Smart Justin William 4

What Happened

• Justin William Smart, President of Kilroy Realty (KRC), had performance units and restricted stock units vest/convert on Feb 5, 2026. The filing shows approximately 288,751 units converted or awarded (20,482 + 134,097 + 87,163.513 + 47,008.95 = ~288,751 shares). To cover tax withholding, 7,223 shares were surrendered at $34.31 each, generating proceeds of $247,821.
• Several of the reported items are derivative awards (performance units / RSUs) that were settled or newly granted; some awards remain subject to future vesting/performance conditions.

Key Details

• Transaction date: 2026-02-05; Form 4 filed: 2026-02-09 (filed within normal reporting window).
• Shares surrendered for tax withholding: 7,223 shares at $34.31 → $247,821.
• Shares converted/awarded (aggregate reported): ~288,751 shares (sum of listed acquisitions/conversions).
• Notable footnotes: awards include RSUs and multi-year performance units (2023 and 2025 grants). Up to an additional 94,017.90 performance units may vest for the 2025–2027 performance period (per footnote F5). RSUs carry dividend equivalents (F1, F3, F6). Some RSUs were tendered specifically to pay withholding (F2).
• Shares owned after the transactions are not provided in the excerpt of this filing.

Context

• These transactions are largely awards/vesting and conversion of performance units/RSUs into common stock, not open-market purchases or discretionary sales. The 7,223-share disposition was a tax-withholding event (common when equity awards vest), not a market sale aimed at taking profits.
• For retail investors, award vesting signals compensation realization by management but does not by itself indicate a change in company outlook. The filing documents the administrative conversion and tax withholding rather than a deliberate buy/sell decision.