KENNEDY KEVIN 4
4 · DIGITAL REALTY TRUST, L.P. · Filed Jun 2, 2026
Research Summary
AI-generated summary of this filing
Digital Realty (DLR) Director Kevin Kennedy Receives Award
What Happened
Kevin Kennedy, a director of Digital Realty Trust, L.P. (DLR), was granted 1,289 profits‑interest units (a derivative award) on May 29, 2026. The units were awarded at $0.00 (no cash paid at grant). These are long‑term incentive units that can convert into common limited partnership units and ultimately be redeemable for cash or shares of the General Partner's common stock under the partnership agreement.
Key Details
- Transaction date: 2026-05-29; Grant/award (code A) of 1,289 units at $0.00 (acquired).
- Filing date: 2026-06-02 — filed within the standard 2 business‑day Form 4 reporting window (timely).
- Shares owned after transaction: not specified in this filing.
- Footnote F1: The awarded units are profits interest units; vested units may convert to common units, which are redeemable for cash based on fair market value or, at the General Partner’s election, for shares of the General Partner’s common stock.
- Footnote F2: Awards vest on the earlier of the first anniversary of the grant or the day before the next annual meeting; vested profits interest units have no expiration.
- Remark: The change is also being reported on a concurrent Form 4 for the General Partner.
Context
This was a compensation grant (derivative award), not an open‑market purchase or sale. Such grants are routine for executive/director compensation and do not by themselves signal a personal cash investment or sale.
Insider Transaction Report
- Award
Long-Term Incentive Units
[F1][F2]2026-05-29+1,289→ 13,931 total→ Common Units (1,289 underlying)
Footnotes (2)
- [F1]Long-term incentive units are profits interest units in the Issuer, of which Digital Realty Trust, Inc. ("General Partner") is the general partner. Vested profits interest units may be converted into an equal number of common limited partnership ("Common Units") in the Issuer subject to the terms of the Issuer's limited partnership agreement. Common Units are redeemable for cash based on the fair market value of an equivalent numbers of shares of the General Partner's common stock, or, at the election of the General Partner, for an equal number of shares of the General Partner's common stock, subject to adjustment in the event of stock splits, stock dividends, issuance of stock rights, specified extraordinary distributions or similar events.
- [F2]Awards vest on the earlier of (i) the first anniversary of the grant date or (b) the day before the date of the next annual meeting of stockholders of the Company to occur following the grant date. The vested profits interest units have no expiration date.