4//SEC Filing
Mooallem Jeffrey 4
Accession 0001225208-24-001987
CIK 0001611547other
Filed
Feb 12, 7:00 PM ET
Accepted
Feb 13, 9:04 PM ET
Size
11.7 KB
Accession
0001225208-24-001987
Insider Transaction Report
Form 4
Mooallem Jeffrey
Chief Operating Officer
Transactions
- Award
2023 LTIPs
2024-02-09+128,817→ 128,817 total→ Common Shares (128,817 underlying) - Award
LTIP Units (2024 LTI Perf.)
2024-02-09+16,908→ 16,908 total→ Common Shares (16,908 underlying) - Award
LTIP Units (2024 LTI Time)
2024-02-09+41,925→ 41,925 total→ Common Shares (41,925 underlying)
Footnotes (6)
- [F1]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.
- [F2]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.
- [F3]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.
- [F4]Represents LTIP Units in Urban Edge Properties LP granted pursuant to the Urban Edge Properties 2024 long-term incentive plan (the "2024 LTI Plan") under the Urban Edge Properties 2015 Omnibus Share Plan. The 2024 LTI Plan is comprised of LTIP Units that vest solely based on time, which we refer to as "2024 LTI Time" in Table II and those that vest subject to both time and performanced hurdles, which we refer to as "2024 LTI Perf." in Table II.
- [F5]The LTIP Units are scheduled to vest 50% on February 9, 2027 and 25% on each of February 9, 2028 and February 9, 2029, 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 9, 2027. Excludes 55,350 LTIP units granted under the 2024 LTI Plan the vesting of which is subject to conditions that are not tied solely to the market price of an equity security of the Issuer.
- [F6]The LTIP Units vest ratably over three years, subject to continued employment through each vesting date, with the initial vesting occurring on February 9, 2025.
Documents
Issuer
Urban Edge Properties
CIK 0001611547
Entity typeother
Related Parties
1- filerCIK 0001550320
Filing Metadata
- Form type
- 4
- Filed
- Feb 12, 7:00 PM ET
- Accepted
- Feb 13, 9:04 PM ET
- Size
- 11.7 KB