BUDORICK STEPHEN E 4
4 · COPT DEFENSE PROPERTIES · Filed Feb 6, 2026
Research Summary
AI-generated summary of this filing
COPT Defense (CDP) CEO Stephen Budorick Receives Award
What Happened
Stephen E. Budorick, President/CEO and a director of COPT Defense Properties (CDP), received a grant of 179,704 Profit Interest Units on 2026-02-05. The units were issued as an award (transaction code A) at an acquisition price of $0.00 — this is a compensation/award transaction, not an open-market purchase or sale.
Key Details
- Transaction date: 2026-02-05; filing date: 2026-02-06 (timely).
- Instrument: 179,704 Profit Interest Units; acquisition price: $0.00.
- Shares owned after transaction: not specified in the provided filing.
- Footnote F1: Each Profit Interest Unit converts into one OP Unit (a unit in COPT Defense Properties, L.P.) when vested and upon equalization of its capital account; OP Units are redeemable for cash or, at the company's option, exchangeable one-for-one for common shares.
- Footnote F2: Units were issued under the COPT Defense Properties 2017 Omnibus Equity and Incentive Plan.
- Transaction type: Award/grant (A) — typically part of executive compensation, not a market signal like a buy or sell.
Context
This was a derivative equity award that will convert to partnership/OP units and potentially to common shares when vesting and capital-account conditions are met. Such grants reflect compensation structures and vesting schedules; they are not the same as an immediate cash purchase or sale of stock.
Insider Transaction Report
- Award
Profit Interest Units
[F1][F2]2026-02-05+179,704→ 1,063,297 total→ Common Shares (179,704 underlying)
Footnotes (2)
- [F1]Each Profit Interest Unit will convert automatically into one share of beneficial interest, designated as a unit (an "OP Unit"), in COPT Defense Properties, L.P. when such Profit Interest Unit becomes vested and upon equalization of its capital account balance. OP Units are redeemable for cash, or, at the option of COPT Defense Properties, exchangeable for common shares of COPT Defense Properties, currently on a one-for-one basis.
- [F2]Represents Profit Interest Units issued pursuant to the COPT Defense Properties 2017 Omnibus Equity and Incentive Plan.