Digital Realty (NYSE: DLR) CFO granted 6,896 long-term units in award

Rhea-AI Filing Summary

Digital Realty Trust CFO Matt Mercier reported the acquisition of 6,896 Long-Term Incentive Units on January 15, 2026 at a price of $0 per unit. These units are profits interest units in Digital Realty Trust, L.P., which can, after certain conditions, reach full parity with common partnership units and then be convertible 1-for-1 into Common Units. Those Common Units are redeemable for cash or, at the issuer’s election, an equal number of Digital Realty common shares.

The award was initially granted on January 1, 2023 and was subject to a performance-based vesting condition that was determined to be satisfied on January 15, 2026. The 6,896 units include 660 distribution equivalent units that vested as of December 31, 2025, while the remaining 6,236 units vest based on time, with 50% vesting annually over two years beginning February 27, 2026. Following this grant, Mercier beneficially owns 72,487 derivative securities related to the issuer.

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

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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^*

Mercier Matt

(Last) (First) (Middle)

2323 BRYAN STREET, STE. 1800

(Street)

DALLAS TX 75201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DIGITAL REALTY TRUST, INC. [ DLR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/15/2026

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

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

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

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

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
Long-Term Incentive Units(1)	(1)	01/15/2026		A		6,896(2)		(2)	(2)	Common Stock	6,896	$0	72,487	D

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. Reflects an award initially granted on January 1, 2023 that was subject to a performance-based vesting condition which was determined to be satisfied on January 15, 2026. The number of units reported herein includes 660 distribution equivalent units, which vested effective as of December 31, 2025. The remaining 6,236 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, 2026. 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-Fact	01/16/2026
	** 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.

FAQ

What insider transaction did Digital Realty (DLR) report for its CFO?

Digital Realty Trust’s CFO Matt Mercier reported receiving 6,896 Long-Term Incentive Units on January 15, 2026 at a price of $0 per unit.

What are the Long-Term Incentive Units reported by DLR’s CFO?

The Long-Term Incentive Units are profits interest units in Digital Realty Trust, L.P. that may reach full parity with common partnership units and then be converted 1-for-1 into Common Units, which are redeemable for cash or, at the issuer’s election, an equal number of shares of Digital Realty’s common stock.

How do the 6,896 Long-Term Incentive Units for DLR’s CFO vest?

The 6,896 units reflect an award initially granted on January 1, 2023 that met a performance-based vesting condition on January 15, 2026. This total includes 660 distribution equivalent units that vested as of December 31, 2025, and 6,236 units that vest over time, with 50% vesting annually over two years starting February 27, 2026.

How many derivative securities does the DLR CFO own after this transaction?

After this grant, CFO Matt Mercier beneficially owns 72,487 derivative securities related to Digital Realty Trust, according to the Form 4.

Does the Long-Term Incentive Unit award reported by DLR’s CFO have an expiration date?

The filing states that the vested profits interest units have no expiration date, meaning once vested, they do not expire under the terms described.

When was the performance condition for the DLR CFO’s incentive award satisfied?

The performance-based vesting condition for the award was determined to be satisfied on January 15, 2026, triggering recognition of the 6,896 Long-Term Incentive Units on that date.