REDD WILLIAM D 4

What Happened
William D. Redd, EVP & Senior Managing Director of Brandywine Realty Trust (BDN), was granted a total of 122,849 restricted share awards on Jan 22, 2026 (two awards: 54,599 and 68,250 shares, reported as acquisitions at $0.00). On Jan 23, 2026 the company withheld 26,830 shares (13,295 and 13,535) to satisfy payroll tax obligations related to the awards. The withheld shares were recorded as dispositions at $3.03 per share, totaling about $40,284 and $41,011 respectively (combined ≈ $81,295). Net shares delivered to Redd after withholding: 96,019 (122,849 − 26,830).

Key Details

• Transaction dates and prices:
  • 2026-01-22: Awards granted — 54,599 and 68,250 shares at $0.00 (award/acquisition).
  • 2026-01-23: Shares withheld for taxes — 13,295 and 13,535 shares disposed at $3.03 each (total ≈ $81,295).
• Net shares received after withholding: 96,019.
• Footnotes: Awards reflect earned shares under the 2023–2025 restricted performance/share unit awards (including an outperformance element); the disposals reflect shares withheld to satisfy payroll taxes.
• Filing timeliness: Reported on Form 4 filed 2026-01-26; transactions (Jan 22–23) were reported within the required filing window (timely).

Context

• These transactions represent stock-based compensation settlement and routine tax-withholding (disposition code F), not an open-market sale or purchase. Tax-withholding by share retention is common when RSUs or performance shares vest; it does not necessarily indicate buying or selling intent in the market.