Form 4: COPT Defense Properties Director Redeems Partnership Units for Cash

Robert L. Denton, a director at COPT Defense Properties, redeemed 1,000 common units of limited partnership interest for cash.

Summary

• Robert L. Denton, a director of COPT Defense Properties, redeemed 1,000 common units of limited partnership interest.
• The redemption occurred on November 12, 2024.
• The common units were converted into cash based on the 10-day average closing price of the issuer's common shares on the New York Stock Exchange.
• The price per unit was $32.392.
• Following the transaction, Mr. Denton directly owns 170,764 common shares.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing regarding an insider transaction, which is neither positive nor negative for the company's overall outlook.

Industry Context

This transaction is a routine filing related to insider activity and does not indicate any significant trend in the real estate industry or the company's performance.

Comparison to Industry Standards

• Insider transactions are common in publicly traded companies and are typically reported via SEC filings.
• The redemption of partnership units for cash is a standard mechanism for certain types of equity holdings.
• The price of $32.392 per unit is based on the 10-day average closing price of the issuer's common shares, which is a common valuation method.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard insider transaction.

Key Dates

Keywords

COPT Defense Properties, Robert L. Denton, Common Units, Redemption, Director, Partnership Units, Cash Conversion, SEC Form 4