Lee Jeannie 4

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.