Fenster Scott 4

What Happened
Scott Fenster, EVP & General Counsel of Equity Residential (EQR), was granted two compensation awards on 2026-02-09: 9,174 restricted shares (reported acquisition price $0) and 22,177 derivative awards reported as acquired at $0. The restricted shares are scheduled to vest on February 9, 2029; the derivative awards are structured to vest in roughly three equal installments (see Key Details).

Key Details

• Transaction date: 2026-02-09; Form 4 filed 2026-02-11.
• Transaction type/code: A = Award/Grant. Reported acquisition price for both entries: $0.
• Grants: 9,174 restricted shares (vest 02/09/2029 — F1); 22,177 derivative awards (options-like, vest ~02/09/2027, 02/09/2028, 02/09/2029 — F6).
• Ownership notes: Filing footnotes indicate prior actions and holdings — 26,243 shares were contributed to a revocable trust on 08/20/2025 (F3); additional shares held via the Equity Residential 401(k) through profit-sharing/dividend reinvestment (acquisitions through 01/16/2026) (F4); some holdings are held in a trust for the reporting person (F5). The filing states direct totals include restricted shares scheduled to vest (F2). The excerpt does not provide a single consolidated post-transaction share total.
• No sale or exercise reported here — these are compensation awards (not a market purchase or sale). No indication in the provided excerpt that the filing was late.

Context
This filing reports compensation grants, which are routine for executives and do not represent open-market buying or selling. The 22,177 “derivative” award appears to be option-style vesting rights (not an immediate exercise or sale); future vesting events or exercises would generate separate filings. Contributions to trusts and 401(k) activity noted in the footnotes are administrative and do not by themselves indicate a change in market sentiment.