February 12, 2024 · Form 4 insider transaction
DENTON ROBERT L sold 7,000 shares of COPT Defense Properties at $0.00 per share, a transaction worth N/A. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 1 day after the transaction.
The reporting person redeemed 7,000 common units of limited partnership interest ("Common Units") of COPT Defense Properties, L.P., of which the issuer is the general partner. Common Units are convertible into an equal number of the issuer's common shares of beneficial interest or, at the election of the issuer, cash equal to the fair market value of such shares. In the case of these 7,000 Common Units, the issuer elected to pay cash upon the conversion of the reporting person's Common Units, based on the 10-day average closing price of the issuer's common shares on the New York Stock Exchange. Common Units have no expiration date.; Common Units are convertible upon issuance.