Form 4: Urban Edge Properties Director Acquires 8,005 LTIP Units

Director Norman K. Jenkins acquired 8,005 LTIP units in Urban Edge Properties' operating partnership, UELP, under the company's 2024 Omnibus Share Plan.

Summary

• On May 6, 2024, Norman K. Jenkins, a director of Urban Edge Properties, acquired 8,005 LTIP Units of Urban Edge Properties LP (UELP).
• The acquisition was made under the Urban Edge Properties 2024 Omnibus Share Plan.
• These LTIP Units are a class of units of UELP that, upon vesting and the occurrence of certain events, are convertible into Common Partnership Units of UELP.
• Common Units are redeemable for cash or, at Urban Edge Properties' election, common shares on a one-for-one basis.
• The LTIP Units vest on May 7, 2025, contingent upon Jenkins continuing to serve on the Board of Trustees until that date.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns director interests with company performance.

Positives

• The acquisition of LTIP units by a director signals confidence in the company's future performance.
• The vesting condition of continued service on the Board of Trustees aligns the director's interests with the long-term success of the company.

Future Outlook

The vesting of the LTIP units on May 7, 2025, is contingent upon the reporting person continuing to serve on UE's Board of Trustees until such date.

Industry Context

This transaction is a routine part of executive compensation and aligns with industry practices for incentivizing board members through equity-based awards.

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