COPT Defense Properties (CDP) director redeems 1,500 LP units, holds 148,764 shares

Rhea-AI Filing Summary

COPT Defense Properties director reports partnership unit redemption and cash settlement. A reporting person serving as a director of COPT Defense Properties (ticker CDP) converted 1,500 Common Units of limited partnership interest in COPT Defense Properties, L.P. on 12/03/2025. These Common Units are convertible into an equal number of the company’s common shares or, at the company’s election, into cash equal to the fair market value of those shares. For this transaction, the company chose to pay cash based on the 10-day average closing price of its common shares on the New York Stock Exchange. Following the transaction, the reporting person beneficially owned 148,764 common shares, held directly. The Common Units are convertible upon issuance and have no expiration date.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DENTON ROBERT L

(Last) (First) (Middle)

6711 COLUMBIA GATEWAY DRIVE

SUITE 300

(Street)

COLUMBIA MD 21046

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COPT DEFENSE PROPERTIES [ CDP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Units-CDPLP	$30.197	12/03/2025		C(1)	V		1,500	(2)	(1)	Common Shares	1,500	$0	148,764	D

Explanation of Responses:

1. The reporting person redeemed 1,500 common units of limited partnership interest ("Common Units") of COPT Defense Properties, L.P., of which the issuer is the general partner. Common Units are convertible into an equal number of the issuer's common shares of beneficial interest or, at the election of the issuer, cash equal to the fair market value of such shares. In the case of these 1,500 Common Units, the issuer elected to pay cash upon the conversion of the reporting person's Common Units, based on the 10-day average closing price of the issuer's common shares on the New York Stock Exchange. Common Units have no expiration date.

2. Common Units are convertible upon issuance.

	/s/ David L. Finch, Attorney-in-Fact	12/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did COPT Defense Properties (CDP) report in this Form 4?

The filing reports that a director converted 1,500 Common Units of limited partnership interest in COPT Defense Properties, L.P. on 12/03/2025, with the company electing to settle the conversion in cash.

How are the Common Units related to COPT Defense Properties (CDP) common shares?

Each Common Unit of COPT Defense Properties, L.P. is convertible into an equal number of the issuer’s common shares of beneficial interest or, at the issuer’s election, into cash equal to the fair market value of such shares.

Did COPT Defense Properties pay cash or shares for the 1,500 Common Units conversion?

For this transaction, COPT Defense Properties elected to pay cash upon conversion of the 1,500 Common Units, using the 10-day average closing price of its common shares on the New York Stock Exchange to determine the payment amount.

How many COPT Defense Properties shares does the reporting person own after this transaction?

After the reported conversion and cash settlement, the reporting person beneficially owned 148,764 common shares of COPT Defense Properties, held directly.

Do the Common Units in COPT Defense Properties, L.P. have an expiration date?

No. The filing states that the Common Units have no expiration date and are convertible upon issuance.

What is the derivative security reported for COPT Defense Properties (CDP) in this filing?

The derivative security reported is Common Units-CDPLP, with an exercise or conversion price of $30.197 and underlying 1,500 common shares associated with the reported transaction.