" style="font-size: 12pt">Print Name Date


<P align="left" style="font-size: 12pt">Signature


<P align="center" style="font-size: 10pt; display: none">3
<!-- PAGEBREAK -->

<P align="left" style="font-size: 12pt"><FONT style="font-size: 11pt"><B>ACCEPTED AND APPROVED ON BEHALF OF INDEPENDENCE REALTY TRUST, INC:</B>
</FONT>

<P align="left" style="font-size: 11pt"><FONT style="font-size: 12pt">By: Name & Title: Date
</FONT>


<P align="center" style="font-size: 10pt; display: none">4




<!-- v.121908 -->
</BODY>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exhibit2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 3.2//EN">
<HTML>
<HEAD>
<TITLE> EX-10.2 </TITLE>
</HEAD>
<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">

<BODY style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><FONT style="font-size: 11pt"><B>INDEPENDENCE REALTY TRUST, INC.<BR>
LONG TERM INCENTIVE PLAN<BR>
RESTRICTED STOCK AWARD CERTIFICATE</B></FONT>



<P align="left" style="font-size: 11pt">To the Grantee Named Below:


<P align="left" style="font-size: 11pt">You have been granted Restricted Stock of Independence Realty Trust, Inc. (the &#147;Company&#148;) under
Section&nbsp;9.1 of the Independence Realty Trust, Inc. Long Term Incentive Plan (the &#147;Plan&#148;). This
Restricted Stock Award Certificate (the &#147;Award Certificate&#148;) sets forth the aggregate number of
shares under this Award and its terms and conditions. This Award is contingent upon your
acknowledgement and acceptance of the terms and conditions as set forth in this Award Certificate
and in the Plan.

<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="77%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Grant Date:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">January&nbsp;31, 2014</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Number of Shares:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Vesting:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">You are receiving this Award in your capacity as a Consultant to the Company<BR>
arising from your status as an employee of RAIT Financial Trust (&#147;RAIT&#148;).<BR>
Therefore, your award will vest provided that you (i)&nbsp;continue in your<BR>
employment with RAIT; the Company&#146;s advisor or their respective affiliates;<BR>
or (ii)&nbsp;become and continue as an Employee or a Consultant of the Company<BR>
through the following:</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">First anniversary of Grant Date 1/3 of Shares<BR>
Second anniversary of Grant Date 1/3 of Shares<BR>
Third anniversary of the Grant Date 1/3 of Shares<BR>
Additionally, your award will vest all of the Shares under this Award if the<BR>
Company undergoes a Change in Control (as defined in the Plan) and your<BR>
service as a Consultant is terminated within one year of such Change in<BR>
Control.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">If your employment service with RAIT; the Company&#146;s advisor or their<BR>
respective affiliates terminates by reason of death or Disability, then your<BR>
Restricted Stock will become fully vested.<BR>
If your employment service with RAIT; the Company&#146;s advisor or their<BR>
respective affiliates terminates prior to full vesting for any reason other<BR>
than death, Disability or Change in Control, you shall forfeit any remaining<BR>
unvested Restricted Stock and related dividends subject to this Award as of<BR>
the date of such termination of service. Upon a forfeiture, unvested<BR>
Restricted Stock and related dividends shall be transferred to the Company.<BR>
If your employment service with RAIT; the Company&#146;s advisor or their<BR>
respective affiliates terminates prior to full vesting, but you continue to<BR>
provide services to the Company as an Employee or Consultant, then such<BR>
termination of service shall not result in the forfeiture of unvested<BR>
Restricted Stock.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Rights a Shareholder:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Except as otherwise provided in this Award Certificate or the Plan, you shall<BR>
have all the rights of a stockholder of the Company with respect to the<BR>
Restricted Stock, subject to the restrictions, including, without limitation,<BR>
voting rights and allocation of cash or stock dividends, in respect of the<BR>
Restricted Stock subject to the vesting of the Award.<BR>
The Company may require you to execute an &#147;Investment Representation<BR>
Statement&#148; and enter into a shareholder&#146;s agreement or any other agreement<BR>
required by the Board or shareholders in general, with such terms and<BR>
conditions as the Company may prescribe.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Tax Liability of the<BR>
Participant and<BR>
Payment of Taxes:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">You acknowledge and agree that any income or other taxes due from you with<BR>
respect to the Restricted Stock issued pursuant to this Award Certificate<BR>
shall be your responsibility. Upon vesting, you may elect to have a portion of<BR>
your vested shares withheld in order to satisfy your tax obligations.<BR>
Upon execution of this Award Certificate, you may file an election under<BR>
Section&nbsp;83(b) of the Code (See attached Exhibit&nbsp;A ). You have been given the<BR>
opportunity to obtain the advice of your tax advisors with respect to the tax<BR>
consequences of the Restricted Stock and the provisions of this Award<BR>
Certificate. You assume all responsibility for filing the Section&nbsp;83(b)<BR>
election and paying any taxes resulting from such election or from failure to<BR>
file the election and paying taxes resulting from the lapse of the<BR>
restrictions on the unvested shares. Tax obligations arising from the Section<BR>
83(b) election must be paid by you and cannot be satisfied by withholding<BR>
shares.</DIV></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Transferability:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Except as otherwise provided in this Award Certificate, until the Restricted<BR>
Stock vests and become non-forfeitable, you may not transfer or assign the<BR>
Restricted Stock for any reason, other than under your will or as required by<BR>
intestate laws. Any attempted transfer or assignment will be null and void.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Restrictions on Resale:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By accepting this Award Certificate, you agree not to sell any Restricted<BR>
Stock acquired under this Award Certificate at a time when applicable laws,<BR>
RAIT or Company policies, any stockholder agreement or other agreement to<BR>
which you are a party or any agreement between the Company and its<BR>
underwriters, prohibit a sale.</DIV></TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD align="left" valign="top">Miscellaneous:
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">As a condition of the granting of this Award, you agree, for yourself and your<BR>
legal representatives and/or guardians, that this Award Certificate shall be<BR>
interpreted by the Board (or a committee thereof) and that any such<BR>
interpretation of the terms of this Award Certificate and any determination<BR>
made by the Board (or a committee thereof) pursuant to this Award Certificate<BR>
shall be final, binding and conclusive. This Award Certificate may be<BR>
executed in counterparts. This Award Certificate and the Restricted Stock<BR>
granted hereunder shall be governed by Maryland Law.</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 11pt">This Award Certificate and the Restricted Stock granted hereunder are granted under and governed by
the terms and conditions of the Plan, the provisions of which are incorporated herein by reference.
Additional provisions regarding your Restricted Stock and definitions of capitalized terms used
and not defined in this Restricted Stock can be found in the Plan. Any inconsistency between this
Award Certificate and the Plan shall be resolved in favor of the Plan. The Participant hereby
acknowledges receipt of a copy of the Plan.</FONT><FONT style="font-size: 12pt"> The invalidity or unenforceability of any
provisions of this Award Certificate shall not affect the validity or enforceability of any other
provision of this Award Certificate, which shall remain in full force and effect. In the event
that any provision of this Award Certificate or any word, phrase, clause, sentence, or other
portion hereof (or omission thereof) should be held to be unenforceable or invalid for any reason,
such provision or portion thereof shall be modified or deleted in such a manner so as to make this
Award Certificate as so modified legal and enforceable to the fullest extent permitted under
applicable law.
</FONT>

<P align="left" style="font-size: 12pt; text-indent: 4%"><FONT style="font-size: 11pt">BY SIGNING BELOW AND ACCEPTING THIS AWARD CERTIFICATE AND THE RESTRICTED STOCK GRANTED
HEREUNDER, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED HEREIN AND IN THE PLAN. YOU ALSO
ACKNOWLEDGE RECEIPT OF THE PLAN.
</FONT>
<DIV align="center">
<TABLE style="font-size: 11pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="80%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 11pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">INDEPENDENCE REALTY TRUST, INC.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">GRANTEE</TD>
</TR>
<TR valign="bottom" style="font-size: 11pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Name: James J. Sebra
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
Name:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 11pt">Title: Chief Financial Officer & Treasurer


<P align="center" style="font-size: 10pt; display: none">1
<!-- PAGEBREAK -->

<P align="center" style="font-size: 11pt"><FONT style="font-size: 12pt"><B>INDEPENDENCE REALTY TRUST, INC.<BR>
2929 ARCH STREET, 17</B><sup><B>TH</sup> FLOOR<BR>
PHILADELPHIA, PA 19104</B></FONT>


<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">To:<BR>
Re:<BR>
Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Participants Receiving Restricted Stock Awards<BR>
&#147;83(b) Election&#148; for Federal Income Tax Treatment<BR>
January&nbsp;31, 2014</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 12pt; text-indent: 4%">You have been awarded shares of Common Stock of Independence Realty Trust, Inc. (the &#147;Common
Stock&#148;) pursuant to the Independence Realty Trust, Inc. Long Term Incentive Plan (the &#147;Plan&#148;) as
described in the Restricted Stock Award Certificate (the &#147;Award&#148;). This memorandum outlines the
tax treatment of the Award, and explains the opportunity you have to impact that treatment if you
make an appropriate election as provided under Section 83(b) of the Internal Revenue Code (&#147;Code&#148;),
or an &#147;83(b) election&#148;. <B>This memorandum is for information purposes only and should not be
construed as tax or financial planning advice. You should consult with your personal tax advisor
to determine the most appropriate course based on your personal financial goals.</B>


<P align="left" style="font-size: 12pt"><U>Federal Income Taxes</U>


<P align="left" style="font-size: 12pt; text-indent: 4%">The Award consists of Shares of Common Stock, the fair market value of which is taxed at
ordinary income rates when the restrictions applicable to the shares of Common Stock lapse and you
become &#147;vested&#148; in such shares of Common Stock. Under the Plan, fair market value is defined as
the closing price of a Common Share on the New York Stock Exchange on the relevant date. The
vesting schedule of the shares of Common Stock is set forth in your Award. The Award provides that
you may elect to satisfy any withholding tax arising on a vesting date by having shares of Common
Stock and related dividends subject to the Award withheld with a fair market value equal to the tax
due.


<P align="left" style="font-size: 12pt; text-indent: 4%">Under Section 83(b) of the Code, you have the option of electing to include as ordinary income
in your taxable income for 2014 the fair market value at the grant date of some or all of the
unvested shares of Common Stock included in the Award. An 83(b) election allows you to defer the
remaining tax on the appreciation on the shares of Common Stock, if any, that occurs during the
vesting period until you sell or otherwise dispose of the shares of Common Stock. Any appreciation
or depreciation of the shares of Common Stock at disposition will be taxable as a capital gain or
loss, respectively. The risk, however, is that if you do not vest in the shares of Common Stock
included in the Award after having made a Section 83(b) election, you will have paid federal income
taxes on property that will be forfeited and the taxes paid are not deductible. In addition, any
withholding taxes due when you make an 83(b) election must be paid in cash and cannot be satisfied
by having shares of Common Stock and related dividends subject to the Award withheld.


<P align="left" style="font-size: 12pt; text-indent: 4%">Under your current Award, if you make an 83(b) election, you are required to include in your
2014 ordinary income an amount equal to the product resulting from multiplying the fair market
value of a Common Share on the grant date by the number of shares of Common Stock in your Award
subject to your 83(b) election. You will have no additional tax liability when vesting occurs.
When you sell any shares of Common Stock in your Award, any appreciation in excess of the fair
market value of a Common Share on the grant date will be taxed as capital gain.


<P align="left" style="font-size: 12pt; text-indent: 4%">If you do not make an 83(b) election, the fair market value of such shares of Common Stock on
the vesting date, including any appreciation after the date of grant, will be includable as
ordinary income in the year when the shares of Common Stock vest.


<P align="left" style="font-size: 12pt"><U>Code Section 83(b) election</U>


<P align="left" style="font-size: 12pt; text-indent: 4%">A copy of the 83(b) election form is available from the RAIT Human Resources department. <B>The
8</B><B>3(b)</B><B> election must be filed with the IRS within 30&nbsp;days of the grant date of the Award</B>. This
initial filing must be made with the Internal Revenue Service Center with which you file your
Federal income tax returns. Additionally, you are required to file a copy of your 83(b) election
(1)&nbsp;with your income tax return for the taxable year in which you receive the Award (in this case,
your 2014 tax return) and (2)&nbsp;with the RAIT Human Resources department. <B>The </B><B>83(b)</B><B> election is
irrevocable except with the consent of the IRS. </B>You need not make the election with respect to all
of the shares of Common Stock granted in the Award .



<P align="center" style="font-size: 10pt; display: none">2




<!-- v.121908 -->
</BODY>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
