Brandywine (NYSE: BDN) director gets 37,582-share, $115,000 trustee award

Rhea-AI Filing Summary

HAVERSTICK H RICHARD JR reported acquisition or exercise transactions in this Form 4 filing.

Brandywine Realty Trust director H. Richard Haverstick Jr received a grant of 37,582 Common Shares of Beneficial Interest as part of his $115,000 Annual Trustee award. The number of shares was calculated using a closing price of $3.06 on 05/28/26, and the shares vested immediately upon grant.

After this award, he directly holds a total of 170,929 common shares. This is a compensation-related equity grant rather than an open-market purchase or sale, so it mainly reflects how the company structures trustee pay in stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider HAVERSTICK H RICHARD JR

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 — 170,929 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Trustee award value: $115,000 Shares granted: 37,582 shares Grant price reference: $3.06 per share +1 more

4 metrics

Trustee award value $115,000 Annual Trustee equity award for director

Shares granted 37,582 shares Common Shares of Beneficial Interest granted on 05/28/26

Grant price reference $3.06 per share Closing price on 05/28/26 used to calculate award shares

Post-grant holdings 170,929 shares Total common shares directly owned after award

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^*

HAVERSTICK H RICHARD JR

(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	170,929	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 H. Richard Haverstick	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 did H. Richard Haverstick Jr receive in this Brandywine (BDN) Form 4?

He received 37,582 common shares as an equity award. The grant represents his $115,000 Annual Trustee award, paid in stock instead of cash, and is a compensation-related acquisition.

How was the number of Brandywine (BDN) shares in the trustee award calculated?

The 37,582 shares were based on a closing price of $3.06 on May 28, 2026. Dividing the $115,000 Annual Trustee award by this price determined the share count.

Did the Brandywine (BDN) trustee award shares vest immediately?

Yes, the awarded 37,582 common shares vested immediately upon grant. Immediate vesting means the director does not have to wait through a vesting schedule to own the shares outright.

How many Brandywine (BDN) shares does H. Richard Haverstick Jr now hold?

Following this grant, he directly owns 170,929 common shares. This total includes the newly awarded 37,582 shares and reflects his updated direct ownership position after the transaction.

Was this Brandywine (BDN) Form 4 a market purchase or sale?

No, it was not a market trade. The filing reports a grant or award of 37,582 shares as trustee compensation, with no cash paid by the director and no open-market buying or selling.