# EDGAR Filing Document

**Accession Number:** 0000074208
**File Stem:** 0001664272-25-000366
**Filing Date:** 2025-7
**Character Count:** 12435
**Document Hash:** dcfaf71f7d2cbc1cdbec10f5c4444a23
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001664272-25-000366.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001664272-25-000366

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250723

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Bragg David D.
- **CENTRAL INDEX KEY:** 0002074905

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10524
- **FILM NUMBER:** 251152759

**MAIL ADDRESS:**
- **STREET 1:** 1745 SHEA CENTER DRIVE, SUITE 200
- **CITY:** HIGHLANDS RANCH
- **STATE:** CO
- **ZIP:** 80129
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** UDR, Inc.
- **CENTRAL INDEX KEY:** 0000074208
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 540857512
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1745 SHEA CENTER DRIVE
- **STREET 2:** SUITE 200
- **CITY:** HIGHLANDS RANCH
- **STATE:** CO
- **ZIP:** 80129
- **BUSINESS PHONE:** 720-283-6120

**MAIL ADDRESS:**
- **STREET 1:** 1745 SHEA CENTER DRIVE
- **STREET 2:** SUITE 200
- **CITY:** HIGHLANDS RANCH
- **STATE:** CO
- **ZIP:** 80129

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UNITED DOMINION REALTY TRUST INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OLD DOMINION REAL ESTATE INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19850110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OLD DOMINION REIT ONE
- **DATE OF NAME CHANGE:** 19770921

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Bragg David D.<br><sub>(Last) (First) (Middle)</sub><br>1745 SHEA CENTER DRIVE<br>SUITE 200<br><sub>(Street)</sub><br>HIGHLANDS RANCH, CO 80129<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-07-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_SVP - Chief Financial Officer_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>UDR, Inc. [ UDR ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-07-23 |  | A |  | 24384<sup>(1)</sup> | A | $41.0100 | 24384 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Class 1 LTIP Units<sup>(7)</sup> | <sup>(8)(9)(10)</sup> | 2025-07-23 |  | A |  | 24384<sup>(11)</sup> |  | <sup>(8)(9)(10)(11)</sup> | <sup>(10)</sup> | Common Stock<sup>(8)(9)(10)</sup> | 24384 | $0 | 24384 | D |  |
| Class 2 LTIP Units<sup>(12)</sup> | <sup>(9)(13)(14)</sup> | 2025-07-23 |  | A |  | 27139<sup>(4)(2)(3)(5)(6)</sup> |  | <sup>(4)(9)(13)(14)(2)(3)(5)</sup> | <sup>(14)</sup> | Common Stock<sup>(9)(13)(14)</sup> | 27139 | $0 | 27139 | D |  |

---

### Footnotes:

(1) Subject to the reporting person's continued employment, the grant vests in equal installments over five years from the grant date.

(2) The Class 2 LTIP Units vest only to the extent that pre-established performance metrics are met for the applicable performance period, subject to continuing employment. Except as otherwise set forth in the UDR, Inc. 1999 Long-Term Incentive Plan, as amended from time to time, except Section 14.9 thereof, the Partnership Agreement, or as determined by the Compensation Committee of the Company's Board of Directors (the "Committee"), in its sole discretion, vesting of the Class 2 LTIP Units shall cease upon the date of termination for any reason other than in the event of a change of control of the Company, and no unvested Class 2 LTIP Units shall thereafter become vested.

(3) In the event of a change of control of the Company, the Class 2 LTIP Units will vest only if the holder's employment or other service relationship with the Company is terminated by the Company without cause, or by the holder for good reason, in each case on or within 12 months following the date of a change of control. Further, all restrictions on outstanding awards that have been earned shall lapse upon the Company's termination of the holder's employment without cause or the holder's termination of employment for good reason.

(4) The vesting of these Class 2 LTIP Units shall be determined as follows: 35 percent shall be based on a goal measured by the Company's relative total shareholder return ("TSR") as compared to an apartment peer group over a three-year cumulative performance period (the "3-Year Relative Apartment Peer TSR Metric"); 30 percent shall be based on the achievement of a pre-determined FFO as Adjusted goal over a one-year period (the "1-Year FFO as Adjusted Metric"); 20 percent shall be determined based on a goal measured by the Company's relative FFO as Adjusted growth rate as compared to an apartment peer group over a three-year cumulative performance period (the "3-Year Relative FFO as Adjusted Metric"); and 15 percent shall be based on a goal measured by the Company's relative TSR as compared to a REIT peer group over a three-year cumulative performance period (the "3-Year Relative REIT TSR Metric").

(5) The portions of these Class 2 LTIP Units based upon the 3-Year Relative Apartment Peer TSR Metric, the 3-Year Relative FFO as Adjusted Metric and the 3-Year Relative REIT TSR Metric will vest on the date the Committee determines performance with respect to such metrics. The portion of these Class 2 LTIP Units based upon the 1-Year FFO as Adjusted Metric will vest 50 percent on the date the Committee determines performance with respect to such metrics and 50 percent on the one year anniversary thereof.

(6) Amount represents the maximum award (including dividends) that could be earned, which is subject to forfeiture when the performance results are determined.

(7) Represents Class 1 LTIP Units (the "Class 1 LTIP Units") in United Dominion Realty, L.P., a Delaware limited partnership (the "UDR Partnership"). UDR, Inc. (the "Company") is the parent company and sole general partner of the UDR Partnership.

(8) Subject to the conditions set forth in the Eleventh Amendment to the Amended and Restated Agreement of Limited Partnership of the UDR Partnership (the "Partnership Agreement") and subject to the vesting conditions specified with respect to each Class 1 LTIP Unit, each Class 1 LTIP Unit may be converted, at the election of the holder, into a unit of limited partnership of the UDR Partnership (a "Partnership Common Unit"), provided that such Class 1 LTIP Unit has been outstanding for at least two years from the date of grant.

(9) A holder of Partnership Common Units has the right to require the UDR Partnership to redeem all or a portion of the Partnership Common Units held by the holder in exchange for a cash payment based on the market value of the Company's Common Stock at the time of redemption, as defined in the Partnership Agreement (the "Cash Amount"). However, the UDR Partnership's obligation to pay the Cash Amount is subject to the prior right of the Company to acquire such Partnership Common Units in exchange for either the Cash Amount or shares of the Company's Common Stock.

(10) The Company, as the general partner of the UDR Partnership, may, in its sole discretion, purchase the Partnership Common Units by paying the limited partner either the Cash Amount or the REIT Share Amount (generally one share of the Company's Common Stock for each Partnership Common Unit), as such terms are defined in the Partnership Agreement. The right to convert the Class 1 LTIP Units into Partnership Common Units and the right to receive the Cash Amount or the REIT Share Amount (in the Company's sole discretion) in exchange for Partnership Common Units do not have expiration dates.

(11) Subject to the reporting person's continued employment, the Class 1 LTIP Units vest in equal installments over five years from the grant date.

(12) Represents Class 2 LTIP Units (the "Class 2 LTIP Units") in the UDR Partnership.

(13) Subject to the conditions set forth in the Eleventh Amendment to the Partnership Agreement and subject to the vesting conditions specified with respect to each Class 2 LTIP Unit, each Class 2 LTIP Unit may be converted into a Partnership Common Unit, provided that such Class 2 LTIP Unit has been outstanding for at least two years from the date of grant.

(14) The Company, as the general partner of the UDR Partnership, may, in its sole discretion, purchase the Partnership Common Units by paying the limited partner either the Cash Amount or the REIT Share Amount (generally one share of the Company's Common Stock for each Partnership Common Unit), as such terms are defined in the Partnership Agreement. The right to convert the Class 2 LTIP Units into Partnership Common Units and the right to receive the Cash Amount or the REIT Share Amount (in the Company's sole discretion) in exchange for Partnership Common Units do not have expiration dates.

**Signature:** David D. Bragg  
**Date:** 2025-07-25

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**