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. | 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. | Issued as compensation for service on the Board of Trustees.