Terreno (TRNO) CEO Baird Blake Receives 28,426 Restricted Shares

What Happened
Baird W. Blake, Chairman and CEO of Terreno Realty Corp (TRNO), had two related equity actions reported. On 2026-08-03 he surrendered 5,769 shares (disposed) at $71.70 per share for $413,637 to satisfy tax withholding obligations upon vesting. On 2026-08-04 he was granted 28,426 restricted shares (no cash paid); those restricted shares will fully vest on August 1, 2031.

Key Details

• Transactions:
  • 2026-08-03: 5,769 shares surrendered (code F) at $71.70 — proceeds/withholding value $413,637. Footnote F1: these shares were surrendered to satisfy withholding due upon vesting of 14,663 restricted shares on Aug 3, 2026.
  • 2026-08-04: 28,426 restricted shares granted (code A) at $0.00 — value $0. Footnote F2: these restricted shares will fully vest on Aug 1, 2031.
• Shares owned after the transactions: Not specified in this Form 4.
• Filing timeliness: Form 4 filed on 2026-08-05; transactions occurred Aug 3–4 — filing appears timely.
• Transaction codes explained: F = tax withholding/disposition to cover tax liabilities; A = award/grant of restricted stock.

Context

• The Aug 3 surrender was a tax-withholding disposition tied to vesting (not a market-sale signal). The Aug 4 entry is a restricted stock grant that vests over time (through 2031), which is an award rather than an immediate purchase. These kinds of withholding and grant entries are common with executive equity compensation and do not by themselves indicate intent to buy or sell more stock on the open market.