0001225208-24-001986.txt : 20240213
0001225208-24-001986.hdr.sgml : 20240213
20240213210400
ACCESSION NUMBER: 0001225208-24-001986
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240209
FILED AS OF DATE: 20240213
DATE AS OF CHANGE: 20240213
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Olson Jeffrey S
CENTRAL INDEX KEY: 0001374811
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36523
FILM NUMBER: 24631538
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]
ORGANIZATION NAME: 05 Real Estate & Construction
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
X0508
4
2024-02-09
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
0
2023 LTIPs
2024-02-09
4
A
0
286530.0000
0.0000
A
Common Shares
286530.0000
286530.0000
D
LTIP Units (2024 LTI Perf.)
2024-02-09
4
A
0
55736.0000
0.0000
A
Common Shares
55736.0000
55736.0000
D
LTIP Units (2024 LTI Time)
2024-02-09
4
A
0
136586.0000
0.0000
A
Common Shares
136586.0000
136586.0000
D
Represents LTIP Units in Urban Edge Properties LP granted pursuant to a one-time elective program under which members of management elected to forgo 2023 cash bonuses and receive equity with a grant date fair value equal to the cash forgone that was matched on a one-for-one basis by the Issuer. The LTIPs shown represent both the forgone bonus plus the match, all of which vest ratably over four years, subject to continued employment through each vesting date, with the initial vesting occurring on February 9, 2025.
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 vest ratably over four years, subject to continued employment through each vesting date, with the initial vesting occurring on February 9, 2025.
Represents LTIP Units in Urban Edge Properties LP granted pursuant to the Urban Edge Properties 2024 long-term incentive plan (the "2024 LTI Plan") under the Urban Edge Properties 2015 Omnibus Share Plan. The 2024 LTI Plan is comprised of LTIP Units that vest solely based on time, which we refer to as "2024 LTI Time" in Table II and those that vest subject to both time and performanced hurdles, which we refer to as "2024 LTI Perf." in Table II.
The LTIP Units are scheduled to vest 50% on February 9, 2027 and 25% on each of February 9, 2028 and February 9, 2029, 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 9, 2027. Excludes 182,453 LTIP units granted under the 2024 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.
/s/ Robert C. Milton III under POA
2024-02-13