Exhibit 1.1
UDR, INC.
Common Stock
($0.01 par value)
AMENDMENT NO. 2 TO ATM SALES AGREEMENT
February 20, 2026
BofA Securities, Inc. One Bryant Park | Nomura Securities International, Inc. (as forward seller through BTIG, LLC) 309 West 49th Street New York, NY 10019 |
BNY Mellon Capital Markets, LLC New York, New York 10286 | Regions Securities LLC 615 South College Street, Suite 600 Charlotte, North Carolina 28202 |
BTIG, LLC New York, New York 10022 | RBC Capital Markets, LLC 200 Vesey Street New York, New York 10281 |
Citigroup Global Markets Inc. | TD Securities (USA) LLC 1 Vanderbilt Avenue New York, New York 10017 |
Jefferies LLC 520 Madison Avenue New York, New York 10022 | Truist Securities, Inc. 50 Hudson Yards, 70th Floor New York, NY 10001 |
J.P. Morgan Securities LLC | Wells Fargo Securities, LLC 500 West 33rd Street New York, New York 10001 |
Morgan Stanley & Co. LLC | |
as Agents | |
Bank of America, N.A. One Bryant Park | Nomura Global Financial Products, Inc. 309 West 49th Street New York, NY 10019 |
The Bank of New York Mellon New York, New York 10286 | Regions Securities LLC 615 South College Street, Suite 600 Charlotte, North Carolina 28202 |
Citibank, N.A. | Royal Bank of Canada 200 Vesey Street New York, New York 10281 |
Jefferies LLC 520 Madison Avenue New York, New York 10022 | The Toronto-Dominion Bank c/o TD Securities (USA) LLC 1 Vanderbilt Avenue New York, New York 10017 |
JPMorgan Chase Bank, National Association | Truist Bank 50 Hudson Yards, 70th Floor New York, NY 10001 |
Morgan Stanley & Co. LLC | Wells Fargo Bank, National Association 500 West 33rd Street New York, New York 10001 |
as Forward Purchasers | |
Ladies and Gentlemen:
Reference is made to the ATM Sales Agreement, dated July 29, 2021 (the “Agreement”) by and among UDR, Inc., a Maryland corporation (the “Company”) and BofA Securities, Inc., BNY Mellon Capital Markets, LLC, BTIG, LLC, Citigroup Global Markets Inc., Jefferies LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Regions Securities LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC, Truist Securities, Inc., Wells Fargo Securities, LLC, or any other person that shall become an agent hereunder from time to time, each as sales agent, forward seller and/or principal, and Bank of America, N.A., The Bank of New York Mellon, Citibank, N.A., Jefferies LLC, JPMorgan Chase Bank, National Association and Morgan Stanley & Co. LLC, Royal Bank of Canada, The Toronto-Dominion Bank, Truist Bank, Wells Fargo Bank, N.A., each (or its affiliate assignee) as forward purchaser, as amended by Amendment No. 1 thereto, dated February 14, 2023, by and among, the Company and BofA Securities, Inc., BNY Mellon Capital Markets, LLC, BTIG, LLC, Citigroup Global Markets Inc., Jefferies LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Regions Securities LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC, Truist Securities, Inc., Wells Fargo Securities, LLC, or any other person that shall become an agent hereunder from time to time, each as sales agent, forward seller and/or principal (in any such capacity, each an “Agent”, and together the “Agents”), and Bank of America, N.A., The Bank of New York Mellon, Citibank, N.A., Jefferies LLC, JPMorgan Chase Bank, National Association, Morgan Stanley & Co. LLC, Nomura Global Financial Products, Inc., Regions Securities LLC, Royal Bank of Canada, The Toronto-Dominion Bank, Truist Bank, Wells Fargo Bank, N.A., each (or its affiliate assignee) as forward purchaser (in such capacity, each a “Forward Purchaser”, and together the “Forward Purchasers”). On February 18, 2026, the Company and the Operating Partnership filed with the Securities and Exchange Commission (the “Commission”) an “automatic shelf registration statement” as defined under Rule 405 under the Securities Act of 1933, as amended (the “1933 Act”), on Form S-3 (File
No. 333-293550) (the “Registration Statement”), in respect of certain of the Company’s and the Operating Partnership’s securities, following the expiration of the Company’s automatic shelf registration statement on Form S-3 (File No. 333-269757) (the “Expired Registration Statement”). The Company, the Agents and the Forward Purchasers wish to amend the Agreement to reference the Registration Statement instead of the Expired Registration Statement and to reflect the addition of Nomura Securities International, Inc. (as forward seller through BTIG, LLC as its agent) and Nomura Global Financial Products, Inc. (together, with the Company, the Agents and the Forward Purchasers, the “Parties”) as a Forward Purchaser (this “Amendment”). The Parties therefore hereby agree as follows:
“BofA Securities, Inc., BNY Mellon Capital Markets, LLC, BTIG, LLC, Citigroup Global Markets Inc., Jefferies LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Nomura Securities International, Inc. (as forward seller through BTIG, LLC as its agent), Regions Securities LLC, RBC Capital Markets, LLC, TD Securities (USA) LLC, Truist Securities, Inc., Wells Fargo Securities, LLC, or any other person that shall become an agent hereunder from time to time, each as sales agent, principal (except in the case of Nomura Securities International, Inc.) and/or forward seller (except in the case of BTIG, LLC) (in any such capacity, each an “Agent”, and together the “Agents”)”
“Bank of America, N.A., The Bank of New York Mellon, Citibank, N.A., Jefferies LLC, JPMorgan Chase Bank, National Association, Morgan Stanley & Co. LLC, Nomura Global Financial Products, Inc., Regions Securities LLC, Royal Bank of Canada, The Toronto-Dominion Bank, Truist Bank, Wells Fargo Bank, N.A., each (or its affiliate assignee) as forward purchaser (in such capacity, each a “Forward Purchaser”, and together the “Forward Purchasers”)”
“Section 11.Notices. All statements, requests, notices and agreements hereunder shall be in writing, and
BofA Securities, Inc.
One Bryant Park
New York, New York 10036
Fax No.: (646) 855-3073
Attention: Syndicate Department,
With a copy to: ECM Legal
Fax. No.: (212) 230-8730,
BNY Mellon Capital Markets, LLC
240 Greenwich Street
New York, New York 10286
Attention: ATM Execution
E-mail: Michael.x.palma@bnymellon.com
With a copy to:
BNY Mellon Capital Markets Operation Department
240 Greenwich Street
New York, New York 10286
E-mail: bnymcmfiops@bnymellon.com,
BTIG, LLC
65 East 55th Street
New York, New York 10022
Attention: ATM Trading Desk
E-mail: BTIGUSATMTrading@btig.com,
Citigroup Global Markets Inc.
388 Greenwich Street
New York, New York 10013
Fax No.: (646) 291-1469
Attention: General Counsel,
Jefferies LLC
520 Madison Avenue
New York, New York 10022
Attention: General Counsel,
J.P. Morgan Securities LLC
270 Park Avenue
New York, New York 10017
Attention: Special Equity Desk
Fax No.: (212) 622-8358
Morgan Stanley & Co. LLC
1585 Broadway
New York, New York 10036
Fax No.: (212) 404-9828
Attention: Equity Syndicate Desk with a copy to the Legal Department,
Nomura Securities International, Inc.
309 West 49th Street
New York, New York 10019
Attention: Structured Equity Solutions
Email: atmexecution@nomura.com
With a copy (which shall not constitute notice) to:
Attention: Equities Legal
Email: Dan.Rosenbaum@nomura.com
And to:
BTIG, LLC as agent of the forward seller, at the notice addresses provided for BTIG, LLC herein
RBC Capital Markets, LLC
200 Vesey Street, 8th Floor
New York, New York 10281
Attention: Equity Syndicate and TJ Opladen
Fax No.: (212) 428-6260
E-mail: tj.opladen@rbccm.com,
Regions Securities LLC
615 South College Street, Suite 600
Charlotte, North Carolina 28202
Attention: Brit Stephens
Phone: (980) 287-2734
E-mail: brit.stephens@regions.com,
With a copy to: ECMDesk@regions.com
TD Securities (USA) LLC
1 Vanderbilt Avenue
New York, New York 10017
c/o Equity Capital Markets
E-mail: USTMG@tdsecurities.com,
Truist Securities, Inc.
50 Hudson Yards, 70th Floor
New York, NY 10001
Attention: Equity Capital Markets
E-mail: dl.atm.offering@truist.com,
and
Wells Fargo Securities, LLC
500 West 33rd Street
New York, New York 10001
Attention: Equity Syndicate Department
Fax No.: (212) 214-5918,
(b)if to the Forward Purchasers shall be delivered or sent by mail, e-mail, telephone or facsimile transmission to:
Bank of America, N.A.
One Bryant Park
New York, New York 10036
Fax No.: (646) 855-6770
Attention: Strategic Equity Solutions Group
E-mail: dg.issuer_derivatives_notices@bofa.com,
The Bank of New York Mellon
240 Greenwich Street
New York, New York 10286
Attention: d1ny@bnymellon.com and JC.Mas@bnymellon.com,
Citibank, N.A.
390 Greenwich Street
New York, NY 10013
Attn: Eric Natelson; Theodore Finkelstein; Bianca Gotuaco
Telephone: (212) 723-7310; (212)-723-1693; (212)-723-1132
Email: eric.natelson@citi.com; Theodore.finkelstein@citi.com; bianca.gotuaco@citi.com; eq.us.corporates.middle.office@citi.com; eq.us.ses.notifications@citi.com,
With a copy to:
Citigroup Global Markets Inc.
390 Greenwich Street
New York, New York 10013
Email: setg.origination@citi.com,
Jefferies LLC
520 Madison Avenue
New York, New York 10022
Attention: Strategic Equity Transactions Group
Phone: (212) 708-2734
E-mail: SETG-US@jefferies.com and CorpEqDeriv@jefferies.com
With copies to: Sonia Han Levovitz, SHan@jefferies.com,
JPMorgan Chase Bank, National Association
New York Branch
270 Park Avenue
New York, New York 10017
Attention: EDG Marketing Support
E-mail: edg_notices@jpmorgan.com and edg_ny_corporate_sales_support@jpmorgan.com,
With a copy to: Stephanie Little, Stephanie.y.little@jpmorgan.com,
Morgan Stanley & Co. LLC
1585 Broadway
New York, New York 10036
Fax No.: (212) 404-9828
Nomura Global Financial Products, Inc.
309 West 49th Street
New York, New York 10019
Attention: Structured Equity Solutions
Email: cedamericas@nomura.com
With a copy (which shall not constitute notice) to:
Attention: Equities Legal
Email: nyequitieslegal@nomura.com
And to:
BTIG, LLC, at the notice addresses provided for BTIG, LLC herein
Regions Securities LLC
615 South College Street, Suite 600
Charlotte, North Carolina 28202
Attention: Brit Stephens
Phone: (980) 287-2734
E-mail: brit.stephens@regions.com,
With a copy to: ECMDesk@regions.com
Royal Bank of Canada
200 Vesey Street, 8th Floor
New York, New York 10281
Attention: Equity Syndicate Department
Phone: (877) 822-4089
E-mail: RBCECMCorporateEquityLinkedDocumentation@rbc.com,
The Toronto-Dominion Bank, c/o TD Securities (USA) LLC
1 Vanderbilt Avenue
New York, New York 10017
Attention: Global Equity Derivatives
Phone: (212) 827-7306
E-mail: TDUSA-GEDUSInvestorSolutionsSales@tdsecurities.com and Bradford.Limpert@tdsecurities.com,
Truist Bank
50 Hudson Yards, 70th Floor
New York, NY 10001
Attention: Equity Capital Markets
E-mail: dl.atm.offering@truist.com, with a copy to Rakesh Mangat, rakesh.mangat@truist.com,
and
Wells Fargo Bank, National Association
500 West 33rd Street
New York, New York 10001
E-mail: CorporateDerivativeNotifications@wellsfargo.com,
and if to the Company to:
UDR, Inc.
1745 Shea Center Drive, Suite 200
Highlands Ranch, Colorado 80129
Fax No.: (720) 283-2453
Attention: Legal Department
Email: legal@udr.com
With a copy to:
Goodwin Procter LLP
1900 N Street, NW
Washington, D.C. 20036
(202) 346-4000
Attention: David M. Lynn
David H. Roberts
E-mail: DLynn@goodwinlaw.com, DRoberts@goodwinlaw.com
Terms used herein but not otherwise defined are used herein as defined in the Agreement.
If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Company a counterpart hereof; whereupon this instrument, along with all counterparts, will become a binding agreement among the Agents, the Forward Purchasers and the Company in accordance with its terms.
Very truly yours,
UDR, Inc.
By: /s/David D. Bragg____________________
Name: David D. Bragg
Title: Senior Vice President and Chief Financial Officer
Accepted as of the date hereof
In their capacity as Agents
BOFA SECURITIES, INC. | | |
| | |
By: | /s/ Shawn Cepeda | |
| Name: Shawn Cepeda | |
| Title: Managing Director | |
BNY MELLON CAPITAL MARKETS, LLC | | |
| | |
By: | /s/ Dan Klinger | |
| Name: Dan Klinger | |
| Title: Managing Director | |
BTIG, LLC | | |
| | |
By: | /s/ Eric Clark | |
| Name: Eric Clark | |
| Title: Managing Director | |
Citigroup Global Markets Inc. | ||
| | |
By: | /s/ Kevin Koeller | |
| Name: Kevin Koeller | |
| Title: Vice President | |
jefferies LLC | ||
| | |
By: | /s/ William Barber | |
| Name: William Barber | |
| Title: Managing Director | |
J.P. Morgan Securities LLC | ||
| | |
By: | /s/ Sanjeet Dewal | |
| Name: Sanjeet Dewal | |
| Title: Managing Director | |
[Signature Page – Amendment No. 2 to ATM Sales Agreement]
Morgan Stanley & Co. LLC | ||
| | |
By: | /s/ Ethan Woo | |
| Name: Ethan Woo | |
| Title: Vice President | |
NOMURA SECURITIES INTERNATIONAL, INC., as forward seller (acting through BTIG, LLC as its agent) | ||
| | |
By: | /s/ Jeffrey Petillo | |
| Name: Jeffrey Petillo | |
| Title: Authorized Representative | |
RBC CAPITAL MARKETS, LLC | ||
| | |
By: | /s/ J.T. Deignan | |
| Name: J.T. Deignan | |
| Title: Managing Director | |
REGIONS SECURITIES LLC | ||
| | |
By: | /s/ Edward L. Armstrong | |
| Name: Edward L. Armstrong | |
| Title: Managing Director - ECM | |
TD SECURITIES (USA) LLC | ||
| | |
By: | /s/ Adriano Pierroz | |
| Name: Adriano Pierroz | |
| Title: Director | |
TRUIST SECURITIES, INC. | ||
| | |
By: | /s/ Keith Carpenter | |
| Name: Keith Carpenter | |
| Title: Managing Director | |
[Signature Page – Amendment No. 2 to ATM Sales Agreement]
Wells Fargo securities, LLC | ||
| | |
By: | /s/ Rohit Mehta | |
| Name: Rohit Mehta | |
| Title: Managing Director | |
[Signature Page – Amendment No. 2 to ATM Sales Agreement]
Accepted as of the date hereof Acting their capacities as Forward Purchasers, solely as the recipient and/or beneficiary of certain representations, warranties, covenants and indemnities as set forth in this Agreement | |
BANK OF AMERICA, N.A. | |
By:/s/ Shawn Cepeda_______________ | |
Name: Shawn Cepeda | |
Title: Managing Director | |
| |
THE BANK OF NEW YORK MELLON | |
By:/s/ Dan Klinger_________________ | |
Name: Dan Klinger | |
Title: Managing Director | |
| |
CITIBANK, N.A. | |
By:/s/ Eric Natelson________________ | |
Name: Eric Natelson | |
Title: Authorized Signatory | |
| |
JEFFERIES LLC | |
By:/s/ William Barber_____________ | |
Name: William Barber | |
Title: Managing Director | |
| |
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION | |
By:/s/ Sanjeet Dewal______________ | |
Name: Sanjeet Dewal | |
Title: Managing Director | |
| |
[Signature Page – Amendment No. 2 to ATM Sales Agreement]
MORGAN STANLEY & CO. LLC | |
By:/s/ Ellen Weinstein_______________ | |
Name: Ellen Weinstein | |
Title: Managing Director | |
| |
NOMURA GLOBAL FINANCIAL PRODUCTS, INC | |
By:/s/ Jeffrey Petillo________________ | |
Name: Jeffrey Petillo | |
Title: Authorized Representative | |
| |
REGIONS SECURITIES LLC | |
By:/s/ Edward L. Armstrong__________ | |
Name: Edward L. Armstrong | |
Title: Managing Director - ECM | |
| |
ROYAL BANK OF CANADA | |
By:/s/ Chris Amery _________________ | |
Name: Chris Amery | |
Title: Managing Director | |
| |
THE TORONTO-DOMINION BANK | |
By:/s/ Christopher Obalde____________ | |
Name: Christopher Obalde | |
Title: Authorized Signatory | |
| |
TRUIST BANK | |
By:/s/ Rakesh Mangat________________ | |
Name: Rakesh Mangat | |
Title: Managing Director | |
| |
WELLS FARGO BANK, NATIONAL ASSOCIATION | |
By:/s/ Kevin Brillhart________________ | |
Name: Kevin Brillhart | |
Title: Managing Director | |
[Signature Page – Amendment No. 2 to ATM Sales Agreement]