Prospectus Supplement No. 10

 

Filed Pursuant to Rule 424(b)(7)

To Prospectus Dated October 6, 2006

 

Registration No. 333-137894

 

 

CORPORATE OFFICE PROPERTIES TRUST

 

COMMON SHARES OF BENEFICIAL INTEREST

 

This prospectus supplement no. 10 supplements and amends the prospectus dated October 6, 2006, as previously supplemented on November 22, 2006, December 18, 2006, January 17, 2007, February 26, 2007, April 5, 2007, July 19, 2007, August 14, 2007, September 25, 2007 and October 24, 2007, relating to the resale from time to time by certain selling shareholders of our common shares of beneficial interest that may be issued in exchange for or on redemption of our 3.50% Exchangeable Senior Notes Due 2026.

 

This prospectus supplement should be read in conjunction with and accompanied by the prospectus and is qualified by reference to the prospectus, except to the extent that the information in this prospectus supplement supersedes the information contained in the prospectus.

 

The number of common shares issuable upon exchange of the notes shown in the table below assumes exchange of the full amount of notes held by each selling shareholder at the current conversion rate of 18.4908 common shares per $1,000 principal amount of notes.  This conversion price is subject to adjustment in certain events. Accordingly, the number of conversion shares may increase or decrease from time to time. Information concerning other selling shareholders will be set forth in prospectus supplements from time to time, if required. The number of common shares owned by the other selling shareholders or any future transferee from any such holder assumes that they do not beneficially own any common shares other than the common shares that we may issue to them in exchange for or on redemption of the notes.  All information regarding the number of common shares beneficially owned by the selling shareholders named in this prospectus supplement is based on information originally provided to us by the selling shareholders with respect to such shares.

 

 

 

 

 

 

 

 

 

 

 

 



Selling Shareholder

 


Number of Shares Beneficially Owned and Offered Hereby(1)

 


Number of Other Shares Beneficially Owned and Not Offered Hereby

 

Percent of All Common Shares Beneficially Owned Before Resale(2)

 

 

 

 

 

 

 

 

 

Beneficial Ownership After Resale of Shares

Number of Shares

 


Percent

 

 

 

 

 

 

 

 

 

 

 

 

Akanthos Arbitrage Master Fund, L.P.

 

369,816

 

48,600

 

*

 

—

 

*

 

BMO Nesbitt Burns Inc. +

 

240,380

(3)

—

 

*

 

—

 

*

 

CNH CA Master Account, L.P.

 

212,644

(3)

—

 

*

 

—

 

*

 

CQS Convertible and Quantitative Strategies Master Fund Limited

 

175,662

(3)

—

 

*

 

—

 

*

 

CSS, LLC +

 

64,717

(3)

—

 

*

 

—

 

*

 

DBAG London +

 

596,790

(3)

—

 

1.3

%

—

 

*

 

dbx- Convertible Arbitrage 12 Fund c/o Quattro Global Capital, LLC

 

5,898

 

—

 

*

 

—

 

*

 

Forest Global Convertible Master Fund, L.P.

 

50,905

(3)

—

 

*

 

—

 

*

 

Forest Multi Strategy Master Fund SPC, on behalf of its Multi Strategy Segregated Portfolio

 

5,621

(3)

—

 

*

 

—

 

*

 

Froley Revy Alternative Strategies

 

9,245

(3)

—

 

*

 

—

 

*

 

GLG Market Neutral Fund

 

184,908

(3)

—

 

*

 

—

 

*

 

Grace Convertible Arbitrage Fund, Ltd.

 

73,963

(3)

—

 

*

 

—

 

*

 

HFR CA Global Opportunity Master Trust

 

16,882

(3)

—

 

*

 

—

 

*

 

HFR RVA Select Performance Master Trust

 

4,770

(3)

—

 

*

 

—

 

*

 

Highbridge Convertible Arbitrage Master Fund LP

 

64,717

(3)

—

 

*

 

—

 

*

 

Highbridge International LLC

 

184,908

(3)

—

 

*

 

—

 

*

 

Inflective Convertible Opportunity Fund I, LP +

 

25,887

(3)

—

 

*

 

—

 

*

 

Inflective Convertible Opportunity Fund I, LTD +

 

49,925

(3)

—

 

*

 

—

 

*

 

Institutional Benchmarks Master Fund Ltd.

 

11,353

(3)

—

 

*

 

—

 

*

 

 


 

Institutional Benchmarks Series-IVAN Segregated Account +

 

16,641

(3)

—

 

*

 

—

 

*

 

Institutional Benchmark Series (Master Feeder) Limited in Respect of Electra Series c/o Quattro Global Capital, LLC

 

25,998

(3)

—

 

*

 

—

 

*

 

Jefferies and Company +

 

18,490

(3)

—

 

*

 

—

 

*

 

JMG Capital Partners, L.P.

 

208,946

(3)

—

 

*

 

—

 

*

 

JMG Triton Offshore Fund, Ltd.

 

151,624

(3)

—

 

*

 

—

 

*

 

JP Morgan Securities Inc. +

 

348,551

(3)

—

 

*

 

—

 

*

 

KBC Financial Products USA Inc. +

 

27,736

 

—

 

*

 

—

 

*

 

LLT Limited

 

7,636

(3)

—

 

*

 

—

 

*

 

Lyxor/Forest Fund Limited

 

87,738

(3)

—

 

*

 

—

 

*

 

Lyxor/Inflective Convertible Opportunity Fund +

 

33,283

(3)

—

 

*

 

—

 

*

 

Magnetar Capital Master Fund, Ltd.

 

194,153

(3)

—

 

*

 

—

 

*

 

Millenium Partners, L.P. +

 

138,681

(3)

—

 

*

 

—

 

*

 

Partners Group Alternative Strategies PCC Limited, Red Delta Cell c/o Quattro Global Capital, LLC

 

4,992

(3)

—

 

*

 

—

 

*

 

PNC Equity Securities LLC +

 

55,472

(3)

—

 

*

 

—

 

*

 

Polygon Global Opportunities Master Fund

 

184,908

(3)

—

 

*

 

—

 

*

 

Quattro Fund Limited

 

194,060

(3)

—

 

*

 

—

 

*

 

Quattro Multistrategy Masterfund LP(3)

 

14,422

(3)

—

 

*

 

—

 

*

 

Redbourn Partners Ltd.

 

83,208

(3)

—

 

*

 

—

 

*

 

Royal Bank of Canada +

 

138,681

(3)

—

 

*

 

—

 

*

 

S.A.C. Arbitrage Fund, LLC

 

277,362

(3)

—

 

*

 

—

 

*

 

Sailfish Multi Strategy Fixed Income Master Fund (G2) Ltd.

 

92,454

(3)

—

 

*

 

—

 

*

 

Silvercreek Limited Partnership

 

258,871

(3)

—

 

*

 

—

 

*

 

Silvercreek II Limited

 

184,908

(3)

—

 

*

 

—

 

*

 

UBS O’Connor LLC F/B/O O’Connor Global Convertible Arbitrage Master Limited

 

57,672

(3)

—

 

*

 

—

 

*

 

UBS O’Connor LLC F/B/O O’Connor Global Convertible Arbitrage II Master Limited

 

7,044

(3)

—

 

*

 

—

 

*

 

Vicis Capital Master Fund

 

55,472

(3)

—

 

*

 

—

 

*

 

Wachovia Capital Markets LLC +

 

9,245

(3)

—

 

*

 

—

 

*

 

Wachovia Securities Intl. LTD +

 

147,926

(3)

—

 

*

 

—

 

*

 

Waterstone Market Neutral Mac 51, Ltd.

 

38,793

(3)

—

 

*

 

—

 

*

 

Waterstone Market Neutral Master Fund, Ltd.

 

72,151

(3)

—

 

*

 

—

 

*

 

*      Indicates less than one percent (1%).

+                 The selling shareholders identified with this symbol have identified that they are, or are affiliates of, registered broker-dealers. These selling shareholders have represented that they acquired their securities in the ordinary course of business and in the open market, and, at the time of the acquisition of the securities, had no agreements or understandings, directly or indirectly, with any person to distribute the securities. To the extent that we become aware that any such selling shareholder did not acquire its securities in the ordinary course of business or did have such an agreement or understanding, we will file a post-effective amendment to the registration statement of which this prospectus is a part to designate such person as an “underwriter” within the meaning of the Securities Act of 1933.

(1)          Represents the maximum number of common shares issuable in exchange for or on redemption of all of the selling shareholder’s notes, based on the current conversion rate applicable to the notes of 18.4908 common shares per $1,000 principal amount of notes.  This conversion rate is, however, subject to adjustment.  As a result, the number of our common shares issuable upon conversion of the notes may increase or decrease in the future.

(2)          Calculated based on 47,363,659 common shares outstanding as of October 31, 2007.  In calculating this amount for each selling shareholder, we treated as outstanding the number of common shares in exchange for or on redemption of all of that selling shareholder’s notes, but we did not assume conversion of any other selling shareholder’s notes.

(3)          Includes the number of common shares registered for sale by this selling shareholder pursuant to previous prospectus supplements set forth opposite the selling shareholder’s name in the following table:

 


 

BMO Nesbitt Burns Inc.

 

239,569

CNH CA Master Account, L.P.

 

211,786

CQS Convertible and Quantitative Strategies Master Fund Limited

 

175,069

CSS, LLC

 

64,499

DBAG London

 

596,790

Forest Global Convertible Master Fund, L.P.

 

50,733

Forest Multi Strategy Master Fund SPC, on behalf of its Multi Strategy Segregated Portfolio

 


5,602

Froley Revy Alternative Strategies

 

9,214

GLG Market Neutral Fund

 

184,284

Grace Convertible Arbitrage Fund, Ltd.

 

73,713

HFR CA Global Opportunity Master Trust

 

16,825

HFR RVA Select Performance Master Trust

 

4,754

Highbridge Convertible Arbitrage Master Fund LP

 

64,499

Highbridge International LLC

 

184,284

Inflective Convertible Opportunity Fund I, LP

 

25,799

Inflective Convertible Opportunity Fund I, LTD

 

49,756

Institutional Benchmarks Master Fund Ltd.

 

11,315

Institutional Benchmarks Series-IVAN Segregated Account

 

16,585

Institutional Benchmark Series (Master Feeder)
Limited in Respect of Electra Series c/o Quattro Global Capital, LLC

 



21,929

Jefferies and Company

 

18,428

JMG Capital Partners, L.P.

 

208,103

JMG Triton Offshore Fund, Ltd.

 

151,012

JP Morgan Securities Inc.

 

348,551

LLT Limited

 

7,636

Lyxor/Forest Fund Limited

 

87,442

Lyxor/Inflective Convertible Opportunity Fund

 

33,171

Magnetar Capital Master Fund, Ltd.

 

193,498

Millenium Partners, L.P.

 

138,681

Partners Group Alternative Strategies PCC Limited, Red Delta Cell c/o Quattro Global Capital, LLC

 


4,975

PNC Equity Securities LLC

 

55,285

Polygon Global Opportunities Master Fund

 

184,162

Quattro Fund Limited

 

163,644

Quattro Multistrategy Masterfund LP

 

12,162

Redbourn Partners Ltd.

 

82,927

Royal Bank of Canada

 

138,213

S.A.C. Arbitrage Fund, LLC

 

276,426

Sailfish Multi Strategy Fixed Income Master Fund (G2) Ltd.

 

92,142

Silvercreek Limited Partnership

 

257,997

Silvercreek II Limited

 

184,284

UBS O’Connor LLC F/B/O O’Connor Global Convertible Arbitrage Master Limited

 


57,440

UBS O’Connor LLC F/B/O O’Connor Global Convertible Arbitrage II Master Limited

 


7,016

Vicis Capital Master Fund

 

55,248

Wachovia Capital Markets LLC

 

9,214

Wachovia Securities Intl. LTD

 

147,427

Waterstone Market Neutral Mac 51, Ltd.

 

38,662

Waterstone Market Neutral Master Fund, Ltd.

 

71,907

 

 

Investing in our common shares involves risks.  See “Risk Factors” beginning on page 5 of the prospectus and included in our periodic reports and other information that we file with the Securities and Exchange Commission before you invest in our securities.

 

 

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete.  Any representation to the contrary is a criminal offense.

 

 

 

 

The date of this prospectus supplement is December 5, 2007