secwatch.observer — SEC 8-K summary
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Issuer:     COPT DEFENSE PROPERTIES (CDP)
CIK:        0000860546
Form:       8-K
Filed at:   2026-02-04T23:59:59+00:00
Accession:  0000860546-26-000003
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

COPT Defense Properties adopts new executive severance plan with enhanced change-in-control multiples
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- 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- Five-year participation periods under the Second Amended Plan; prior letter agreements superseded.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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/860546/000086054626000003/0000860546-26-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/860546/000086054626000003/cdp-20260130.htm
  HTML page:      https://secwatch.observer/filing/0000860546-26-000003

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