Lee Jeannie 4
4 · DIGITAL REALTY TRUST, L.P. · 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, L.P. (DLR), was awarded 6,092 long-term incentive units (profits interest) on Feb 20, 2026. The units were reported as a grant/award (transaction code A) at $0.00 — a derivative compensation award rather than a cash purchase. The award stems from a 2023 grant whose performance condition was met on Feb 20, 2026.
Key Details
- Transaction date: February 20, 2026; reported on Form 4 filed Feb 23, 2026.
- Transaction type/code: Award/Grant (A); reported as derivative units at $0.00.
- Units awarded: 6,092 total (includes 594 distribution-equivalent units).
- Vesting: 594 distribution-equivalent units vested effective Dec 31, 2025; remaining 5,498 units are time‑based — 50% will vest annually over two years starting Feb 27, 2026. Vested profits interest units have no expiration date.
- Conversion/redeemability: Profits interest units can, upon satisfying specified events, achieve parity with common limited partnership units and be converted 1-for-1 into common units, which are redeemable for cash (based on fair market value) or, at the issuer's election, for shares of the issuer’s common stock.
- Shares owned after transaction: not specified on this Form 4.
- Filing timeliness: Form 4 filed Feb 23 for a Feb 20 transaction (no late filing flag indicated).
- Other: This transaction is also being reported concurrently on a Form 4 for the General Partner.
Context: This was a compensation award (derivative profits interest units) tied to a prior grant and a performance milestone — not an open-market buy or sale. Such awards reflect company compensation/retention practices rather than an insider's personal market bet.
Insider Transaction Report
- Award
Long-Term Incentive Units
[F1][F2]2026-02-20+6,092→ 63,255 total→ Common Units (6,092 underlying)
Footnotes (2)
- [F1]Long-Term Incentive Units are profits interest units in the Issuer, of which the Digital Realty Trust, Inc. is the general partner (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.