Ann C. Dee - Oct 3, 2022 Form 4 Insider Report for DUKE REALTY CORP (DRE)

Signature
Neal A. Lewis for Ann C. Dee per POA prev. filed.
Stock symbol
DRE
Transactions as of
Oct 3, 2022
Transactions value $
-$4,722,452
Form type
4
Date filed
10/5/2022, 06:34 PM
Previous filing
Jul 20, 2022
Next filing
Feb 24, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRE Common Stock Award $0 +74.1K +91.15% $0.00 155K Oct 3, 2022 Direct F1, F2
transaction DRE Common Stock Tax liability -$340K -7.04K -4.53% $48.26 148K Oct 3, 2022 Direct F3
transaction DRE Common Stock Disposed to Issuer -$3.85M -74.1K -49.95% $51.88 74.3K Oct 3, 2022 Direct F4
transaction DRE Common Stock Disposed to Issuer -74.3K -100% 0 Oct 3, 2022 Direct F5
transaction DRE Common Stock Disposed to Issuer -1.47K -100% 0 Oct 3, 2022 By Spouse F6, F7
transaction DRE Common Stock Disposed to Issuer -3.05K -100% 0 Oct 3, 2022 By 401(k) Plan F8, F9

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 -13.7K -100% 0 Oct 3, 2022 Common Stock 13.7K Direct F10, F11
transaction DRE Units Disposed to Issuer -96.7K -100% 0 Oct 3, 2022 Common Stock 96.7K Direct F12, F13
transaction DRE Phantom Stock Units Tax liability -$315K -6.52K -31.99% $48.26 13.9K Oct 3, 2022 Common Stock 6.52K Direct F14, F15, F16
transaction DRE Phantom Stock Units Disposed to Issuer -$222K -4.61K -33.23% $48.26 9.26K Oct 3, 2022 Common Stock 4.61K Direct F14, F17
transaction DRE Phantom Stock Units Disposed to Issuer -9.26K -100% 0 Oct 3, 2022 Common Stock 9.26K Direct F14, F18
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Ann C. Dee is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents an award of performance share plan units pursuant to Rule 16b-3(d) of Section 16b of the Securities Exchange Act of 1934.
F2 Between February 14, 2022 and October 5, 2022, the Reporting Person acquired 261 shares of DRE common stock through dividend reinvestment.
F3 Represents shares withheld for taxes upon the vesting of restricted stock units granted pursuant to Rule 16b-3 of Section 16b of the Securities Exchange Act of 1934.
F4 This award was canceled in the merger in exchange for a cash payment of $3,845,636.
F5 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 35,287 shares of Prologis, Inc. common stock having a market value of $101.60 per share on the effective date of the merger.
F6 Between February 14, 2022 and October 5, 2022, the Reporting Person acquired 15 shares of DRE common stock through dividend reinvestment.
F7 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 697 shares of Prologis, Inc. common stock having a market value of $101.60 per share on the effective date of the merger.
F8 Between February 14, 2022 and October 5, 2022, the Reporting Person acquired 253 shares of DRE's common stock under the Company's 401(k) plan.
F9 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 1,449 shares of Prologis, Inc. common stock having a market value of $101.60 per share on the effective date of the merger.
F10 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.
F11 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 6,485 OP common units of Prologis, L.P. having a market value of $101.60 per unit on the effective date of the merger.
F12 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.
F13 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 45,948 OP common units of Prologis, L.P. having a market value of $101.60 per unit on the effective date of the merger.
F14 Represents phantom stock units accrued under the Executives' Deferred Compensation Plan of Duke Realty Services Limited Partnership. The units are valued on a one to one basis to the Company's common stock and are to be settled in cash and/or stock upon the Reporting Person's termination of employment.
F15 Represents shares withheld for taxes upon the distribution of deferred shares granted pursuant to Rule 16b-3 of Section 16b of the Securities Exchange Act of 1934.
F16 Between February 14, 2022 and October 5, 2022, the Reporting Person acquired 255 shares of DRE common stock through dividend reinvestment.
F17 This award was canceled in the merger in exchange for a cash payment of $222,382.
F18 Disposed of pursuant to merger agreement between issuer and Prologis, Inc. in exchange for 4,398 shares of Prologis, Inc. common stock having a market value of $101.60 per share on the effective date of the merger.