4//SEC Filing
Eilberg Herbert 4
Accession 0001225208-20-003342
CIK 0001611547other
Filed
Feb 23, 7:00 PM ET
Accepted
Feb 24, 8:04 PM ET
Size
12.6 KB
Accession
0001225208-20-003342
Insider Transaction Report
Form 4
Eilberg Herbert
Chief Investment Officer
Transactions
- Award
LTIP Units (2020 LTI Perf.)
2020-02-20+9,321→ 9,321 total→ Common Shares (9,321 underlying) - Award
LTIP Units (2020 LTI Time)
2020-02-20+7,720→ 7,720 total→ Common Shares (7,720 underlying) - Award
LTIP Units
2020-02-20+6,140→ 6,140 total→ Common Shares (6,140 underlying)
Footnotes (6)
- [F1]Granted pursuant to the Urban Edge Properties 2015 Omnibus Share Plan (the "Omnibus Plan") and 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 Partnership Unit (a "Common Unit") in Urban Edge Properties LP ("UELP"). Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one Common Share of the 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.
- [F2]The LTIP Units vest ratably over three years, subject to continued employment through each vesting date, with the initial vesting occurring on February 20, 2021.
- [F3]Represents LTIP Units in Urban Edge Properties LP granted pursuant to the Urban Edge Properties 2020 long-term incentive plan (the "2020 LTI") under the Omnibus Plan. The 2020 LTI program is comprised of LTIP Units that vest solely based on time ("2020 LTI Time") and those that vest subject to both time and performanced hurdles ("2020 LTI Perf").
- [F4]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.
- [F5]The LTIP Units are scheduled to vest 50% on February 20, 2023 and 25% on each of February 20, 2024 and February 20, 2025, subject to continued employment through such dates and the achievement of certain performance based criteria based on the Issuer's total return to shareholders through February 20, 2023. Excludes 19,388 units granted under the 2020 LTI the vesting of which is subject to conditions (other than the passage of time and continued employment) that are not tied solely to the market price of an equity security of the Issuer. The vesting conditions relate to the Issuer's total shareholder return relative to the total shareholder return of a basket of peer group companies.
- [F6]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. The LTIP Units vest ratably over three years, subject to continued employment through each vesting date, with the initial vesting occurring on February 20, 2021.
Documents
Issuer
Urban Edge Properties
CIK 0001611547
Entity typeother
Related Parties
1- filerCIK 0001641084
Filing Metadata
- Form type
- 4
- Filed
- Feb 23, 7:00 PM ET
- Accepted
- Feb 24, 8:04 PM ET
- Size
- 12.6 KB