STEPHEN E. BUDORICK - 29 Jan 2025 Form 4 Insider Report for COPT DEFENSE PROPERTIES (CDP)

Role: PRESIDENT/CEO, Director
Signature: /s/ David L. Finch, by Power of Attorney
Issuer symbol: CDP
Transactions as of: 29 Jan 2025
Transactions value $: $0
Form type: 4
Filing time: 31 Jan 2025, 15:04:23 UTC
Previous filing: 08 Nov 2024
Next filing: 04 Mar 2025
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	+154K	+23.07%	$0.00	822K	29 Jan 2025	Common Shares	154K		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 COPT Defense 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 COPT Defense Properties, exchangeable for common shares of COPT Defense Properties, currently on a one-for-one basis.
F2	Represents Profit Interest Units issued pursuant to the COPT Defense Properties 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 COPT Defense 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 COPT Defense Properties, exchangeable for common shares of COPT Defense Properties, currently on a one-for-one basis.

Represents Profit Interest Units issued pursuant to the COPT Defense Properties 2017 Omnibus Equity and Incentive Plan.