Mark Denien - Oct 3, 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
Oct 3, 2022
Transactions value $
-$1,993,126
Form type
4
Date filed
10/5/2022, 06:22 PM
Previous filing
Aug 18, 2022
Next filing
Oct 13, 2022

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 LTIP Units Disposed to Issuer -4.47K -100% 0 Oct 3, 2022 Common Stock 4.47K Direct F1, F2
transaction DRE LTIP Units Disposed to Issuer -8.19K -100% 0 Oct 3, 2022 Common Stock 8.19K Direct F1, F3
transaction DRE LTIP Units Disposed to Issuer -10.7K -100% 0 Oct 3, 2022 Common Stock 10.7K Direct F1, F4
transaction DRE LTIP Units Award +38.4K +60.87% 102K Oct 3, 2022 Common Stock 38.4K Direct F1, F5
transaction DRE LTIP Units Disposed to Issuer -$1.99M -38.4K -37.84% $51.88 63.1K Oct 3, 2022 Common Stock 38.4K Direct F1, F6
transaction DRE LTIP Units Disposed to Issuer -63.1K -100% 0 Oct 3, 2022 Common Stock 63.1K Direct F1, F7
transaction DRE Units Award +72.8K +91.66% 152K Oct 3, 2022 Common Stock 72.8K Direct F8, F9
transaction DRE Units Disposed to Issuer -152K -100% 0 Oct 3, 2022 Common Stock 152K Direct F8, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Mark Denien is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 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.
F2 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 2,122 OP common units of Prologis, L.P. having a market value of $101.60 per unit on the effective date of the merger.
F3 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 3,889 OP common units of Prologis, L.P. having a market value of $101.60 per unit on the effective date of the merger.
F4 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 5,093 OP common units of Prologis, L.P. having a market value of $101.60 per unit on the effective date of the merger.
F5 LTIP Units awarded in lieu of performance share plan units, upon meeting the change in control 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 1 and have no expiration date.
F6 This award was canceled in the merger in exchange for a cash payment of $1,993,059.
F7 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 29,979 OP common units of Prologis, L.P. having a market value of $101.60 per unit on the effective date of the merger.
F8 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.
F9 Represents Common Units of DRLP awarded in lieu of performance share plans units according to the terms described in footnote 8, upon meeting the change in control performance-based metrics, pursuant to Rule 16b-3(d) of Section 16b of the Securities Exchange Act of 1934.
F10 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 72,333 OP common units of Prologis, L.P. having a market value of $101.60 per unit on the effective date of the merger.