Danielle de Vita - 10 Feb 2023 Form 4 Insider Report for Urban Edge Properties (UE)

Reporting relationship: EVP of Development
Issuer ticker: UE
Reported as of: 10 Feb 2023
Net transaction value: $0
SEC form: 4
Accepted by SEC: 14 Feb 2023, 16:16:26 UTC
Prior SEC filing: 15 Feb 2022
Source filing: View source filing
Reporting owner signature: /s/ Robert C. Milton III under POA

Key filing fact

Danielle de Vita filed Form 4 for Urban Edge Properties (UE) on 14 Feb 2023.

Key facts

This page summarizes Danielle de Vita's Form 4 filing for Urban Edge Properties (UE).
2 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 14 Feb 2023, 16:16.

Change

Previous filing in this sequence was filed on 15 Feb 2022.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

UE transaction Derivative

LTIP Units (2023 LTI Perf.)

Award

Transaction value: $0
Shares: +4,287
Change %
Price: $0.000000
Shares after: 4,287
Date: 10 Feb 2023
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 4,287
Exercise price
Footnotes: F1, F2, F3

UE transaction Derivative

LTIP Units (2023 LTI Time)

Award

Transaction value: $0
Shares: +12,280
Change %
Price: $0.000000
Shares after: 12,280
Date: 10 Feb 2023
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 12,280
Exercise price
Footnotes: F1, F2, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

Represents LTIP Units in Urban Edge Properties LP granted pursuant to the Urban Edge Properties 2023 long-term incentive plan (the "2023 LTI Plan") under the Urban Edge Properties 2015 Omnibus Share Plan. The 2023 LTI Plan is comprised of LTIP Units that vest solely based on time, which we refer to as "2023 LTI Time" in Table II and those that vest subject to both time and performanced hurdles, which we refer to as "2023 LTI Perf." in Table II.

Footnote 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.

Footnote F3

The LTIP Units are scheduled to vest 50% on February 10, 2026 and 25% on each of February 10, 2027 and February 10, 2028, 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 10, 2026. Excludes 16,015 LTIP units granted under the 2023 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.

Footnote F4

The LTIP Units vest ratably over three years, subject to continued employment through each vesting date, with the initial vesting occurring on February 10, 2024.