Jeffrey S. Olson - Feb 22, 2024 Form 4 Insider Report for Urban Edge Properties (UE)

Role: Chairman of the Board & CEO, Director
Signature: /s/ Robert C. Milton III under POA
Stock symbol: UE
Transactions as of: Feb 22, 2024
Transactions value $: $0
Form type: 4
Date filed: 2/23/2024, 05:35 PM
Previous filing: Feb 13, 2024
Next filing: May 17, 2024

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	Award	$0	+91.3K		$0.00	91.3K	Feb 22, 2024	Common Shares	91.3K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Represents LTIP Units granted pursuant to the issuer's 2015 Omnibus Share Plan that have been earned following the achievement of certain relative and absolute total shareholder return metrics over the three-year period ending February 9, 2024, as determined by the compensation committee of the issuer on February 22, 2024. Conditioned upon minimum allocations to the absolute and 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 Partnership Unit (a "Common Unit") in Urban Edge Properties LP. Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one Common Share of the issuer. The right to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates.
F2	50% of the LTIP Units are immediately vested and 25% will vest on each of February 9, 2025 and February 9, 2026, respectively, subject to continued employment through such dates.

Content

Represents LTIP Units granted pursuant to the issuer's 2015 Omnibus Share Plan that have been earned following the achievement of certain relative and absolute total shareholder return metrics over the three-year period ending February 9, 2024, as determined by the compensation committee of the issuer on February 22, 2024. Conditioned upon minimum allocations to the absolute and 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 Partnership Unit (a "Common Unit") in Urban Edge Properties LP. Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one Common Share of the issuer. The right to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates.

50% of the LTIP Units are immediately vested and 25% will vest on each of February 9, 2025 and February 9, 2026, respectively, subject to continued employment through such dates.