Justin William Smart - 01 Feb 2024 Form 4 Insider Report for KILROY REALTY CORP (KRC)

Role: President
Signature: /s/ Heidi R. Roth, as attorney-in-fact for Justin William Smart
Issuer symbol: KRC
Transactions as of: 01 Feb 2024
Net transactions value: -$101,306
Form type: 4
Filing time: 05 Feb 2024, 21:39:08 UTC
Previous filing: 12 Jan 2024
Next filing: 12 Apr 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NYSE: KRC	Common stock, par value $0.01 per share	Award	$0	+19,532	+8.9%	$0.000000	237,768	01 Feb 2024	Direct	F1
transaction	NYSE: KRC	Common stock, par value $0.01 per share	Options Exercise	$0	+56,532	+24%	$0.000000	294,300	01 Feb 2024	Direct
transaction	NYSE: KRC	Common stock, par value $0.01 per share	Tax liability	$101,306	-2,878	-0.98%	$35.20	291,422	02 Feb 2024	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NYSE: KRC	Restricted Stock Units	Award	$0	+35,332	+87%	$0.000000	76,062	01 Feb 2024	Common Stock	35,332		Direct	F3, F4
transaction	NYSE: KRC	Restricted Stock Units	Award	$0	+41,604	+55%	$0.000000	117,665	01 Feb 2024	Common Stock	41,604		Direct	F3, F5
transaction	NYSE: KRC	Restricted Stock Units	Options Exercise	$0	-56,532	-48%	$0.000000	61,133	01 Feb 2024	Common Stock	56,532		Direct	F3, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Award of restricted stock units granted pursuant to the Kilroy Realty 2006 Incentive Award Plan. Each restricted stock unit carries with it a right to receive dividend equivalents in respect of the share of stock underlying such restricted stock unit.
F2	Restricted stock units tendered to pay tax withholding.
F3	Each restricted stock unit represents a contingent right to receive one share of Issuer common stock.
F4	The reporting person was awarded performance units in 2021 covering a three-year performance period ending December 31, 2023. The reporting person previously reported the minimum number of units subject to the award eligible to vest based on 2021 performance. The number of units reported reflects the additional number of units that vested based on 2022 and 2023 performance.
F5	The reporting person was awarded performance units in 2023 covering a three-year performance period ending December 31, 2025. The number of units reported reflects the minimum number of units eligible to vest based on 2023 performance. The units remain subject to additional time-based vesting requirements. Up to an additional 83,207.1031 units may vest for the three-year performance period based on the Issuer's performance for that three-year period.
F6	The performance units were awarded in 2021 and the final number of units subject to the award (as adjusted for dividend equivalents through January 31, 2024) was determined based on a three-year performance period ending December 31, 2023. The units are payable in shares of the Issuer's common stock.