KENNEDY KEVIN 4

What Happened

• Kevin Kennedy, a director of Digital Realty Trust, Inc. (DLR), was granted 1,289 Long-Term Incentive Units (profits interest units) on 2026-05-29. The award is reported as an acquisition (derivative) at $0.00 per unit (total reported value $0). This is a compensation award rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-29; filing date: 2026-06-02 (appears timely).
• Grant size and price: 1,289 units @ $0.00 (reported as a derivative grant).
• Shares owned after transaction: not specified in the Form 4 filing provided.
• Footnote highlights:
  • F1: These are profits interest units in Digital Realty Trust, L.P. (Operating Partnership). They may achieve parity with common limited partnership units and, once vested and at parity, can convert 1-for-1 into common units. Common units are redeemable for cash based on the FMV of an equivalent number of shares of the issuer, or for shares at the issuer’s election.
  • F2: Awards vest on the earlier of one year after the grant or the day before the next annual meeting; vested profits interest units have no expiration.
• This Form 4 also notes the information is being reported concurrently on a Form 4 for the Operating Partnership.

Context

• Profits interest units are often granted at a $0 reported price because they represent a right to future profit/value rather than an immediate cash purchase; they are a standard form of equity compensation and do not necessarily signal a near-term purchase or sale of common stock.
• For retail investors, awards are less direct signals of insider conviction than open-market purchases, but they reflect how the company compensates directors and align incentives with long-term performance.