Olson Jeffrey S 4
4 · Urban Edge Properties · Filed May 12, 2026
Research Summary
AI-generated summary of this filing
Urban Edge (UE) CEO Jeffrey Olson Sells Shares After LTIP Conversion
What Happened
Jeffrey S. Olson, Chairman of the Board and CEO of Urban Edge Properties (UE), converted 180,587 LTIP units/derivative interests into common shares on May 7, 2026 (acquired at $0) and then sold all 180,587 common shares in open-market transactions on May 8 and May 11, 2026 for total proceeds of approximately $3,921,461. The May 8 sales (161,553 shares) produced about $3,509,997 (weighted avg price ~$21.7266); the May 11 sales (19,034 shares) produced about $411,464 (weighted avg price ~$21.6173).
Key Details
- Transaction dates: conversion on 2026-05-07; sales on 2026-05-08 and 2026-05-11. Form 4 filed 2026-05-12.
- Sale price ranges: May 8 sales ranged $21.605–$22.055 (wt. avg $21.7266); May 11 sales ranged $21.555–$21.735 (wt. avg $21.6173).
- Shares involved: 180,587 shares converted; 161,553 sold on 5/8; 19,034 sold on 5/11 (total sold = 180,587). Proceeds ≈ $3.92M.
- Ownership after transaction: Mr. Olson still holds over 2.3 million LTIP units across multiple tranches, including 670,000 unearned performance-based LTIP Units (per footnote).
- Notable footnotes: conversions relate to LTIP Units under the Omnibus/Outperformance plans (see F1, F5–F7). Vesting schedules and conversion rights are described in the filing; some LTIP units remained unearned.
- No 10b5-1 trading plan or tax-withholding sale method was disclosed in the Form 4. The filing appears timely (filed 5/12 for transactions through 5/11).
Context
- What "conversion" means here: Mr. Olson converted LTIP (long-term incentive plan) units/partnership units into common partnership units, which were then redeemed for common shares; those shares were subsequently sold. This is not an option exercise for cash; it’s a conversion of vested incentive units into shares followed by sales.
- For retail investors: sales by insiders can be routine (e.g., converting vested awards and monetizing them) and do not by themselves indicate company prospects. Purchases are generally more directly viewed as bullish signals.
Insider Transaction Report
Form 4
Olson Jeffrey S
DirectorChairman of the Board & CEO
Transactions
- Conversion
Common Shares
[F1][F2]2026-05-07+180,587→ 184,252.47 total - Sale
Common Shares
[F3]2026-05-08$21.73/sh−161,553$3,509,997→ 22,699.47 total - Sale
Common Shares
[F4]2026-05-11$21.62/sh−19,034$411,464→ 3,665.47 total - Conversion
LTIP Units (2021 LTI Perf.)
[F5]2026-05-07−49,032→ 0 total→ Common Shares (49,032 underlying) - Conversion
LTIP Units (2021 LTI Time)
[F6]2026-05-07−128,830→ 0 total→ Common Shares (128,830 underlying) - Conversion
LTIP Units (2022 LTI Time)
[F7]2026-05-07−2,725→ 118,356 total→ Common Shares (2,725 underlying)
Footnotes (7)
- [F1]180,587 LTIP units ("LTIP Units") in Urban Edge Properties LP (the "Partnership"), of which Urban Edge Properties (the "Issuer") is the sole general partner, were exchanged for an equal number of Common Partnership Units ("Common Units") in the Partnership, which were subsequently redeemed for an equal number of common shares of beneficial interest, par value $0.01 ("Common Shares") of the Issuer. Following this conversion, Mr. Olson owns over 2.3 million LTIP Units across numerous tranches of LTIP Unit issuances, including 670,000 unearned performance-based LTIP Units.
- [F2]Total includes Common Shares of the Issuer purchased, if any, through the Issuer's employee stock purchase plan and dividend reinvestment plan.
- [F3]The range of prices for the transaction reported on this line was $21.605 to $22.055. The weighted average price was $21.7266. The reporting person will provide, upon request by the SEC, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
- [F4]The range of prices for the transaction reported on this line was $21.555 to $21.735. The weighted average price was $21.6173. The reporting person will provide, upon request by the SEC, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
- [F5]Represents LTIP Units in the Partnership granted February 10, 2021 pursuant to the Urban Edge Properties 2021 long-term incentive plan under the Urban Edge Properties 2015 Omnibus Plan ("Omnibus Plan") and earned pursuant to the UEP 2015 Outperformance Plan following the achievement of certain relative total shareholder return goals over the three-year period ending February 10, 2024. 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. The rights to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates. 50% of the LTIP Units vested on February 22, 2024 and 25% vested on each of February 10, 2025 and February 10, 2026, respectively.
- [F6]Represents LTIP Units in the Partnership granted February 10, 2021 pursuant to the Urban Edge Properties 2021 long-term incentive plan under the Omnibus Plan. 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. The rights 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 four years, with the initial vesting having occurred on February 10, 2022.
- [F7]Represents LTIP Units in the Partnership granted February 11, 2022 pursuant to the Urban Edge Properties 2022 long-term incentive plan under the Omnibus Plan. 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. The rights 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 four years, with the initial vesting having occurred on February 11, 2023.
Signature
/s/ Heather Ohlberg under POA|2026-05-12