Terreno (TRNO) CFO Cannon Surrenders Shares; Receives Restricted Stock

What Happened

Jaime Cannon, Chief Financial Officer of Terreno Realty Corp (TRNO), had two related equity transactions. On 2026-08-03 Cannon surrendered 3,730 shares of Terreno common stock to satisfy tax withholding obligations at $71.70 per share (proceeds/consideration = $267,441). On 2026-08-04 Cannon was granted 12,081 shares of restricted common stock (recorded at $0.00), which are subject to vesting.

The surrender on Aug 3 was reported as tax withholding related to the vesting of restricted stock (see footnote). The Aug 4 entry reflects a new grant of restricted shares that will fully vest on August 1, 2031.

Key Details

• Transaction types/codes: F (share surrender for tax withholding) and A (award/grant of restricted stock).
• Dates and amounts:
  • 2026-08-03: 3,730 shares surrendered at $71.70 each = $267,441 (tax withholding).
  • 2026-08-04: 12,081 restricted shares granted @ $0.00 (no cash paid).
• Footnotes:
  • F1: The 3,730 shares surrendered represent shares withheld upon vesting of 7,332 restricted shares on Aug 3, 2026.
  • F2: The 12,081 restricted shares granted will fully vest on August 1, 2031.
• Shares owned after the reported transactions were not specified in the provided filing summary.
• Filing: Report filed 2026-08-05 for transactions reported as of 2026-08-03–04 — appears timely (not marked late).

Context

• The 3,730-share surrender is a routine tax-withholding transaction tied to restricted stock vesting, not an open-market sale; such withholdings are common and don't necessarily indicate a CEO/CFO view on the stock's outlook.
• The 12,081-share grant is compensation (restricted stock) and will vest over time (fully vesting 8/1/2031), so it aligns with long-term retention incentives rather than an immediate purchase.