Mark Denien - Aug 1, 2022 Form 4 Insider Report for DUKE REALTY CORP (DRE)

Role
EVP & CFO
Signature
Neal A. Lewis for Mark A. Denien per POA prev. filed.
Stock symbol
DRE
Transactions as of
Aug 1, 2022
Transactions value $
-$9,297,879
Form type
4
Date filed
8/3/2022, 04:42 PM
Previous filing
Feb 14, 2022
Next filing
Aug 18, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRE Common Stock Conversion of derivative security +140K 140K Aug 1, 2022 Direct F1
transaction DRE Common Stock Sale -$8.7M -140K -100% $62.13 0 Aug 3, 2022 Direct F2
transaction DRE Common Stock Sale -$600K -9.65K -100% $62.13 0 Aug 3, 2022 By 401(k) Plan F3

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 DRE Units Conversion of derivative security $0 -140K -62.15% $0.00 85.3K Aug 1, 2022 Common Stock 140K Direct F1, F9
holding DRE LTIP Units 4.47K Aug 1, 2022 Common Stock 4.47K Direct F4, F5
holding DRE LTIP Units 8.19K Aug 1, 2022 Common Stock 8.19K Direct F4, F6
holding DRE LTIP Units 10.7K Aug 1, 2022 Common Stock 10.7K Direct F4, F7
holding DRE LTIP Units 63.1K Aug 1, 2022 Common Stock 63.1K Direct F4, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person redeemed 140,000 Common Units of Duke Realty Limited Partnership (DRLP), of which the Issuer is the general partner. Common Units are described in footnote 9.
F2 In addition to security ownership disclosed above in Table I, Reporting Person's beneficial ownership of company securities includes derivative LTIP partnership unit securities disclosed in Table II.
F3 Between February 14, 2022 and August 3, 2022, the Reporting Person acquired 12 shares of DRE's common stock under the Company's 401(k) Plan.
F4 Represents units of limited partnership interest (LTIP Unit) in Duke Realty Limited Partnership (DRLP), of which the Issuer is the general partner, issued as long term incentive compensation pursuant to the Issuer's equity based incentive programs. When both earned and vested, each LTIP Unit will automatically convert into a Common Unit of limited partnership interest in DRLP. Each Common Unit acquired upon the conversion of an LTIP Unit is redeemable by the holder for shares of common stock of the Issuer on a one-for-one basis. LTIP Units converted to Common Units are generally not redeemable until two years from the date of the grant.
F5 LTIP Units vest in three equal installments beginning on February 10, 2021 and have no expiration date.
F6 LTIP Units vest in three equal installments beginning on February 10, 2022 and have no expiration date.
F7 LTIP Units vest in three equal installments beginning on February 10, 2023 and have no expiration date.
F8 LTIP Units awarded in lieu of performance share plan units, upon meeting the performance-based conditions and pursuant to Rule 16b-3(d) of Section 16b of the Securities Exchange Act of 1934. LTIP Units are awarded according to the terms described in footnote 4 and have no expiration date.
F9 Represents LTIP Units that have converted to Common Units of DRLP. Each Common Unit is redeemable by the holder for shares of common stock of the Issuer on a one-for-one basis. LTIP Units converted to Common Units are generally not redeemable until two years from the date of grant and have no expiration date.