COPT DEFENSE PROPERTIES — Director's Dealing 2025

Mar 4, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COPT DEFENSE PROPERTIES (CDP)
CIK: 0000860546
Period of Report: 2025-03-01

Reporting Person: BUDORICK STEPHEN E (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-03-01	Profit Interest Units	$	A	61561	Acquired		Common Shares (61561)	Direct

Footnotes

F1: Each Profit Interest Unit will convert automatically into one share of beneficial interest, designated as a unit (an "OP Unit"), in COPT Defense Properties, L.P. when such Profit Interest Unit becomes vested and upon equalization of its capital account balance. OP Units are redeemable for cash, or, at the option of COPT Defense Properties, exchangeable for common shares of COPT Defense Properties, currently on a one-for-one basis.

F2: Represents Profit Interest Units issued pursuant to the COPT Defense Properties 2017 Omnibus Equity and Incentive Plan.

F3: The Profit Interest Units will vest in three equal installments over a three-year period.