Lau Joan 4

What Happened
Joan Lau, a director of Brandywine Realty Trust (BDN), received an award of 37,582 shares on 2026-05-28. The Form 4 lists the acquisition price as $0.00 (award/grant code A); the award is reported as an annual trustee award valued at approximately $115,000 based on the 05/28/2026 closing price of $3.06. The shares vested immediately upon grant.

Key Details

• Transaction date: 2026-05-28 (reported on Form 4 filed 2026-06-01).
• Transaction type/code: Award/Grant (A). Price reported: $0.00.
• Shares awarded: 37,582; reported value ≈ $115,000 (based on $3.06 closing price).
• Vesting: Shares vested immediately upon grant (per footnote).
• Shares owned after transaction: Not specified in the provided filing.
• Timeliness: Form 4 was filed on 2026-06-01; this appears to be filed after the typical 2-business-day deadline (i.e., late filing noted).

Context
This was a compensation award to a board member (annual trustee award), not a purchase or sale. Such awards are routine compensation and do not necessarily indicate the insider's view on the stock. The award amount was calculated from a fixed dollar stipend ($115,000) converted to shares using the closing price on the grant date.