UDR (UDR) director reports 5,451 Class 1 LTIP Units grant in Form 4

Rhea-AI Filing Summary

UDR, Inc. director Mark R. Patterson reported an equity-based award linked to the company’s stock. On 01/02/2026, he acquired 5,451 Class 1 LTIP Units in United Dominion Realty, L.P. at a price of $0.0000 per unit, increasing his total derivative securities beneficially owned to 33,244.

Each Class 1 LTIP Unit is convertible, after conditions are met, into a Partnership Common Unit, which can then be exchanged for either cash based on the market value of UDR’s common stock or for shares of UDR common stock, at the company’s discretion under the partnership agreement. These Class 1 LTIP Units are scheduled to vest on January 2, 2027.

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^*

Patterson Mark R

(Last) (First) (Middle)

1745 SHEA CENTER DRIVE

SUITE 200

(Street)

HIGHLANDS RANCH CO 80129

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UDR, Inc. [ UDR ]

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)
01/02/2026

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
Class 1 LTIP Units(1)	(2)(3)(4)	01/02/2026		A		5,451(5)		(2)(3)(4)(5)	(4)	Common Stock(2)(3)(4)(5)	5,451	$0.0000	33,244	D

Explanation of Responses:

1. Represents Class 1 LTIP Units in United Dominion Realty, L.P., a Delaware limited partnership (the "UDR Partnership"). UDR, Inc. (the "Company") is the parent company and sole general partner of the UDR Partnership.

2. Subject to the conditions set forth in the Amended and Restated Agreement of Limited Partnership of the UDR Partnership (the "Partnership Agreement") and subject to the vesting conditions specified with respect to each Class 1 LTIP Unit (as described in footnote 5 below), each Class 1 LTIP Unit may be converted, at the election of the holder, into a unit of limited partnership of the UDR Partnership (a "Partnership Common Unit"), provided that such Class 1 LTIP Unit has been outstanding for at least two years from the date of grant.

3. A holder of Partnership Common Units has the right to require the UDR Partnership to redeem all or a portion of the Partnership Common Units held by the holder in exchange for a cash payment based on the market value of the Company's Common Stock at the time of redemption, as defined in the Partnership Agreement (the "Cash Amount"). However, the UDR Partnership's obligation to pay the Cash Amount is subject the prior right of the Company to acquire such Partnership Common Units in exchange for either the Cash Amount or shares of the Company's Common Stock.

4. The Company, as the general partner of the UDR Partnership, may, in its sole discretion, purchase the Partnership Common Units by paying the limited partner either the Cash Amount or the REIT Share Amount (generally one share of the Company's Common Stock for each Partnership Common Unit), as such terms are defined in the Partnership Agreement. The right to convert the Class 1 LTIP Units into Partnership Common Units and the right to receive the Cash Amount or the REIT Share Amount (in the Company's sole discretion) in exchange for Partnership Common Units do not have expiration dates.

5. The Class 1 LTIP Units shall vest on the first anniversary of the vesting commencement date, which is January 2, 2027.

	Mark R. Patterson	01/06/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did UDR (UDR) disclose for Mark R. Patterson?

UDR reported that director Mark R. Patterson acquired 5,451 Class 1 LTIP Units in United Dominion Realty, L.P. on 01/02/2026 at a price of $0.0000 per unit.

How many derivative securities does Mark R. Patterson now beneficially own at UDR?

Following the reported award, Mark R. Patterson beneficially owns 33,244 derivative securities related to UDR’s equity, as shown in the filing.

When do the newly granted Class 1 LTIP Units at UDR vest?

The 5,451 Class 1 LTIP Units granted to Mark R. Patterson are scheduled to vest on January 2, 2027, the first anniversary of the vesting commencement date.

What can UDR Class 1 LTIP Units be converted into?

Subject to conditions and vesting, each Class 1 LTIP Unit may be converted into a Partnership Common Unit, which can then be exchanged for either a cash amount based on the market value of UDR common stock or for shares of UDR common stock, at the company’s discretion.

Does the right to convert UDR Class 1 LTIP Units or redeem Partnership Common Units expire?

The filing states that the right to convert Class 1 LTIP Units into Partnership Common Units and the right to receive cash or UDR common shares in exchange for Partnership Common Units do not have expiration dates.

What is the relationship between UDR, Inc. and United Dominion Realty, L.P. in this award?

UDR, Inc. is described as the parent company and sole general partner of United Dominion Realty, L.P., the partnership that issued the Class 1 LTIP Units reported in this transaction.