Jeffrey S. Olson - Dec 10, 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: Dec 10, 2024
Transactions value $: -$5,388,000
Form type: 4
Date filed: 12/12/2024, 05:14 PM
Previous filing: Dec 6, 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	+240K	+12430.08%	$0.00	242K	Dec 10, 2024	Direct	F1, F2
transaction	UE	Common Shares	Sale	-$5.39M	-240K	-99.2%	$22.45	1.93K	Dec 11, 2024	Direct	F2, F3

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	-209K	-100%	$0.00	0	Dec 10, 2024	Common Shares	209K		Direct	F4
transaction	UE	LTIP Units	Conversion of derivative security	$0	-30.8K	-50.06%	$0.00	30.7K	Dec 10, 2024	Common Shares	30.8K		Direct	F5

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

Explanation of Responses:

Id	Content
F1	240,000 LTIP units ("LTIP Units") in Urban Edge Properties LP (the "Partnership"), of which Urban Edge Properties (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. Following this conversion, Mr. Olson will own 1,877,453 LTIP Units across numerous tranches of LTIP Unit issuances.
F2	Total includes Common Shares of the Issuer purchased, if any, through the Issuer's employee stock purchase plan and dividend reinvestment plan.
F3	The range of prices for the transaction reported on this line was $22.33 to $22.62. The weighted average price was $22.45. The reporting person will provide, upon request by the SEC, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F4	Represents LTIP Units granted pursuant to the Urban Edge Properties 2015 Omnibus Plan (the "Omnibus Plan"). 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. The rights to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates. The LTIP Units vested on February 17, 2015.
F5	Represents LTIP Units granted pursuant to the Omnibus Plan and 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. 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. The rights 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 vested on November 5, 2018 and 25% vested on each of November 6, 2019 and November 6, 2020, respectively.