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  4. [Form 4] DIGITAL REALTY TRUST, INC. Insider Trading Activity

Director Bolze receives 1,289 incentive units at Digital Realty (NYSE: DLR)

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Bolze Stephen R. reported acquisition or exercise transactions in this Form 4 filing.

Digital Realty Trust, Inc. director Stephen R. Bolze received a grant of 1,289 Long-Term Incentive Units on May 29, 2026. These are profits interest units in Digital Realty Trust, L.P. that can correspond to 1,289 underlying Common Units on a 1-for-1 basis once full parity is achieved.

The award vests on the earlier of the first anniversary of the grant date or the day before the next annual meeting of stockholders, and vested units have no expiration date. Following this grant, Bolze directly holds 2,032 Long-Term Incentive Units, which may ultimately be redeemable in cash or, at the issuer’s election, shares of common stock.

Positive

  • None.

Negative

  • None.
Insider Bolze Stephen R.
Role null
Type Security Shares Price Value
Grant/Award Long-Term Incentive Units 1,289 $0.00 --
Holdings After Transaction: Long-Term Incentive Units — 2,032 shares (Direct, null)
Footnotes (1)
  1. 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. Awards vest on the earlier of (i) the first anniversary of the grant date or (b) the day before the date of the next annual meeting of stockholders of the Company to occur following the grant date. The vested profits interest units have no expiration date
Incentive units granted 1,289 Long-Term Incentive Units Grant to director Stephen R. Bolze on May 29, 2026
Price per unit $0.0000 per unit Compensation grant, not an open-market purchase
Holdings after grant 2,032 Long-Term Incentive Units Total direct derivative holdings following the transaction
Underlying Common Units 1,289 Common Units 1-for-1 underlying security for the new incentive units
Long-Term Incentive Units financial
"Long-Term Incentive Units are profits interest units in Digital Realty Trust, L.P."
profits interest units financial
"Profits interest units may initially not have full parity with common limited partnership units"
Common Units financial
"Vested profits interest units that have achieved full parity with Common Units may be converted"
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
liquidating distributions financial
"may initially not have full parity with common limited partnership units ... with respect to liquidating distributions"
Payments made to shareholders from a company’s remaining cash or asset sale proceeds when the business is being wound up or reorganized. Like splitting the money after selling a shared house, these distributions return investors’ capital (often after creditors are paid) rather than representing regular profit payouts, so they matter because they determine how much investors recover and can affect tax treatment and final investment value.
annual meeting of stockholders financial
"Awards vest on the earlier of the first anniversary of the grant date or ... the next annual meeting of stockholders"
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Bolze Stephen R.
(Last)(First)(Middle)
601 W. 2ND STREET
FLOOR 32
(Street)
AUSTIN TEXAS 78701
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
DIGITAL REALTY TRUST, INC. [ DLR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/29/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Long-Term Incentive Units(1)(1)05/29/2026A1,289(2) (1) (2)Common Units1,289$02,032D
Explanation of Responses:
1. 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.
2. Awards vest on the earlier of (i) the first anniversary of the grant date or (b) the day before the date of the next annual meeting of stockholders of the Company to occur following the grant date. 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.
/s/ Salini Nandipati, Attorney-in-Fact06/02/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Digital Realty Trust (DLR) director Stephen Bolze report on this Form 4?

Stephen R. Bolze reported receiving 1,289 Long-Term Incentive Units as a compensation award. These derivative units link to 1,289 underlying Common Units and increase his direct holdings to 2,032 Long-Term Incentive Units following the transaction, without any cash purchase price being paid.

Are the Long-Term Incentive Units granted to the DLR director immediately equivalent to common units?

The Long-Term Incentive Units are profits interest units that may not initially have full parity with Common Units. Upon specified events, they can achieve full parity, after which vested units may be converted into an equal number of Common Units on a 1-for-1 basis.

When do Stephen Bolze’s Long-Term Incentive Unit awards at Digital Realty vest?

The awards vest on the earlier of the first anniversary of the grant date or the day before the next annual meeting of stockholders. Once vested and having achieved full parity, these profits interest units may be converted into Common Units without any stated expiration date.

How many Long-Term Incentive Units does the DLR director hold after this Form 4 transaction?

After receiving the new grant of 1,289 Long-Term Incentive Units, Stephen R. Bolze directly holds a total of 2,032 Long-Term Incentive Units. These may correspond to an equal number of Common Units if full parity conditions are met in the future.

Does the Digital Realty director pay cash for the Long-Term Incentive Units reported?

No cash payment is indicated for this award, with a transaction price of $0.0000 per unit. The units represent a compensation-related grant rather than an open-market purchase, consistent with a typical equity incentive structure for directors.

Can the Common Units underlying these DLR incentive awards be exchanged for company stock?

Common Units are redeemable for cash based on the fair market value of an equivalent number of Digital Realty common shares, or, at the issuer’s election, for an equal number of common shares, subject to customary adjustments for stock splits or similar corporate events.