Power Andrew 4
4 · DIGITAL REALTY TRUST, INC. · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Digital Realty (DLR) CEO Andrew Power Receives 25,750 Award Units
What Happened
Andrew Power, President and CEO of Digital Realty Trust, Inc. (DLR), received a grant of 25,750 long-term incentive units (reported as a derivative award) on March 13, 2026. The units were granted at $0.00 (no cash paid). These are profits interest units in Digital Realty Trust, L.P. (the Operating Partnership) and were reported on Form 4 as an award (transaction code A).
Key Details
- Transaction date: 2026-03-13 (reported on Form 4 filed 2026-03-17).
- Grant amount and price: 25,750 units @ $0.00 (derivative award).
- Vesting: Units vest in two equal annual installments beginning March 15, 2027; vested profits interest units have no expiration.
- Conversion/redeemability (footnote): Profits interest units may initially lack full parity with common partnership units but can achieve parity on specified events; once vested and at parity, they can convert 1-for-1 into common units. Common units are redeemable for cash based on FMV of equivalent shares or, at the issuer’s election, for shares of common stock.
- Ownership after transaction: Not specified in this Form 4.
- Timeliness: Filing appears timely (transaction 3/13; Form 4 filed 3/17).
- Remarks: This Form 4 was filed to report the same transactions also reported on a Form 4 for the Operating Partnership.
Context
This was an equity award (compensation), not a market purchase or sale. Profits interest units are a partnership-style long-term incentive that may only provide full economic parity with common units after certain events or vesting; they do not necessarily represent immediate cash value. Awards are common executive compensation and should be viewed as part of pay alignment rather than a direct buy/sell signal.
Insider Transaction Report
- Award
Long-Term Incentive Units
[F1][F2]2026-03-13+25,750→ 515,840 total→ Common Stock (25,750 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]The units will vest in two equal annual installments beginning on March 15, 2027. The vested profits interest units have no expiration date