Manelis Michael L 4

What Happened

• Michael L. Manelis, Executive Vice President & COO of Equity Residential (EQR), was granted awards on January 16, 2026: 13,105 restricted shares and 13,642 restricted partnership units (RUs). Both were recorded at $0.00 (award/grant), totaling 26,747 shares/units granted. These awards are compensation grants (not open-market purchases or sales).

Key Details

• Transaction date: 2026-01-16; reported on Form 4 filed 2026-01-21.
• Price: $0.00 per share/unit (grant/award).
• Shares/units granted: 13,105 restricted common shares; 13,642 restricted RUs; total 26,747.
• Vesting: Restricted shares and RUs are scheduled to vest on February 9, 2026 (see footnotes).
• RUs: Restricted limited partnership interests that can convert into OP Units and, subject to conditions, be exchanged for common shares or cash (per footnotes).
• Shares owned after transaction: not specified in the provided excerpt — see the full Form 4 for totals.
• Filing timeliness: Form 4 filed Jan 21 for a Jan 16 transaction — later than the typical 2-business-day reporting window, indicating a late filing.

Context

• These awards are standard long-term incentive compensation under the company's 2023 LTIP and are not an open-market purchase or sale. RUs carry additional conversion and tax-target mechanics (they may convert to OP Units and ultimately to common shares or cash, subject to vesting and other conditions). Awards like this generally reflect compensation arrangements rather than immediate insider buying/selling sentiment.