COPT Defense Properties (CDP) director redeems 2,000 Common Units for cash

Rhea-AI Filing Summary

COPT Defense Properties director Robert L. Denton reported a derivative conversion involving 2,000 Common Units of COPT Defense Properties, L.P. These Common Units were redeemed, and the issuer chose to pay cash based on the 10-day average closing price of its common shares on the NYSE.

Each Common Unit is convertible into either one common share of beneficial interest or cash at the issuer’s election, and the units have no expiration date. After this transaction, Denton directly held 144,264 Common Units.

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)
03/03/2026

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	$32.023	03/03/2026		C(1)	V		2,000	(2)	(1)	Common Shares	2,000	$0	144,264	D

Explanation of Responses:

1. The reporting person redeemed 2000 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 2000 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	03/04/2026
	** 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).
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FAQ

What insider transaction did CDP director Robert L. Denton report?

Robert L. Denton reported a derivative conversion of 2,000 Common Units of COPT Defense Properties, L.P. The issuer redeemed these units and elected to pay cash instead of issuing common shares, based on a 10-day average NYSE closing price.

How many COPT Defense Properties Common Units did Denton hold after the Form 4 transaction?

After the reported transaction, Robert L. Denton directly held 144,264 Common Units of COPT Defense Properties, L.P. This figure reflects his ownership following the 2,000-unit redemption and cash payment elected by the issuer under the partnership’s conversion terms.

What are CDP’s Common Units and how can they be converted?

COPT Defense Properties’ Common Units represent limited partnership interests in its operating partnership. Each Common Unit is convertible into an equal number of common shares of beneficial interest or, at the issuer’s election, into cash equal to the fair market value of those shares, with no expiration date.

How was the cash payment for Denton’s 2,000 Common Units determined?

The cash payment for Robert L. Denton’s 2,000 Common Units was based on the 10-day average closing price of COPT Defense Properties’ common shares on the New York Stock Exchange, as elected by the issuer instead of delivering common shares upon conversion.

Do COPT Defense Properties’ Common Units have an expiration date?

The Common Units of COPT Defense Properties, L.P. have no expiration date. They remain outstanding indefinitely and are convertible upon issuance into either common shares of beneficial interest or cash, at the issuer’s election, according to the partnership’s stated terms.

Was Denton’s Form 4 transaction a market purchase or sale of CDP stock?

Denton’s Form 4 reports a derivative conversion and redemption of 2,000 Common Units, not an open-market stock trade. The issuer elected to settle the conversion in cash, using the 10-day average NYSE closing price of its common shares for valuation.