0001225208-23-001919.txt : 20230214
0001225208-23-001919.hdr.sgml : 20230214
20230214171557
ACCESSION NUMBER: 0001225208-23-001919
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230210
FILED AS OF DATE: 20230214
DATE AS OF CHANGE: 20230214
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Olson Jeffrey S
CENTRAL INDEX KEY: 0001374811
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36523
FILM NUMBER: 23631603
MAIL ADDRESS:
STREET 1: 1600 NE MIAMI GARDENS
CITY: NORTH MIAMI BEACH
STATE: FL
ZIP: 33179
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Urban Edge Properties
CENTRAL INDEX KEY: 0001611547
STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500]
IRS NUMBER: 476311266
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 210 ROUTE 4 EAST
CITY: PARAMUS
STATE: NJ
ZIP: 07652
BUSINESS PHONE: 201-587-1000
MAIL ADDRESS:
STREET 1: 210 ROUTE 4 EAST
CITY: PARAMUS
STATE: NJ
ZIP: 07652
FORMER COMPANY:
FORMER CONFORMED NAME: Vornado SpinCo
DATE OF NAME CHANGE: 20140623
4
1
doc4.xml
X0306
4
2023-02-10
0001611547
Urban Edge Properties
UE
0001374811
Olson Jeffrey S
C/O URBAN EDGE PROPERTIES
210 ROUTE 4 EAST
PARAMUS
NJ
07652
1
1
Chairman of the Board & CEO
LTIP Units (2023 LTI Perf.)
2023-02-10
4
A
0
51322.0000
0.0000
A
Common Shares
51322.0000
51322.0000
D
LTIP Units (2023 LTI Time)
2023-02-10
4
A
0
145284.0000
0.0000
A
Common Shares
145284.0000
145284.0000
D
Represents LTIP Units in Urban Edge Properties LP granted pursuant to the Urban Edge Properties 2023 long-term incentive plan (the "2023 LTI Plan") under the Urban Edge Properties 2015 Omnibus Share Plan. The 2023 LTI Plan is comprised of LTIP Units that vest solely based on time, which we refer to as "2023 LTI Time" in Table II and those that vest subject to both time and performanced hurdles, which we refer to as "2023 LTI Perf." in Table II.
Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes and vesting, each LTIP Unit may be converted, at the election of the holder, into a Common Unit. Each Common Unit acquired upon conversion of an LTIP Unit may be converted into one Common Share of Urban Edge Properties (the "Issuer"). LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The right to convert LTIP Units into Common Units and to convert Common Units into Common Shares do not have expiration dates.
The LTIP Units are scheduled to vest 50% on February 10, 2026 and 25% on each of February 10, 2027 and February 10, 2028, subject to continued employment through such dates and the achievement of certain performance based criteria based on the Issuer's total return to shareholders through February 10, 2026. Excludes 191,743 LTIP units granted under the 2023 LTI Plan the vesting of which is subject to conditions that are not tied solely to the market price of an equity security of the Issuer.
The LTIP Units vest ratably over four years, subject to continued employment through each vesting date, with the initial vesting occurring on February 10, 2024.
/s/ Robert C. Milton III under POA
2023-02-14