Aman Angela M 4

What Happened
Aman Angela, a director of Equity Residential (EQR), was granted 3,561 Series 2026C restricted limited partnership interests ("RUs") on June 18, 2026. The award is reported as a derivative acquisition at $0.00 per unit (3,561 units; no cash paid). The RUs may convert into OP Units and, subject to company rules, are exchangeable one-for-one for common shares (or the cash value) once conversion triggers and vesting/holding conditions are met.

Key Details

• Transaction date: June 18, 2026; Form 4 filed June 23, 2026 (filed 5 days after the transaction — appears later than the typical 2-business-day Form 4 reporting window).
• Reported consideration: 3,561 RUs @ $0.00 (derivative award).
• Vesting: RUs scheduled to vest on June 18, 2027.
• Holding restriction: RUs (and any OP Units they convert into) subject to holding restriction until June 18, 2028.
• Conversion mechanics: RUs automatically convert to OP Units when the RU capital account reaches a specified federal tax target (if that occurs within 10 years); OP Units are exchangeable one-for-one for company common shares or cash at the company's option.
• Purpose: Award granted as part of the company’s annual long-term compensation for prospective service following the 2026 Annual Meeting.
• Shares owned after transaction: not specified in the provided filing.

Context
This transaction is an equity compensation award (not an open-market purchase or sale). Such grants are routine for directors and are subject to vesting and holding restrictions, so they do not represent an immediate sale or purchase of market-listed shares. The RUs are a derivative form that may convert to equity in the future; any eventual value depends on conversion, vesting, and company action.