Neuman Shawn 4

What Happened
Shawn Neuman, General Counsel & Secretary of Brandywine Realty Trust (BDN), was awarded a total of 58,297 restricted stock units (RSUs) on 2026-01-22 (two grants: 30,089 and 28,208 shares). To satisfy payroll taxes when the RSUs were delivered, 22,602 shares were withheld/disposed on 2026-01-23 (14,795 shares and 7,807 shares) at $3.03 per share, generating cash of $44,829 and $23,655 respectively (total $68,484). The awards were granted at $0.00 acquisition price (award).

Key Details

• Transaction types: A = award/grant (58,297 RSUs on 2026-01-22); F = shares withheld to cover taxes (22,602 shares on 2026-01-23).
• Withholding price: $3.03 per share; withholding proceeds $44,829 and $23,655 (total $68,484).
• Net shares retained from these awards: 58,297 awarded − 22,602 withheld = 35,695 shares.
• Footnotes: awards reflect earned performance/share unit awards (2023–2025 RPSUs) and outperformance elements; withheld shares were used to satisfy payroll taxes (see F1–F4).
• Filing: Report filed 2026-01-26 for transactions dated 2026-01-22/23 — submitted after the typical 2-business-day Form 4 window.

Context
These transactions are issuance of performance-based RSUs and routine tax-withholding (not open-market sales or purchases). Tax-withholding dispositions are administrative and do not necessarily indicate insider sentiment about the stock.