SEC Form 4 · accession 0001140361-15-007972
Urban Edge Properties · UE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey S Olson
Officer — Chairman of the Board & CEO · Director
Period of report
Feb 17, 2015
Accepted (ET)
Feb 19, 2015 · 4:48 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001611547
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| UnitsF1 | — | Feb 17, 2015 | A | 209,213 | A | — | — | Common Shares | 209,213 | 209,213 | D |
| OptionsF2 | $23.899 | Feb 17, 2015 | A | 2,092,137 | A | — | Feb 16, 2025 | Common Shares | 2,092,137 | 2,092,137 | D |
Explanation of responses
- F1On February 17, 2015, the reporting person received a grant of LTIP Units ("LTIP Units") of Urban Edge Properties LP ("UELP"), the operating partnership of Urban Edge Properties ("UE"), pursuant to the Urban Edge Properties 2015 Omnibus Share Plan (the "Plan"). The LTIP Units are a class of units of UELP that following the occurrence of certain events and upon vesting are convertible by the holder into an equivalent number of Common Partnership Units of UELP ("Common Units"). Common Units are redeemable by the holder for cash or, at UE's election, common shares, par value $0.01 ("Common Shares") of UE on a one-for-one basis or the cash value of such shares. The LTIP Units vested on February 17, 2015.
- F2On February 17, 2015, the reporting person received a grant of options to purchase Common Shares under the terms of the Plan. The options vest 25% on the third anniversary of the grant date, 25% on the fourth anniversary of the grant date and 50% on the fifth anniversary, subject to continued employment through each vesting date.