[Form 4] COPT DEFENSE PROPERTIES Insider Trading Activity

COPT Defense Properties director Robert L. Denton converted partnership units into cash.

Rhea-AI Filing Summary

COPT Defense Properties director Robert L. Denton converted partnership units into cash. He redeemed 1,000 Common Units of limited partnership interest in COPT Defense Properties, L.P., which are convertible into an equal number of the company’s common shares of beneficial interest or, at the company’s election, cash.

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. Common Units are convertible upon issuance and have no expiration date. Following this conversion, Denton directly holds 143,264 Common Units.

Insider Trade Summary

0 shares exercised/converted

Exercise 1 txn

Insider DENTON ROBERT L

Role Director

Type	Security	Shares	Price	Value
Conversion	Common Units-CDPLP	0	$0.00	$0.00

Holdings After Transaction: Common Units-CDPLP — 143,264 contracts (Direct)

Footnotes (2)

1. F1. The reporting person redeemed 1000 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 1000 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. F2. Common Units are convertible upon issuance.

Key Figures

Common Units converted: 1,000 units Conversion price reference: $32.2210 per unit Units after transaction: 143,264 units +1 more

4 metrics

Common Units converted 1,000 units Redeemed and settled in cash based on 10-day average price

Conversion price reference $32.2210 per unit Conversion or exercise price stated for Common Units

Units after transaction 143,264 units Common Units directly held by Denton following conversion

Underlying common shares 1,000 shares Each Common Unit convertible into one common share or cash

Key Terms

Common Units, limited partnership interest, common shares of beneficial interest, 10-day average closing price

4 terms

Common Units financial

"The reporting person redeemed 1000 common units of limited partnership interest ("Common Units")"

Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.

limited partnership interest financial

"1000 common units of limited partnership interest ("Common Units") of COPT Defense Properties, L.P."

common shares of beneficial interest financial

"convertible into an equal number of the issuer's common shares of beneficial interest or, at the election of the issuer, cash"

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

10-day average closing price financial

"based on the 10-day average closing price of the issuer's common shares on the New York Stock Exchange"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did COPT Defense Properties (CDP) report for Robert L. Denton?

COPT Defense Properties reported that director Robert L. Denton redeemed 1,000 Common Units of limited partnership interest. These units were converted with the issuer electing to pay cash based on the 10-day average closing price of its common shares on the New York Stock Exchange.

How many COPT Defense Properties Common Units did Robert L. Denton convert?

Robert L. Denton converted 1,000 Common Units of limited partnership interest. Each Common Unit is convertible into one common share of beneficial interest or, at the issuer’s election, cash equal to the fair market value of that share, according to the filing’s footnotes.

How were the proceeds from Robert L. Denton’s COPT Defense Properties unit conversion determined?

The issuer elected to pay cash for Denton’s 1,000 converted Common Units. The cash amount was based on the 10-day average closing price of COPT Defense Properties’ common shares on the New York Stock Exchange, reflecting the fair market value over that period.

What does it mean that COPT Defense Properties Common Units are convertible upon issuance?

Convertible upon issuance means Common Units can be turned into common shares or cash immediately after they are issued. For COPT Defense Properties, each Common Unit may become one common share of beneficial interest or equivalent cash, depending on the issuer’s election in each case.

Do COPT Defense Properties Common Units have an expiration date?

COPT Defense Properties’ Common Units have no expiration date. According to the filing, these units remain outstanding indefinitely and are convertible into common shares of beneficial interest or cash whenever conversion occurs, subject to the issuer’s election on the form of consideration.

How many COPT Defense Properties Common Units does Robert L. Denton hold after this transaction?

After this transaction, Robert L. Denton directly holds 143,264 Common Units. This figure represents his remaining partnership interest units following the redemption and cash conversion of 1,000 Common Units as reported in the Form 4 filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/30/2026 - 03:10 PM EDT Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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 MARYLAND 21046

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/29/2026

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

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

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

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	$32.221	04/29/2026		C(1)	V		0	(2)	(1)	Common Shares	1,000	$0	143,264	D

Explanation of Responses:

1. The reporting person redeemed 1000 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 1000 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.

Remarks:

	/s/ David L. Finch, Attorney-in-Fact	04/30/2026
	** 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).
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.
* Form 4: SEC 1474 (03-26)