Robert C. Milton III - Feb 16, 2023 Form 4 Insider Report for Urban Edge Properties (UE)

Role
General Counsel and Secretary
Signature
/s/ Robert C. Milton III
Stock symbol
UE
Transactions as of
Feb 16, 2023
Transactions value $
-$316,660
Form type
4
Date filed
2/21/2023, 05:56 PM
Previous filing
Feb 14, 2023
Next filing
Feb 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UE Common Shares Conversion of derivative security $0 +20K $0.00 20K Feb 16, 2023 Direct F1
transaction UE Common Shares Sale -$317K -20K -100% $15.83 0 Feb 17, 2023 Direct

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 Conversion of derivative security $0 -6.03K -76.32% $0.00 1.87K Feb 16, 2023 Common Shares 6.03K Direct F2
transaction UE LTIP Units Conversion of derivative security $0 -12.2K -100% $0.00* 0 Feb 16, 2023 Common Shares 12.2K Direct F3
transaction UE LTIP Units (2018 LTI Time) Conversion of derivative security $0 -1.77K -100% $0.00* 0 Feb 16, 2023 Common Shares 1.77K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 20,000 LTIP units ("LTIP Units") in Urban Edge Properties LP (the "Partnership"), of which the Issuer is the sole general partner, were exchanged for an equal number of Common Partnership Units ("Common Units") in the Partnership, which were subsequently redeemed for an equal number of common shares of beneficial interest, par value $0.01 ("Common Shares") of the Issuer.
F2 Represents LTIP Units granted pursuant to the Urban Edge Properties 2015 Omnibus Plan (the "Omnibus Plan"). The LTIP Units vested ratably over three years, with the initial vesting occurring on February 27, 2020. 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.
F3 Represents LTIP Units in the Partnership granted under the Omnibus Plan and that were earned pursuant to the UEP 2015 Outperformance Plan following the achievement of certain relative total shareholder return goals over the three-year period ending November 5, 2018. 50% of the LTIP Units vested on November 5, 2018 and 25% vested on each of November 6, 2019 and November 6, 2020, respectively. 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.
F4 Represents LTIP Units in the Partnership granted pursuant to the Urban Edge Properties 2018 long-term incentive plan under the Omnibus Plan. The LTIP Units vested ratably over three years, with the initial vesting occurring on February 22, 2019. 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.