Lukes David R 4
4 · Curbline Properties Corp. · Filed Feb 24, 2026
Research Summary
AI-generated summary of this filing
Curbline CEO David R. Lukes Sells 11,537 Shares
What Happened David R. Lukes, President, CEO and a director of Curbline Properties Corp. (CURB), disposed of 11,537 shares on February 22, 2026. The shares were reported at $27.25 each, for a total value of $314,383. The transaction is coded "F" on the Form 4, indicating payment of an exercise price or satisfaction of a tax liability (i.e., shares were withheld/sold to cover taxes or exercise costs).
Key Details
- Transaction date and price: Feb 22, 2026 — 11,537 shares at $27.25 per share; total $314,383.
- Transaction code: F (payment of exercise price or tax liability — commonly used for tax withholding on equity awards).
- Shares owned after the transaction: Not specified in the provided filing excerpt.
- Footnotes of note:
- These holdings relate to LTIP Units (limited partnership units) that can convert into Common Units and may be redeemed for one share of issuer common stock or cash (no expiration on conversion/redemption rights). (F1)
- The LTIP Units were granted as part of annual awards and as Mr. Lukes’ 2025 incentive compensation election; they vest ratably over three years subject to continued employment. (F2, F3)
- Filing/timeliness: Form filed Feb 24, 2026 reporting the Feb 22 transaction — appears to be a timely Form 4 filing (filed two days after transaction).
Context This was a disposition tied to tax/price-payment mechanics for equity awards rather than an open-market sale as a personal investment decision. The filing’s footnotes show the underlying units are LTIP compensation units that vest over time and can convert to common units (redeemable for stock or cash), which explains why shares might be withheld or sold to cover taxes or exercise costs. Such F-code transactions are routine following vesting/conversion events and do not, by themselves, indicate management sentiment about the stock.
Insider Transaction Report
- Tax Payment
Common Stock
2026-02-22$27.25/sh−11,537$314,383→ 833,825 total
- 30,594
LTIP Units
[F1][F2]→ Common Stock (30,594 underlying) - 91,779
LTIP Units
[F1][F3]→ Common Stock (91,779 underlying)
Footnotes (3)
- [F1]Reflects a class of limited partnership units in Curbline Properties LP ("LTIP Units"). 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 into a common unit in Curbline Properties LP (a "Common Unit"). Each Common Unit acquired upon conversion of an LTIP Unit may be redeemed for one share of Issuer common stock or cash, at the election of the Issuer. The right to convert LTIP Units into Common Units and to redeem Common Units for cash or shares of Issuer common stock do not have expiration dates.
- [F2]Annual grant of LTIP Units made in accordance with the terms of Mr. Lukes' Assigned Employment Agreement dated as of September 1, 2024, as amended by the First Amendment thereto dated as of November 13, 2024 (the "Employment Agreement"). These LTIP Units vest ratably on the first three anniversaries of the grant date, subject generally to Mr. Lukes' continued employment with the Issuer.
- [F3]In accordance with the terms of the Employment Agreement, Mr. Lukes elected to receive his 2025 annual incentive compensation payout entirely in the form of LTIP Units. These LTIP Units vest ratably on the first three anniversaries of the grant date, subject generally to Mr. Lukes' continued employment with the Issuer