Herbert Eilberg - Feb 11, 2022 Form 4 Insider Report for Urban Edge Properties (UE)

Role: Chief Investment Officer
Signature: /s/ Robert C. Milton III under POA
Stock symbol: UE
Transactions as of: Feb 11, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/15/2022, 04:28 PM
Next filing: Mar 2, 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	UE	LTIP Units (2022 LTI Perf.)	Award	$0	+11.9K		$0.00	11.9K	Feb 11, 2022	Common Shares	11.9K		Direct	F1, F2, F3
transaction	UE	LTIP Units (2022 LTI Time)	Award	$0	+23.4K		$0.00	23.4K	Feb 11, 2022	Common Shares	23.4K		Direct	F1, F2, F4

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

Explanation of Responses:

Id	Content
F1	Represents LTIP Units in Urban Edge Properties LP granted pursuant to the Urban Edge Properties 2022 long-term incentive plan (the "2022 LTI Plan") under the Urban Edge Properties 2015 Omnibus Share Plan. The 2022 LTI Plan is comprised of LTIP Units that vest solely based on time, which we refer to as "2022 LTI Time" in Table II and those that vest subject to both time and performanced hurdles, which we refer to as "2022 LTI Perf." in Table II.
F2	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, at the election of the holder, into a Common Unit. Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one Common Share of Urban Edge Properties (the "Issuer"). LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The right to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates.
F3	The LTIP Units are scheduled to vest 50% on February 11, 2025 and 25% on each of February 11, 2026 and February 11, 2027, subject to continued employment through such dates and the achievement of certain performance based criteria based on the Issuer's total return to shareholders through February 11, 2025. Excludes 25,658 LTIP units granted under the 2022 LTI Plan the vesting of which is subject to conditions that are not tied solely to the market price of an equity security of the Issuer.
F4	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, at the election of the holder, into a Common Unit. Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one Common Share of the Issuer. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The right to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates. The LTIP Units vest ratably over three years, subject to continued employment through each vesting date, with the initial vesting occurring on February 11, 2023.