Andrew Power - Jan 13, 2023 Form 4 Insider Report for DIGITAL REALTY TRUST, INC. (DLR)

Signature
/s/ Christopher Visgilio, Attorney-in-Fact
Stock symbol
DLR
Transactions as of
Jan 13, 2023
Transactions value $
$0
Form type
4
Date filed
1/18/2023, 04:37 PM
Previous filing
Jan 4, 2023
Next filing
Mar 7, 2023

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 Award $0 +11.6K +4.84% $0.00 250K Jan 13, 2023 Common Stock 11.6K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Long-Term Incentive Units are profits interest units in Digital Realty Trust, L.P. ("Operating Partnership"), of which the Issuer is 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 Reflects an award initially granted on February 19, 2020 that was subject to a performance-based vesting condition which was determined to be satisfied on January 13, 2023. The number of units reported herein includes 811 distribution equivalent units, which vested effective as of December 31, 2022. The remaining 10,751 units are subject to an additional time-based vesting condition, pursuant to which 50% of the units will vest annually over two years, beginning on February 27, 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 Operating Partnership.