Olson Jeffrey S 4

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.