COPT Defense Properties Director Robert Denton Redeems 1,000 Units for Cash

What Happened
Robert L. Denton, a director of COPT Defense Properties (CDP), disposed of 1,000 convertible common units on 2026-08-06 by converting/redeeming them for cash. The Form 4 reports the transaction as a derivative conversion (reported price $0.00 because the units were converted rather than an open-market sale). The issuer elected to pay cash based on the 10‑day average closing price of CDP common shares; the filing does not state the dollar amount received.

Key Details

• Transaction date: 2026-08-06; Form filed: 2026-08-07 (timely filing).
• Reported transaction type: conversion of derivative security (conversion/redeem of 1,000 common units). Reported price shown as $0.00 because cash payment was determined by the issuer after conversion.
• Cash payout method: issuer elected cash in lieu of issuing common shares, calculated using the 10‑day average NYSE closing price (footnote F1).
• Common Units convertible upon issuance and have no expiration (footnote F2/F1).
• Shares owned after the transaction: not specified in the provided filing.

Context
This was a monetization of convertible limited partnership units (a disposition), not a purchase—common for holders converting units to cash. The filing shows no 10b5-1 plan, tax-withholding sale, or other special notation. Because the issuer chose cash at conversion, there was no issuance of new common shares to the reporting person.