DENTON ROBERT L 4

What Happened

• Robert L. Denton, a director of COPT Defense Properties (CDP), reported the conversion/redemption of a derivative security on 2026-06-26. The Form 4 shows a derivative conversion (code C) and lists 0 shares and $0 because the reporting person redeemed 1,000 common units of COPT Defense Properties, L.P. The issuer elected to pay cash upon conversion, with the payment calculated using the 10‑day average NYSE closing price; the filing does not disclose the actual cash amount.

Key Details

• Transaction date: 2026-06-26 (conversion/redemption of derivative security)
• Reported on Form 4 as: Conversion of derivative security (C); filing shows 0 shares / $0 due to cash election
• Units redeemed: 1,000 common units (convertible into common shares or cash)
• Cash election: issuer elected cash based on the 10‑day average closing price (exact amount not reported)
• Common units are convertible upon issuance and have no expiration (per footnotes)
• Timeliness: filing dated same day as transaction (no late filing indicated)

Context

• This was a conversion/redemption where the issuer paid cash rather than delivering shares; it is a disposition of a derivative interest rather than an open‑market sale of company stock. Such redemptions are often routine and do not by themselves indicate the insider’s view on the company’s share price.