STEPHEN E. BUDORICK - 01 Feb 2022 Form 4 Insider Report for CORPORATE OFFICE PROPERTIES TRUST (CDP)

Role: President & CEO
Signature: David L. Finch, by Power of Attorney
Issuer symbol: CDP
Transactions as of: 01 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 03 Feb 2022, 14:12:31 UTC
Next filing: 31 Mar 2022
SEC: View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CDP	Profit Interest Units	Award	$0	+118,526	+99%	$0.000000	238,365	01 Feb 2022	Common Shares	118,526		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Profit Interest Unit will convert automatically into one share of beneficial interest, designated as a unit (an "OP Unit"), in Corporate Office 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 Corporate Office Properties Trust, exchangeable for common shares of Corporate Office Properties Trust, currently on a one-for-one basis.
F2	Represents Profit Interest Units issued pursuant to the Corporate Office Properties Trust 2017 Omnibus Equity and Incentive Plan.

Content

Each Profit Interest Unit will convert automatically into one share of beneficial interest, designated as a unit (an "OP Unit"), in Corporate Office 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 Corporate Office Properties Trust, exchangeable for common shares of Corporate Office Properties Trust, currently on a one-for-one basis.

Represents Profit Interest Units issued pursuant to the Corporate Office Properties Trust 2017 Omnibus Equity and Incentive Plan.

Remarks:

This form amends the report to (i) remove an award of securities erroneously reported as restricted shares on Table I and update the total amount of securities beneficially owned following the reported transaction and (ii) report such award of securities as Profit Interest Units (as described below) on Table II.