Brandywine Realty Trust (BDN) director granted $115,000 in common shares

Rhea-AI Filing Summary

PIZZI CHARLES P reported acquisition or exercise transactions in this Form 4 filing.

BRANDYWINE REALTY TRUST director Charles P. Pizzi received an equity award of 37,582 common shares of beneficial interest. The award represents an Annual Trustee grant valued at $115,000, based on a closing share price of $3.06 on May 28, 2026. The shares vested immediately upon grant, and following this transaction he directly holds 203,772 common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider PIZZI CHARLES P

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Shares of Beneficial Interest	37,582	$0.00	--

Holdings After Transaction: Common Shares of Beneficial Interest — 203,772 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 37,582 shares Award value: $115,000 Reference price: $3.06 per share +2 more

5 metrics

Shares granted 37,582 shares Annual Trustee award on May 28, 2026

Award value $115,000 Annual Trustee equity grant

Reference price $3.06 per share Closing price on May 28, 2026 used to calculate shares

Shares after transaction 203,772 shares Director’s direct holdings following the grant

Transaction code A (grant/award acquisition) Non-derivative equity award to director

Key Terms

Annual Trustee award, Common Shares of Beneficial Interest, vested immediately upon grant, Grant, award, or other acquisition

4 terms

Annual Trustee award financial

"These shares reflect the $115,000 Annual Trustee award, the number of shares of which is calculated..."

Common Shares of Beneficial Interest financial

"security_title: Common Shares of Beneficial Interest"

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

vested immediately upon grant financial

"Shares vested immediately upon grant."

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

PIZZI CHARLES P

(Last) (First) (Middle)

2929 ARCH STREET, SUITE 1800

SUITE 1800

(Street)

PHILADELPHIA PENNSYLVANIA 19104

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BRANDYWINE REALTY TRUST [ BDN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest	05/28/2026		A		37,582(1)	A	$0	203,772	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares reflect the $115,000 Annual Trustee award, the number of shares of which is calculated based upon a closing price on 05/28/26 of $3.06. Shares vested immediately upon grant.

	/s/ Shawn Neuman as Attorney-in-Fact for Charles P. Pizzi	06/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did BRANDYWINE REALTY TRUST (BDN) report for Charles P. Pizzi?

BRANDYWINE REALTY TRUST reported that director Charles P. Pizzi received a grant of 37,582 common shares of beneficial interest. This was a compensation-related Annual Trustee equity award rather than an open-market stock purchase or sale.

What is the value of the equity award granted to the BDN director?

The equity award to the BRANDYWINE REALTY TRUST director was valued at $115,000. The number of shares, 37,582, was calculated using a closing share price of $3.06 on May 28, 2026, as disclosed in the filing footnote.

How many BRANDYWINE REALTY TRUST (BDN) shares does Charles P. Pizzi hold after this grant?

After receiving the 37,582-share equity award, Charles P. Pizzi directly holds 203,772 common shares of beneficial interest in BRANDYWINE REALTY TRUST. This figure represents his direct ownership position reported immediately following the transaction.

Was the BDN director’s 37,582-share transaction an open-market buy or a compensation grant?

The 37,582-share transaction for the BRANDYWINE REALTY TRUST director was a compensation-related grant. The filing describes it as an Annual Trustee award with a zero purchase price, not an open-market stock purchase or sale.

Did the BDN director’s equity award vest immediately?

Yes. The footnote states that the shares from the $115,000 Annual Trustee award vested immediately upon grant. This means the director gained full ownership of the 37,582 common shares as of the transaction date.