[Form 4] COPT DEFENSE PROPERTIES Insider Trading Activity

Rhea-AI Filing Summary

Lisa G. Trimberger, a director of COPT Defense Properties (CDP), reported two open-market disposals on 09/17/2025 totaling 7,896 common shares — 4,896 shares sold at $30.72 and 3,000 shares sold at $30.52. After the transactions she directly beneficially owns 20,287 shares. A footnote states the 3,000 shares sold were owned by a limited liability company controlled by the reporting person and her spouse. The Form 4 was signed by a power of attorney on 09/18/2025. The filing shows routine director stock sales without additional context or commentary.

Positive

• None.

Negative

• Insider selling: Director disposed of 7,896 shares on 09/17/2025, reducing her holdings.
• Limited context: Form provides no explanation for the sales or percentage ownership relative to outstanding shares.

Insights

Securities Analyst

TL;DR: Director sold 7,896 shares in two transactions, modest insider selling but not clearly material to valuation.

The filing documents two open-market sales by a company director on 09/17/2025 for aggregate proceeds of approximately $241,600 (7,896 shares at roughly $30.6 each). Such sales are common for liquidity or diversification reasons. The reported remaining direct holding of 20,287 shares indicates the director retains an economic interest in the company. The filing does not disclose any planned sales, grants, or derivative transactions that would change ongoing ownership beyond these disposals.

Corporate Governance Expert

TL;DR: Director disposition includes shares held by an LLC she controls with her spouse; disclosure is clear and routine.

The footnote clarifies that the 3,000-share disposal involved an LLC controlled by the reporting person and her spouse, which is an appropriate disclosure of indirect holdings. The Form 4 is properly executed via power of attorney. There is no indication of related-party transactions, option exercises, or other governance events in this filing. Material context such as percentage ownership or reasons for the sales is not provided in the form itself.

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).

1. Name and Address of Reporting Person^*

Trimberger Lisa G

(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)
09/17/2025

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
Common Shares	09/17/2025		S		4,896	D	$30.72	20,287	D
Common Shares	09/17/2025		S		3,000	D	$30.52	0(1)	I	See footnote

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

Explanation of Responses:

1. Shares disposed of were owned by limited liability company controlled by the reporting person and her spouse.

	/s/ David L. Finch by Power of Attorney	09/18/2025
	** 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 did Lisa G. Trimberger report on Form 4 for CDP?

She reported two sales on 09/17/2025 totaling 7,896 common shares at prices of $30.72 and $30.52.

How many shares does the reporting person own after the transactions?

After the reported transactions the reporting person directly beneficially owns 20,287 shares.

Were any of the sold shares held indirectly?

Yes. A footnote states the 3,000 shares sold were owned by a limited liability company controlled by the reporting person and her spouse.

When was the Form 4 filed or signed?

The Form 4 shows the power-of-attorney signature dated 09/18/2025 for transactions dated 09/17/2025.

What prices were the shares sold at?

The reported sale prices were $30.72 and $30.52 per share.