Berkenfield Andrew 4

What Happened
Andrew Berkenfield, a director of Equity Lifestyle Properties (ELS), was granted restricted stock on 2026-04-28. He received two awards: 2,316 shares at $62.60 each (value $144,982) and 120 shares at $62.60 each (value $7,512), for a combined grant of 2,436 shares valued at approximately $152,494. These were awards (code A on Form 4), not open-market purchases or sales.

Key Details

• Transaction date: 2026-04-28; filing date: 2026-04-30 (Form 4) — filed promptly within the typical 2-business-day window.
• Price per share: $62.60 for both grants.
• Grants: 2,316 shares (value $144,982) and 120 shares (value $7,512); total 2,436 shares ($152,494).
• Vesting (from footnotes): 2,316-share grant vests 1/3 on 10/28/26, 1/3 on 4/28/27, and 1/3 on 4/28/28; 120-share grant vests on 4/28/27.
• Shares owned after transaction: not disclosed in this Form 4.
• No tax-withholding, 10b5-1 plan, or late-filing flags noted in the filing.

Context
Restricted stock awards are typically compensation tied to service or performance and vest over time; they represent earned equity rather than an active market bet by the insider. Because these shares are subject to vesting, they are not immediately tradable and should be interpreted as part of director compensation rather than a direct bullish or bearish market signal.