Mark S. Shapiro - Jul 1, 2025 Form 4 Insider Report for EQUITY RESIDENTIAL (EQR)

Role: Director
Signature: /s/ Samantha Thompson, Attorney-in-fact
Stock symbol: EQR
Transactions as of: Jul 1, 2025
Transactions value $: $0
Form type: 4
Date filed: 7/3/2025, 04:23 PM
Previous filing: Mar 26, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
SHAPIRO MARK S	Director	TWO NORTH RIVERSIDE PLAZA, SUITE 400, CHICAGO	/s/ Samantha Thompson, Attorney-in-fact	2025-07-03	0001345978

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	EQR	Restricted Units	Award	$0	+3.39K		$0.00	3.39K	Jul 1, 2025	Common Shares Of Beneficial Interest	3.39K		Direct	F1, F2, F3

Showing 1 to 1 of 1 entries

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

Explanation of Responses:

Id	Content
F1	On July 1, 2025, the reporting person elected to receive a grant of Series 2025D restricted limited partnership interests ("RUs") in ERP Operating Limited Partnership (the "OP"), the OP of Equity Residential (the "Company"), in connection with the Company's annual grant of long-term compensation for prospective service from the 2025 Annual Meeting of Shareholders to the 2026 Annual Meeting of Shareholders.
F2	RUs are a class of partnership interest that automatically convert into an equal number of limited partnership interests of the OP ("OP Units") when the capital account related to the RUs reaches a specified target for federal income tax purposes (provided such target is reached within ten years of issuance). Subject to the vesting requirements of the grant and certain other restrictions, OP Units are exchangeable by the holder for common shares of the Company on a one-for-one basis or the cash value of such shares, at the Company's option. The RUs reflected in this report also include any OP Units into which such RUs automatically convert.
F3	The RUs are scheduled to vest on July 1, 2026. In addition, the RUs (including any OP Units into which they may automatically convert) are subject to a holding restriction until July 1, 2027.