Digital Realty (DLR) director exercises 4,166 units and sells common stock

Rhea-AI Filing Summary

Digital Realty Trust, Inc. director reports equity award exercise and sale. A director of Digital Realty Trust, Inc. converted 4,166 Long-Term Incentive Units of Digital Realty Trust, L.P. into 4,166 shares of common stock on 11/26/2025 at an exercise price of $0. These shares were then sold on 12/01/2025 in open-market transactions at a weighted average price of $157.42, with individual trades occurring between $157.39 and $157.42. After these transactions, the reporting person held 11,374 Long-Term Incentive Units directly, which are profits interest units in the operating partnership that, once vested and at full parity, can be converted into common units and ultimately may be redeemed for cash or an equal number of shares of the company’s common stock.

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^*

Preusse Mary Hogan

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/26/2025

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
Common Stock	11/26/2025		M(1)		4,166	A	$0	4,166	D
Common Stock	12/01/2025		S		4,166	D	$157.42(2)	0	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
Long-Term Incentive Units(1)	(1)	11/26/2025		M			4,166	(1)	(3)	Common Stock	4,166	$0	11,374	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. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging $157.39 to $157.42.

3. 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.

	/s/ Salini Nandipati , Attorney-in-Fact	12/01/2025
	** 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 Trust (DLR) report in this Form 4?

The filing shows a director converted 4,166 Long-Term Incentive Units into 4,166 shares of common stock on 11/26/2025 and then sold those 4,166 shares on 12/01/2025 in open-market transactions.

At what price were the Digital Realty Trust (DLR) shares sold by the director?

The 4,166 shares of common stock were sold at a weighted average price of $157.42 per share, with individual trades executed between $157.39 and $157.42.

What are Long-Term Incentive Units referenced in the Digital Realty Trust (DLR) Form 4?

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

How many Long-Term Incentive Units does the Digital Realty Trust (DLR) director hold after the reported transactions?

Following the reported exercise and sale, the reporting person directly beneficially owns 11,374 Long-Term Incentive Units.

What is the relationship of the reporting person to Digital Realty Trust (DLR)?

The reporting person is identified as a Director of Digital Realty Trust, Inc. and is filing the Form 4 as an individual reporting person.

Did the Digital Realty Trust (DLR) director use a Rule 10b5-1 trading plan?

The form includes a checkbox for indicating transactions made under a Rule 10b5-1(c) trading plan, but the excerpt does not show that this box was checked, so no plan is identified here.