Power Andrew 4
4 · DIGITAL REALTY TRUST, INC. · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Digital Realty (DLR) CEO Andrew Power Receives 62,145 LTIP Units
What Happened Andrew Power, President and CEO of Digital Realty Trust, Inc., was granted/awarded 62,145 long‑term incentive units (reported as a derivative award) on February 20, 2026. The units were reported as acquired at $0 (an award/grant rather than an open‑market purchase). The award includes 6,059 distribution equivalent units that vested effective December 31, 2025; the remaining 56,086 profits interest units are subject to additional time‑based vesting.
Key Details
- Transaction type: A (award/grant) of 62,145 profits interest units in the Operating Partnership (reported as derivative securities). Reported on Form 4 filed Feb 23, 2026 for a Feb 20, 2026 event.
- Price/value shown: $0 acquisition price (non‑cash award). No cash paid by the insider.
- Vesting: 6,059 distribution equivalent units vested Dec 31, 2025; 56,086 units subject to time vesting — 50% vest annually over two years beginning Feb 27, 2026. Vested profits interest units have no expiration.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Footnotes: These are profits interest units in the Operating Partnership that can, upon achieving parity, convert 1:1 into common limited partnership units; common units are redeemable for cash based on fair market value of an equivalent number of issuer shares or, at the issuer’s election, exchanged for issuer common stock.
- Filing notes: Statement also reported concurrently on a Form 4 for the Operating Partnership (per Remarks). No indication in the provided info that the filing was late.
Context This was an executive equity award (long‑term incentive/profits interest), not an open‑market buy or sale. Profits interest units provide compensation and eventual economic exposure similar to common shares once they achieve parity and/or are converted—they are commonly used for long‑term retention and alignment with shareholder value rather than an immediate bullish/pessimistic trading signal.
Insider Transaction Report
- Award
Long-Term Incentive Units
[F1][F2]2026-02-20+62,145→ 490,090 total→ Common Stock (62,145 underlying)
Footnotes (2)
- [F1]Long-Term Incentive Units are profits interest units in Digital Realty Trust, L.P. ("Operating Partnership"), of which the Issuer is the general partner. Profits interest units may initially not have full parity with common limited partnership units of Operating Partnership ("Common Units") with respect to liquidating distributions; however upon the occurrence of specified events, profits interest units may achieve full parity with Common Units for all purposes. Vested profits interest units that have achieved full parity with Common Units may be converted into an equal number of Common Units on a 1-for-1 basis at any time. Common Units are redeemable for cash based on the FMV of an equivalent number of shares of common stock of the Issuer, or, at the election of the Issuer, for an equal number of shares of the Issuer's common stock, subject to adjustment in the event of stock splits, stock dividends, issuance of stock rights, specified extraordinary distributions or similar events.
- [F2]Reflects an award initially granted on April 8, 2023 that was subject to a performance-based vesting condition which was determined to be satisfied on February 20, 2026. The number of units reported herein includes 6,059 distribution equivalent units, which vested effective as of December 31, 2025. The remaining 56,086 units are subject to an additional time-based vesting condition, pursuant to which 50% of the units will vest annually over two years, beginning on February 27, 2026. The vested profits interest units have no expiration date.