Stephen E. Budorick - Feb 1, 2022 Form 4 Insider Report for CORPORATE OFFICE PROPERTIES TRUST (OFC)

Role
President & CEO
Signature
David L. Finch, by Power of Attorney
Stock symbol
OFC
Transactions as of
Feb 1, 2022
Transactions value $
$0
Form type
4
Date filed
2/3/2022, 02:12 PM
Next filing
Mar 31, 2022

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 OFC Profit Interest Units Award $0 +119K +98.9% $0.00 238K Feb 1, 2022 Common Shares 119K 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.

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.