February 9, 2024 · Form 4 insider transaction
Drazin Andrea Rosenthal bought 11,510 shares of Urban Edge Properties at $0.00 per share, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 4 days after the transaction.
Represents LTIP Units in Urban Edge Properties LP granted pursuant to a one-time elective program under which members of management elected to forgo 2023 cash bonuses and receive equity with a grant date fair value equal to the cash forgone that was matched on a one-for-one basis by the Issuer. The LTIPs shown represent both the forgone bonus plus the match, all of which vest ratably over four years, subject to continued employment through each vesting date, with the initial vesting occurring on February 9, 2025.; 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 Urban Edge Properties (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.; The LTIP Units vest ratably over four years, subject to continued employment through each vesting date, with the initial vesting occurring on February 9, 2025.