UDR (UDR) Proxy filing summary

Executive summary

• Focused on delivering strong total shareholder returns through innovation, operational excellence, and disciplined capital allocation, with a diversified portfolio of 60,641 apartment homes across 21 U.S. markets and $20 billion enterprise value as of December 31, 2025.

• Achieved the second highest FFOA per share growth among multifamily REIT peers in 2025, paid the 213th consecutive quarterly dividend, and improved resident turnover to a historic low of 38.5%.

• Maintained a BBB+/Baa1 investment grade rating, lowest cost of debt, and least debt maturities through 2028 among peers.

• Expanded corporate responsibility profile, earning multiple workplace and governance awards, and advanced sustainability initiatives.

Voting matters and shareholder proposals

• Shareholders will vote on: (1) election of 8 directors, (2) advisory vote on executive compensation (say-on-pay), and (3) ratification of Ernst & Young LLP as independent auditor for 2026.

• Board recommends a vote “FOR” all proposals.

• Proxy access and advance notice procedures are in place for shareholder proposals and director nominations for the 2027 annual meeting.

Board of directors and corporate governance

• Board comprises 8 nominees, 88% independent, 38% female, and includes diverse backgrounds and skills.

• Recent board refreshment added new directors with expertise in real estate, finance, and governance.

• Annual board and committee evaluations, director share ownership guidelines, and overboarding policy enforced.

• Active shareholder engagement with 667 interactions in 2025–2026, representing 82% of outstanding shares.