Transaction Details

Footnotes

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. | Consists of 3,922 shares received as the equity portion of compensation for his Board service and 3,922 shares received upon the election by the reporting person to receive common shares in lieu of cash for all or part of his annual retainer for Board service, consistent with a policy adopted by the Board with respect to the cash portion of compensation for Board service. By making such election, the reporting person received shares equal to the amount of cash compensation designated by the reporting person divided by the 15-day trailing average price of the common shares as of the grant date. | The Profit Interest Units will vest on the first anniversary of the grant date, provided that the reporting person remains a trustee on such date. | The Profit Interest Units do not expire once vested. | Received as compensation for Board service.