4//SEC Filing
TOOMEY THOMAS W 4
Accession 0001664272-24-000402
CIK 0000074208other
Filed
Nov 20, 7:00 PM ET
Accepted
Nov 21, 5:58 PM ET
Size
8.4 KB
Accession
0001664272-24-000402
Insider Transaction Report
Form 4
UDR, Inc.UDR
TOOMEY THOMAS W
DirectorChairman, President and CEO
Transactions
- Gift
Class 2 LTIP Units
2024-11-21+40,835→ 810,900 total→ Common Stock (40,835 underlying)
Footnotes (5)
- [F1]Represents Class 2 LTIP Units (the "Class 2 LTIP Units") in United Dominion Realty, L.P., a Delaware limited partnership (the "UDR Partnership"). UDR, Inc. (the "Company") is the parent company and sole general partner of the UDR Partnership.
- [F2]Subject to the conditions set forth in the Amended and Restated Agreement of Limited Partnership of the UDR Partnership, as amended (the "Partnership Agreement") and subject to the vesting conditions specified with respect to each Class 2 LTIP Unit, each Class 2 LTIP Unit may be converted, at the election of the holder, into a unit of limited partnership of the UDR Partnership (a "Partnership Common Unit"), provided that such Class 2 LTIP Unit has been outstanding for at least two years from the date of grant.
- [F3]A holder of Partnership Common Units has the right to require the UDR Partnership to redeem all or a portion of the Partnership Common Units held by the holder in exchange for a cash payment based on the market value of the Company's Common Stock at the time of redemption, as defined in the Partnership Agreement (the "Cash Amount"). However, the UDR Partnership's obligation to pay the Cash Amount is subject the prior right of the Company to acquire such Partnership Common Units in exchange for either the Cash Amount or shares of the Company's Common Stock.
- [F4]The Company, as the general partner of the UDR Partnership, may, in its sole discretion, purchase the Partnership Common Units by paying the limited partner either the Cash Amount or the REIT Share Amount (generally one share of the Company's Common Stock for each Partnership Common Unit), as such terms are defined in the Partnership Agreement. The right to convert the Class 2 LTIP Units into Partnership Common Units and the right to receive the Cash Amount or the REIT Share Amount (in the Company's sole discretion) in exchange for Partnership Common Units do not have expiration dates.
- [F5]On November 15, 2023, the reporting person contributed 75,000 Class 2 LTIP Units to the "Thomas W. Toomey 2023 Grantor Retained Annuity Trust TD" and 25,000 Class 2 LTIP Units to the "Thomas W. Toomey 2023 Grantor Retained Annuity Trust BDJ" for no consideration. On November 21, 2024, the reporting person received 30,626 Class 2 LTIP Units from the "Thomas W. Toomey 2023 Grantor Retained Annuity Trust TD" and 10,209 Class 2 LTIP Units to the "Thomas W. Toomey 2023 Grantor Retained Annuity Trust BDJ" for no consideration.
Documents
Issuer
UDR, Inc.
CIK 0000074208
Entity typeother
Related Parties
1- filerCIK 0001195697
Filing Metadata
- Form type
- 4
- Filed
- Nov 20, 7:00 PM ET
- Accepted
- Nov 21, 5:58 PM ET
- Size
- 8.4 KB