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SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	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* Emery Rodney F (Last) (First) (Middle) 18100 VON KARMAN AVENUE, SUITE 200 (Street) IRVINE CA 92612 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Steadfast Apartment REIT, Inc. [ NONE ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) Chief Executive Officer
	3. Date of Earliest Transaction (Month/Day/Year) 12/16/2021
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/16/2021		D		558,143.489(1)	D	(1)	0	D
Common Stock	12/16/2021		D		26,687.127(1)	D	(1)	0	I	By Steadfast REIT Investments, LLC(2)
Common Stock	12/16/2021		D		11,440(1)	D	(1)	0	I	By Steadfast Apartment Advisor III, LLC(3)
Common Stock	12/16/2021		D		9,533.334(1)	D	(1)	0	I	By Spouse(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B OP Units	(5)	12/16/2021		D			6,155,613.92(6)	09/01/2021	(5)	Common Stock	6,155,613.92	(6)	0	I	By Steadfast REIT Investments, LLC(7)

Explanation of Responses:

1. Reflects the disposition of shares of the issuer's common stock in connection with the merger (the "Merger") of the issuer with and into IRSTAR Sub, LLC, a wholly-owned subsidiary of Independence Realty Trust, Inc. ("IRT"). In the Merger, each share of the issuer's common stock, par value $0.01 per share, was converted into the right to receive 0.905 shares of common stock of IRT, par value $0.01 per share.

2. Shares of common stock were held directly by Steadfast REIT Investments, LLC ("SRI"). The reporting person may be deemed to have beneficially owned the shares of common stock held by SRI, but the reporting person disclaims beneficial ownership of such shares except to the extent of the reporting person's pecuniary interest therein. The number of shares of common stock indicated in Item 5 does not include shares of common stock directly held by Steadfast Apartment Advisor, LLC ("STAR Advisor") and Steadfast Apartment Advisor III, LLC ("STAR III Advisor").

3. Shares of common stock were held directly by STAR III Advisor, which is owned by SRI. The reporting person may be deemed to have beneficially owned the shares of common stock held by STAR III Advisor, but the reporting person disclaims beneficial ownership of such shares of common stock except to the extent of the reporting person's pecuniary interest therein.

4. Shares of common stock were held directly by reporting person's spouse. The reporting person disclaims beneficial ownership of such shares, and this report shall not be deemed an admission that the reporting person was the beneficial owner of the shares for purposes of Section 16 or for any other purposes.

5. Commencing two years from the date of issuance, each class B unit of limited partnership interest in Steadfast Apartment REIT Operating Partnership, L.P. ("STAR OP Units") is redeemable for cash equal to the then-current market value of one share of the issuer's common stock or, at the election of the issuer, one share of the issuer's common stock. STAR OP Units have no expiration date.

6. Reflects the disposition of STAR OP Units in connection with the merger (the "OP Merger") of Steadfast Apartment REIT Operating Partnership, L.P. with and into Independence Realty Operating Partnership, LP, a Delaware limited partnership and a subsidiary of IRT. In the OP Merger, each of the STAR OP Units were converted into the right to receive 0.905 limited partnership interests in Independence Realty Operating Partnership, LP.

7. The reporting person may be deemed to have beneficially owned the STAR OP Units held by SRI, but the reporting person disclaims beneficial ownership of such STAR OP Units except to the extent of the reporting person's pecuniary interest therein.

Remarks:

	/s/ Gustav Bahn, as Attorney-In-Fact for Rodney F. Emery	12/16/2021
	** Signature of Reporting Person	Date
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).
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