Need help with a 2-voice notation

[600 Ohms]

Hey experts, what's the move here? It's sliding octaves, basically. At the moment, the lower C, Bb-slide-to-C are on Voice 2 and the rest is Voice 1. Is there a better way to notate this? Bothered by the surplus rests.
Thanks:

 

[JimK]

I hear what you're doing here...keep the 1/16th REST on Beat_3.
The others? Das boot.

Here's a '70s R&B tune with 'sliding octaves'...about 19 seconds in to it (the verses)-

 

[600 Ohms]

Thank you for that. That sixteenth rest dropped into place after I figured out that you can hide the other rests without them actually going away (and the measure collapses like a house of cards). Nice.