Power Andrew 4

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.