---
schema_version: "secwatch.filing_event.v1"
accession: "0000860546-26-000003"
form_type: "8-K"
ticker: "CDP"
cik: "0000860546"
company_name: "COPT DEFENSE PROPERTIES"
filed_at: "2026-02-04T23:59:59+00:00"
generated_at: "2026-05-16T05:10:27.169498+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# COPT Defense Properties adopts new executive severance plan with enhanced change-in-control multiples

## Summary
- CEO Budorick gets severance multiple of 2.00x (2.99x on change in control) and 2-year benefits continuation.
- COO Snider and CFO Mifsud get 1.00x multiple (2.99x on change in control) and 1-year benefits continuation.
- Five-year participation periods under the Second Amended Plan; prior letter agreements superseded.
- Severance conditioned on release of claims and 12-month post-termination non-compete/non-solicit covenants.
- Payments subject to reduction to avoid golden parachute excise taxes if that yields higher after-tax amount to executive.

## SEC filing metadata
- accession: 0000860546-26-000003
- form_type: 8-K
- ticker: CDP
- cik: 0000860546
- company_name: COPT DEFENSE PROPERTIES
- filed_at: 2026-02-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/860546/000086054626000003/0000860546-26-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/860546/000086054626000003/cdp-20260130.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000860546-26-000003
- JSON: https://secwatch.observer/filing/0000860546-26-000003.json
- Plain text: https://secwatch.observer/filing/0000860546-26-000003.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.