Form 4: COPT Defense Properties Director Denton Redeems Common Units for Cash

Director Robert L. Denton redeemed 1,500 common units of COPT Defense Properties, L.P. for cash based on the issuer's election.

Summary

• On October 30, 2024, Robert L. Denton, a director of COPT Defense Properties, redeemed 1,500 common units of limited partnership interest in COPT Defense Properties, L.P.
• The issuer, COPT Defense Properties, elected to pay cash for the conversion of these units.
• The cash payment was based on the 10-day average closing price of the issuer's common shares on the New York Stock Exchange.
• The price per common unit was $32.23.
• Following the transaction, Denton directly owns 171,764 common shares.
• The common units are convertible into an equal number of the issuer's common shares or cash at the issuer's election and have no expiration date.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing a transaction by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

Form 4 filings are standard disclosures for insiders, providing transparency into their transactions and holdings in the company. This transaction reflects a director's decision to convert partnership units into cash, which could be influenced by personal financial planning or market conditions.

Key Dates