Form 4: UDR Inc. Director Acquires Long-Term Incentive Plan Units

Mark R. Patterson, a director of UDR Inc., reports the acquisition of 4,703 Class 1 LTIP Units on January 2, 2025, which are convertible into partnership common units and ultimately redeemable for cash or UDR common stock.

Summary

• On January 2, 2025, Mark R. Patterson, a director of UDR, Inc., acquired 4,703 Class 1 LTIP Units.
• These LTIP Units are in United Dominion Realty, L.P., where UDR, Inc. is the parent company and sole general partner.
• Each Class 1 LTIP Unit can be converted into a partnership common unit after being outstanding for at least two years from the grant date, subject to certain conditions.
• Holders of partnership common units can redeem them for a cash payment based on the market value of UDR's common stock.
• UDR, Inc. has the right to acquire these partnership common units in exchange for either the cash amount or shares of its common stock.
• The Class 1 LTIP Units will vest on the first anniversary of the vesting commencement date, which is January 2, 2026.
• Following the transaction, Patterson directly owns 27,793 shares of UDR common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard transaction related to executive compensation, indicating a neutral to slightly positive sentiment as it suggests continued alignment of interests between the director and the company's performance.

Positives

• The acquisition of LTIP units aligns the director's interests with the long-term performance of the company.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting of LTIP units suggests an expectation of continued service and contribution from the director.

Industry Context

This filing is a routine disclosure related to executive compensation and ownership, common in publicly traded companies like UDR, Inc., to ensure transparency and compliance with SEC regulations.

Stakeholder Impact

• The acquisition of LTIP units by a director can positively influence shareholder confidence by aligning management's interests with those of the shareholders.

Key Dates