COPT Defense Properties Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Share-Based Compensation (Tables)

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Share and TB-PIU Activity

The following table summarizes restricted shares activity under our share-based compensation plan for the three months ended March 31, 2025:


	Number of Shares	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2024	353,014	$	25.65
Granted	214,565	$	27.03
Forfeited	(5,671)	$	25.93
Vested	(116,091)	$	25.54
Unvested as of March 31, 2025	445,817	$	26.34

The following table summarizes TB-PIUs activity under our share-based compensation plans for the three months ended March 31, 2025:


	Number of TB-PIUs	Weighted Average Grant Date Fair Value
Unvested as of December 31, 2024	223,939	$	25.14
Granted	99,643	$	27.03

Vested	(89,000)	$	25.45
Unvested as of March 31, 2025	234,582	$	25.82

Schedule of Payouts for Performance-Based Awards

The number of earned awards following the end of the performance period will be determined based on the percentile rank of COPT Defense’s total shareholder return (“TSR”) relative to a peer group of companies, as set forth in the following schedule:


Percentile Rank						Earned Award Payout %
75th or greater						200% of target award
50th (target)						100% of target award
25th						50% of target award
Below 25th						0% of target award