A. William Stein - Mar 4, 2022 Form 4 Insider Report for DIGITAL REALTY TRUST, L.P. (DLR)

Role: CHIEF EXECUTIVE OFFICER, Director
Signature: /s/ Christopher Visgilio, Attorney-in-Fact
Stock symbol: DLR
Transactions as of: Mar 4, 2022
Transactions value $: $0
Form type: 4
Date filed: 3/4/2022, 06:54 PM
Previous filing: Jan 19, 2022
Next filing: Apr 18, 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	DLR	Long-Term Incentive Units	+Grant/Award	$0	+32,180	+12.5%	$0.00	289,702	Mar 4, 2022	Common Units	32,180		Direct	F1, F2

Explanation of Responses:

Id	Content
F1	Long-Term Incentive Units are profits interest units in the Issuer, of which the Digital Realty Trust, Inc. is the general partner (the "General Partner"). Profits interest units may initially not have full parity with common limited partnership units of Operating Partnership ("Common Units") with respect to liquidating distributions; however upon the occurrence of specified events, profits interest units may achieve full parity with Common Units for all purposes. Vested profits interest units that have achieved full parity with Common Units may be converted into an equal number of Common Units on a 1-for-1 basis at any time. Common Units are redeemable for cash based on the FMV of an equivalent number of shares of common stock of the Issuer, or, at the election of the Issuer, for an equal number of shares of the Issuer's common stock, subject to adjustment in the event of stock splits, stock dividends, issuance of stock rights, specified extraordinary distributions or similar events.
F2	The units will vest in two equal annual installments beginning on March 4, 2023. The vested profits interest units have no expiration date.

Content

Long-Term Incentive Units are profits interest units in the Issuer, of which the Digital Realty Trust, Inc. is the general partner (the "General Partner"). Profits interest units may initially not have full parity with common limited partnership units of Operating Partnership ("Common Units") with respect to liquidating distributions; however upon the occurrence of specified events, profits interest units may achieve full parity with Common Units for all purposes. Vested profits interest units that have achieved full parity with Common Units may be converted into an equal number of Common Units on a 1-for-1 basis at any time. Common Units are redeemable for cash based on the FMV of an equivalent number of shares of common stock of the Issuer, or, at the election of the Issuer, for an equal number of shares of the Issuer's common stock, subject to adjustment in the event of stock splits, stock dividends, issuance of stock rights, specified extraordinary distributions or similar events.

The units will vest in two equal annual installments beginning on March 4, 2023. The vested profits interest units have no expiration date.

Remarks:

This statement of changes in beneficial ownership of securities ("Form 4") of the Issuer is being filed to report transactions that are being reported concurrently on a Form 4 for the General Partner.