Parrell Mark J. 4

What Happened Mark J. Parrell, President & CEO and a director of Equity Residential (EQR), was granted 106,959 restricted limited partnership interests ("RUs") on 2026-01-16. The grant is a derivative award (reported at $0 acquisition price) under the company's 2023 Long-Term Incentive Plan; the RUs are scheduled to vest on February 9, 2026.

Key Details

• Transaction date: 2026-01-16; filing date: 2026-01-21 (filed within the Form 4 two-business-day reporting window).
• Amount: 106,959 RUs; reported acquisition price $0 (derivative grant).
• Shares owned after transaction: not specified in the filing.
• Footnotes: (F1) RUs retained in settlement of the LTIP award; (F2) RUs convert to OP Units when a tax-related capital account target is met (and include any OP Units that automatically convert); OP Units are exchangeable one-for-one for common shares or for cash at the company’s option; (F3) RUs vest on Feb 9, 2026.

Context This was an equity compensation award rather than an open-market purchase or sale. RUs are a form of partnership interest that can convert into operating-partnership units and ultimately into common shares (or cash), subject to tax/accounting triggers and vesting. Such grants are typical for executive long-term compensation and do not, by themselves, indicate a buy/sell signal.