SEC Form 4 · accession 0001225208-18-015286
Urban Edge Properties · UE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark Langer
Officer — Chief Financial Officer
Period of report
Nov 5, 2018
Accepted (ET)
Nov 7, 2018 · 5:35 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTIP UnitsF1 | — | Nov 5, 2018 | A | 43,048 | A | — | — | Common Shares | 43,048 | 43,048 | D |
Explanation of responses
- F1Granted under the Urban Edge Properties ("UEP") 2015 Omnibus Share Plan and have been earned pursuant to the UEP 2015 Outperformance Plan following the achievement of certain relative total shareholder return goals over the three-year period ending November 5, 2018. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and vesting, each LTIP Unit may be converted, at the election of the holder, into a Common Partnership Unit (a "Common Unit") in Urban Edge Properties LP. Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one Common Share of the UEP. The right to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates. 50% of the LTIP Units vested on November 5, 2018 and 25% will vest on each of November 6, 2019 and November 6, 2020, respectively, subject to continued employment through such dates.