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OMB APPROVAL
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OMB Number:3235-0287
Expires:September 30, 1998
Estimated average burden
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
BALTIMORE GAS AND ELECTRIC COMPANY
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(Last) (First) (Middle)
39 W. Lexington St.
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(Street)
Baltimore MD 21201
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
CORPORATE OFFICE PROPERTIES TRUST ("OCF")
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3. IRS or Social Security Number of Reporting Person (Voluntary)
52-0280210
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4. Statement for Month/Year
DECEMBER 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
Vice President
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7. Individual or Joint/Group Filing (Check applicable line)
[ ] Form filed by one Reporting Person
[ X ] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Shares of Beneficial Interest 12/30/98 J(a) 330,236 (A) (a) 7,030,793 I (b)
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 4
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FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Series A Convertible 12/30/98 J(a) 46,233 12/30/00 Common Shares 86,677 (a) 984,308 I (b)
Preferred Shares of of Beneficial
Beneficial Interest Interest
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</TABLE>
Explanation of Responses:(a) Acquired pursuant to the terms of a Contribution
Agreement, dated as of May 14, 1998, as amended on July 16, 1998 and September
28, 1998, by and among the entities listed therein as sellers and Corporate
Office Properties, L.P. and the Issuer and a Service Company Asset Contribution
Agreement, dated as of May 14,1998 by and among Constellation Oldco, Inc.
(formerly Constellation Real Estate, Inc.), KMS Oldco, Inc., Constellation
Real Estate Group, Inc., Corporate Office Properties, L.P. and the Issuer.
The Common Shares of Beneficial Interest and the Series A Convertible
Preferred Shares of Beneficial Interest were acquired in exchange for real
property and other assets transferred to the Issuer.
(b) The Common Shares of Beneficial Interest and the Series A Convertible
Preferred Shares of Beneficial Interest are held by Constellation Real Estate,
Inc. (formerly Constellation Properties,Inc., a wholly owned subsidiary of
Constellation Real Estate Group, Inc., which is a wholly owned subsidiary of
Constellation Holdings, Inc., which is a wholly owned subsidiary of
Constellation Enterprises, Inc., which is a wholly owned subsidiary of
Baltimore Gas and Electric Company.
/s/ David A. Brune 1/7/99
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**Signature of Reporting Person Date
David A. Brune
Vice President, Chief Financial Officer and Secretary
Baltimore Gas and Electric Company
Vice President, Chief Financial Officer and Secretary
Constellation Enterprises, Inc.
** 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 provided is insufficient, see Instruction 6 for procedures.
Alternatively, this Form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to rule 101(b)(4) of Regulation S-T.
Page 2 of 4
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
/s/ David A. Brune 01/07/99
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**Signature of Reporting Person Date
David A. Brune
Vice President, Chief Financial Officer and Secretary
Baltimore Gas and Electric Company
Vice President, Chief Financial Officer and Secretary
Constellation Enterprises, Inc.
** 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 provided is insufficient, see Instruction 6 for procedures.
Alternatively, this Form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to rule 101(b)(4) of Regulation S-T.
Page 3 of 4
<PAGE>
JOINT FILING
LISTING OF OTHER REPORTING PERSONS
REPORTING PERSONS: IRS NUMBER:
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a) Constellation Real Estate, Inc. 52-1237835
(formerly Constellation Properties, Inc.)
b) Constellation Enterprises, Inc. 52-2080643
Page 4 of 4
