Burlage Kelly 4

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.