COPT Defense EVP granted shares and units
COPT Defense Properties EVP & COO Britt A. Snider received equity awards as part of employment compensation.
Rhea-AI Filing Summary
COPT Defense Properties EVP & COO Britt A. Snider received equity awards as part of employment compensation. The grants included 3,734 Profit Interest Units and 11,203 common shares, both at a stated price of $0.0000 per unit or share.
The Profit Interest Units were issued under the COPT Defense Properties 2017 Omnibus Equity and Incentive Plan and will vest in three equal installments over a three-year period. Once vested and capital accounts are equalized, each Profit Interest Unit automatically converts into one OP Unit, which can be redeemed for cash or, at the company’s option, exchanged one-for-one for common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Profit Interest Units | 3,734 | $0.00 | $0.00 |
| Grant/Award | Common Shares | 11,203 | $0.00 | $0.00 |
Footnotes (4)
- F1. Received as employment compensation.
- F2. Each Profit Interest Unit will convert automatically into one share of beneficial interest, designated as a unit (an "OP Unit"), in COPT Defense Properties, L.P. when such Profit Interest Unit becomes vested and upon equalization of its capital account balance. OP Units are redeemable for cash, or, at the option of COPT Defense Properties, exchangeable for common shares of COPT Defense Properties, currently on a one-for-one basis.
- F3. Represents Profit Interest Units issued pursuant to the COPT Defense Properties 2017 Omnibus Equity and Incentive Plan.
- F4. The Profit Interest Units will vest in three equal installments over a three-year period.
FAQ
What did COPT Defense Properties EVP & COO Britt A. Snider receive in this Form 4 for CDP?
How do the Profit Interest Units reported for CDP in this filing work?
Over what period do Britt A. Snider’s Profit Interest Units in COPT Defense Properties vest?
Were the equity awards to Britt A. Snider open-market purchases of CDP stock?
Which plan authorized the Profit Interest Units granted to the COPT Defense EVP & COO?
AI-generated analysis. How Rhea-AI works. Not financial advice.