Tracy L. Hofmeister - 21 Jul 2022 Form 4 Insider Report for UDR, Inc. (UDR)

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	UDR	Stock Option (right to buy)	Award	$0	+101,833		$0.000000	101,833	21 Jul 2022	Common Stock	101,833	$45.69	Direct	F1
transaction	UDR	Stock Option (right to buy)	Award	$0	+10,638	+10%	$0.000000	112,471	21 Jul 2022	Common Stock	10,638	$45.69	Direct	F2
transaction	UDR	Stock Option (right to buy)	Award	$0	+10,493	+9.3%	$0.000000	122,964	21 Jul 2022	Common Stock	10,493	$45.69	Direct	F3

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

Id	Content
F1	Subject to the reporting person's continued employment, the grant will vest on the date that the Company's Compensation Committee determines performance five years after the grant date (the "Determination Date"), based on achievement of pre-determined performance metrics over five measurement periods of one year each, beginning July 1 and ending June 30, with 50 percent based on a goal measured by the Company's relative FFO as Adjusted growth rate as compared to an apartment peer group and 50 percent based on a goal measured by the Company's absolute FFO as Adjusted growth rate.
F2	Subject to the reporting person's continued employment, the grant will vest on the first anniversary of the Determination Date in an amount determined based on the percentage of the award referenced in footnote 1 that vests on the Determination Date.
F3	Subject to the reporting person's continued employment, the grant will vest on the second anniversary of the Determination Date in an amount determined based on the percentage of the award referenced in footnote 1 that vests on the Determination Date.