Andrew Power - 12 Sep 2025 Form 4 Insider Report for DIGITAL REALTY TRUST, INC. (DLR)

Role: PRESIDENT AND CEO, Director
Signature: /s/ Salini Nandipati, Attorney-in-Fact
Issuer symbol: DLR
Transactions as of: 12 Sep 2025
Net transactions value: -$10,158,996
Form type: 4
Filing time: 16 Sep 2025, 16:17:51 UTC
Previous filing: 22 May 2025
Next filing: 19 Sep 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Power Andrew	PRESIDENT AND CEO, Director	2323 BRYAN STREET, STE. 1800, DALLAS	/s/ Salini Nandipati, Attorney-in-Fact	16 Sep 2025	0001641275

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DLR	Common Stock	Options Exercise	$0	+4,731		$0.000000	4,731	12 Sep 2025	Direct	F1, F2
transaction	DLR	Common Stock	Sale	$828,398	-4,731	-100%	$175.10	0	12 Sep 2025	Direct	F2, F3
transaction	DLR	Common Stock	Options Exercise	$0	+53,269		$0.000000	53,269	15 Sep 2025	Direct	F1, F2
transaction	DLR	Common Stock	Sale	$9,330,598	-53,269	-100%	$175.16	0	15 Sep 2025	Direct	F2, F4

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	Options Exercise	$0	-4,731	-1.2%	$0.000000	397,970	12 Sep 2025	Common Stock	4,731		Direct	F2, F5, F6
transaction	DLR	Long-Term Incentive Units	Options Exercise	$0	-53,269	-13%	$0.000000	344,701	15 Sep 2025	Common Stock	53,269		Direct	F2, F5, F6

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

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	The reporting person converted long-term incentive units into common limited partnership units ("Common Units") of Digital Realty Trust, L.P. (the "Operating Partnership"), of which the Issuer is the general partner, and subsequently redeemed the Common Units for shares of the common stock of the Issuer, all in accordance with the requirements of the Limited Partnership Agreement of the Operating Partnership.
F2	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.
F3	The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $175.00 to 175.46.
F4	The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $175.00 to $175.68.
F5	The transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 plan adopted by Mr. Power on May 5, 2025.
F6	N/A

Remarks:

The 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.