Burlage Kelly 4
4 · Lineage, Inc. · Filed Apr 3, 2026
Research Summary
AI-generated summary of this filing
Lineage (LINE) CHRO Kelly Burlage Receives RSUs; Shares Withheld
What Happened
Kelly Burlage, Chief Human Resources Officer of Lineage, received awards on April 1, 2026: 1,220 time‑based restricted stock units (RSUs) and 1,221 LTIP units (derivative partnership units). Also on April 1, 1,516 shares were withheld by the company to satisfy tax withholding obligations tied to the vesting of RSUs, valued at approximately $49,664 (1,516 × $32.76). The awards are grants (code A) and the withholding is reported as a disposition for tax purposes (code F).
Key Details
- Transaction date: 2026-04-01; filing date: 2026-04-03 (filed within the typical 2‑business‑day window).
- Grants: 1,220 RSUs (one‑for‑one share conversion on vesting) and 1,221 LTIP Units (derivative award).
- Tax withholding: 1,516 shares withheld at $32.76 each, totaling ~$49,664.
- Shares owned after transaction: Not specified in the filing.
- Footnotes:
- RSUs vest in equal annual installments (1/3 each) on April 1, 2027, 2028 and 2029, subject to continued service.
- Withholding (F) reflects shares retained by the issuer to satisfy tax obligations from RSU vesting.
- LTIP Units vest in equal annual installments (1/3 each) on April 1, 2027–2029; vested LTIP Units may be converted one‑for‑one into partnership common units, which can be redeemed for cash or, at the issuer’s election, for shares (subject to conditions and minimum holding periods).
Context
This filing reflects a compensation-related grant and routine tax withholding, not an open‑market sale or purchase. The LTIP Units are derivative, long‑term incentive units tied to the company’s operating partnership rather than immediate share purchases. Such awards are common executive compensation and do not, by themselves, indicate a change in sentiment about the stock.
Insider Transaction Report
- Award
Common Stock
[F1]2026-04-01+1,220→ 13,690.16 total - Tax Payment
Common Stock
[F2]2026-04-01$32.76/sh−1,516$49,664→ 12,174.16 total - Award
LTIP Units
[F3][F4]2026-04-01+1,221→ 1,221 total→ Common Stock (1,221 underlying)
Footnotes (4)
- [F1]Represents the grant of time-based restricted stock units ("RSUs"), which are contingent rights to receive shares of common stock ("Shares") on a one-for-one basis and which vest in equal annual installments as to 1/3 of the RSUs on each of April 1, 2027, 2028, 2029, subject to continued service with the Issuer through such dates.
- [F2]Represents shares withheld by the Issuer in satisfaction of tax withholding obligations resulting from the vesting of restricted stock units.
- [F3]Represents the grant of time-based units of partnership interest in Lineage OP, LP (the "Operating Partnership") designated as LTIP Units ("LTIP Units") under the Agreement of Limited Partnership of the Operating Partnership dated as of July 24, 2024 (the "Partnership Agreement"). The LTIP Units vest in equal annual installment as to 1/3 of the LTIP Units on April 1, 2027, 2028 and 2029, subject to continued service with the Issuer through such dates. Subject to achieving certain capital account balances, each vested LTIP Unit may be converted, at the election of the holder, on a one-for-one basis to Partnership Common Units ("Partnership Common Units"),
- [F4](Continued from footnote 3) which are units of partnership interest in the Operating Partnership, as designated under the Partnership Agreement. Holders of Partnership Common Units acquired from the conversion of LTIP Units have the right to redeem their Partnership Common Units in exchange for cash or, at the election of the Issuer, Shares, on a one-for-one basis (subject to certain adjustments), provided at least 18 months have passed since the LTIP Units were granted. LTIP Units and Partnership Common Units do not have expiration dates.