Lee Jeannie 4
4 · DIGITAL REALTY TRUST, INC. · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Digital Realty (DLR) EVP Jeannie Lee Receives 6,092-Unit Award
What Happened Jeannie Lee, Executive Vice President and General Counsel of Digital Realty Trust, received a grant of 6,092 profits interest units in Digital Realty Trust, L.P. (the Operating Partnership) on February 20, 2026. The reported acquisition price is $0.00 because this is a derivative award (profits interest units), not an open-market purchase. The grant includes 594 distribution-equivalent units that vested effective December 31, 2025; the remaining 5,498 units are subject to additional time-based vesting.
Key Details
- Transaction date: February 20, 2026; transaction type: Award/Grant (derivative).
- Units granted: 6,092 profits interest units; reported value $0 on Form 4.
- Vesting: 594 units vested as of Dec 31, 2025; remaining 5,498 vest 50% per year over two years starting Feb 27, 2026.
- Conversion/rights: Profits interest units may achieve parity with common limited partnership units and, once vested and pari passu, can be converted 1-for-1 into common units; common units are redeemable for cash based on fair market value or, at the issuer’s election, for shares of Digital Realty common stock.
- Filing notes: The Form 4 was filed to report the Operating Partnership transaction concurrently; no late filing is indicated in the report.
Context This is a compensation award (long-term incentive/profits interest units), not a purchase or sale of public stock. Such derivative awards are common for aligning executive pay with partnership performance; vested units do not expire and may convert into equity or cash depending on future conditions. This filing is informational and does not by itself indicate insider sentiment about the company’s stock price.
Insider Transaction Report
- Award
Long-Term Incentive Units
[F1][F2]2026-02-20+6,092→ 63,255 total→ Common Stock (6,092 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 594 distribution equivalent units, which vested effective as of December 31, 2025. The remaining 5,498 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.