David R. Lukes - 15 Oct 2024 Form 4 Insider Report for Curbline Properties Corp. (CURB)

Role: President & CEO, Director
Signature: /s/ Tammy Battler, Attorney-In-Fact
Issuer symbol: CURB
Transactions as of: 15 Oct 2024
Net transactions value: $0
Form type: 4
Filing time: 17 Oct 2024, 16:30:09 UTC
Previous filing: 03 Oct 2024
Next filing: 12 Dec 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CURB	Common Stock	Award		+527,381	+86%		1,137,187	15 Oct 2024	Direct	F1, F2, F3

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
holding	CURB	LTIP Units						116,532	15 Oct 2024	Common Stock	116,532		Direct	F4, F5

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

Explanation of Responses:

Id	Content
F1	On October 1, 2024, SITE Centers Corp. ("SITE Centers") completed the spin-off of the Issuer (the "Spin-Off"). In connection with the Spin-Off, the reporting person's performance-based SITE Centers restricted share units and time-based restricted share units were equitably adjusted into a corresponding number of Issuer restricted stock units with substantially the same terms, vesting conditions and other restrictions as applied to the original awards.
F2	Equitable adjustment of the SITE Centers awards is described in the Employee Matters Agreement, dated as of October 1, 2024, by and among SITE Centers, the Issuer and Curbline Properties LP, which is filed by the Issuer with the Securities and Exchange Commission.
F3	Includes 609,806 shares of common stock of the Issuer acquired in a pro rata distribution of Issuer common stock from SITE Centers in the Spin-Off. Such amount of shares is estimated as of October 15, 2024 based on preliminary information regarding the Spin-Off. Final amounts, if different, will be reported in a subsequent filing.
F4	Reflects a class of limited partnership units in Curbline Properties LP ("LTIP Units"). 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 into a common unit in Curbline Properties LP (a "Common Unit"). Each Common Unit acquired upon conversion of an LTIP Unit may be redeemed for one share of Issuer common stock or cash, at the election of the Issuer. The right to convert LTIP Units into Common Units and to convert Common Units into Issuer common stock do not have expiration dates.
F5	Represents LTIP Units that generally vest over four years (referred to as a Salary Equity Award), reflecting the equivalent of an annual salary of $750,000 per year over three years, plus a 20% premium due to the form of payment being made in LTIP Units rather than cash.