Owens Raymond Lee 4
4 · COPT DEFENSE PROPERTIES · Filed May 18, 2026
Research Summary
AI-generated summary of this filing
COPT Defense Properties (CDP) Director Owens Raymond Lee Receives Award
What Happened
Owens Raymond Lee, a director of COPT Defense Properties (CDP), was granted 3,803 Profit Interest Units on 2026-05-14 as compensation for board service (transaction code A). The award is a derivative grant (no cash paid and no per-share price reported). These Profit Interest Units convert into OP Units and, ultimately, may be exchanged one-for-one for common shares or redeemed for cash once vested.
Key Details
- Transaction date: 2026-05-14; Form 4 filed: 2026-05-18.
- Award: 3,803 Profit Interest Units (derivative instrument); price: N/A.
- Vesting: Units vest on the first anniversary of the grant date, provided the recipient remains a trustee (per footnote).
- Conversion/settlement: Each Profit Interest Unit automatically converts to one OP Unit when vested and upon equalization of its capital account; OP Units are redeemable for cash or, at the Trust’s option, exchangeable one-for-one for common shares (footnote).
- Post-transaction holdings: Not specified in the provided filing summary.
- Purpose: Issued as compensation for service on the Board of Trustees; units do not expire once vested.
Context
This is a compensation award, not an open-market purchase or sale—meaning it represents the potential to receive shares in the future if vesting/other conditions are met, rather than an immediate acquisition of common stock. Retail investors should view this as routine board compensation rather than a direct bullish or bearish trading signal.
Insider Transaction Report
- Award
Profit Interest Units
[F1][F4][F2][F3]2026-05-14+3,803→ 24,003 total→ Common Shares (3,803 underlying)
Footnotes (4)
- [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 Trust, exchangeable for common shares of COPT Defense Properties, currently on a one-for-one basis.
- [F2]The Profit Interest Units will vest on the first anniversary of the grant date, provided that the reporting person remains a trustee on such date.
- [F3]The Profit Interest Units do not expire once vested.
- [F4]Issued as compensation for service on the Board of Trustees