Mercier Matt 4
4 · DIGITAL REALTY TRUST, INC. · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Digital Realty (DLR) CFO Matt Mercier Receives 9,139-Unit Award
What Happened
- Matt Mercier, Chief Financial Officer of Digital Realty Trust, was awarded 9,139 long‑term incentive units (profits interest units) on February 20, 2026. The award was reported as an acquisition at $0.00 (no cash paid). The filing treats these as derivative units tied to the Operating Partnership rather than direct shares of DLR common stock.
Key Details
- Transaction date: February 20, 2026; Form 4 filed February 23, 2026 (timely within the SEC two‑business‑day window).
- Amount: 9,139 profits interest units acquired at $0.00.
- Vesting: The award stems from a 2023 grant with a performance condition satisfied on Feb 20, 2026. The reported 9,139 includes 891 distribution equivalent units that vested effective Dec 31, 2025; the remaining 8,248 units are subject to time‑based vesting (50% vests annually over two years beginning Feb 27, 2026). Vested profits interest units have no expiration and can convert 1:1 into Operating Partnership common units once they achieve parity.
- Economic conversion/redemption: Common Units can be redeemed for cash based on fair market value of an equivalent number of DLR shares or, at the issuer’s election, converted into DLR common stock.
- Shares owned after transaction: Not disclosed in the provided filing excerpt.
- Filing note: This Form 4 was filed to report transactions that are also reported on a concurrent Form 4 for the Operating Partnership.
Context
- This was an award (A) of profits interest units, not an open‑market purchase or sale. Because the units were awarded (not bought), there was no cash outlay by the insider at grant. Profits interest units are a form of equity compensation tied to the Operating Partnership and may convert into interests that track DLR stock value; they are different from an immediate stock purchase or sale and can include future vesting conditions.
Insider Transaction Report
Form 4
Mercier Matt
CFO
Transactions
- Award
Long-Term Incentive Units
[F1][F2]2026-02-20+9,139→ 81,626 total→ Common Stock (9,139 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 891 distribution equivalent units, which vested effective as of December 31, 2025. The remaining 8,248 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.
Signature
/s/ Salini Nandipati, Attorney-in-Fact|2026-02-23