Form 4: COPT Defense Properties Director Reports Transaction
SEC Form 4 Filing
Director Robert L. Denton reports a transaction involving the conversion of common units into cash based on the issuer's share price.
Summary
- Robert L. Denton, a director of COPT Defense Properties, filed a Form 4.
- The report details a transaction on August 14, 2024, where 1,500 common units of COPT Defense Properties, L.P. were redeemed.
- The issuer elected to pay cash for the conversion of these units, based on the 10-day average closing price of the issuer's common shares on the New York Stock Exchange.
- The conversion price was $28.67 per unit.
- Following the transaction, Denton directly owns 174,764 common shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a transaction by a company director. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor the actions of those with privileged information.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding insider activity.
Key Dates
| Date | Description |
|---|---|
| 08/14/2024 | Date of transaction: Redemption of 1,500 common units. |
| 08/15/2024 | Date of signature for the Form 4 filing. |
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