Form 4 for UE Urban Edge Properties
Accepted 2023-02-21 00:00:00 ET · period of report 2023-02-16 · accession 0001225208-23-002453 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-02-21 | 2023-02-17 | UE | Milton Robert C. III | GC, Sec | S - Sale | $15.83 | -20.0K | 0 | -100% | -$316.6K |
| D | 2023-02-21 | 2023-02-16 | UE | Milton Robert C. III | GC, Sec | C - Cnv Deriv | $0.00 | +20.0K | 20.0K | New | $0 |
| DM | 2023-02-21 | 2023-02-16 | UE | Milton Robert C. III | GC, Sec | C - Cnv Deriv | $0.00 | -20.0K | 1,869 | -91% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Shares | 2023-02-17 | S | D | 20,000 | $15.83 | 0 | D | — | — | |
| 2 | Common | Common Shares | 2023-02-16 | C | A | 20,000 | $0.00 | 20,000 | D | — | — | (F1) 20,000 LTIP units ("LTIP Units") in Urban Edge Properties LP (the "Partnership"), of which the Issuer is the sole general partner, were exchanged for an equal number of Common Partnership Units ("Common Units") in the Partnership, which were subsequently redeemed for an equal number of common shares of beneficial interest, par value $0.01 ("Common Shares") of the Issuer. |
| 3 | Derivative | LTIP Units | 2023-02-16 | C | D | 12,202 | $0.00 | 0 | D | — · — to — | 12,202 Common Shares | (F3) Represents LTIP Units in the Partnership granted under the Omnibus Plan and that were earned pursuant to the UEP 2015 Outperformance Plan following the achievement of certain relative total shareholder return goals over the three-year period ending November 5, 2018. 50% of the LTIP Units vested on November 5, 2018 and 25% vested on each of November 6, 2019 and November 6, 2020, respectively. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and vesting, each LTIP Unit may be converted, at the election of the holder, into a Common Unit. Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one Common Share of the Issuer. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The right to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates. |
| 4 | Derivative | LTIP Units (2018 LTI Time) | 2023-02-16 | C | D | 1,773 | $0.00 | 0 | D | — · — to — | 1,773 Common Shares | (F4) Represents LTIP Units in the Partnership granted pursuant to the Urban Edge Properties 2018 long-term incentive plan under the Omnibus Plan. The LTIP Units vested ratably over three years, with the initial vesting occurring on February 22, 2019. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and vesting, each LTIP Unit may be converted, at the election of the holder, into a Common Unit. Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one Common Share of the Issuer. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The right to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates. |
| 5 | Derivative | LTIP Units | 2023-02-16 | C | D | 6,025 | $0.00 | 1,869 | D | — · — to — | 6,025 Common Shares | (F2) Represents LTIP Units granted pursuant to the Urban Edge Properties 2015 Omnibus Plan (the "Omnibus Plan"). The LTIP Units vested ratably over three years, with the initial vesting occurring on February 27, 2020. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and vesting, each LTIP Unit may be converted, at the election of the holder, into a Common Unit. Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one Common Share of the Issuer. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The right to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates. |