DLR director granted 153 long-term incentive units

Swanezy Susan reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Swanezy Susan reported acquisition or exercise transactions in this Form 4 filing.

DIGITAL REALTY TRUST, INC. director Susan Swanezy reported receiving a grant of 153 Long-Term Incentive Units on common stock. These units were awarded at a price of $0.00 per unit as part of her equity compensation.

Each Long-Term Incentive Unit represents a profits interest unit in Digital Realty Trust, L.P. that may, after certain conditions are met, achieve parity with common partnership units and be convertible into an equal number of common units and ultimately cash or an equal number of common shares. Following this award, Swanezy holds 5,010 Long-Term Incentive Units directly.

Insider Trade Summary

Grant/Award: 153 shares

Grant/Award 1 txn

Insider Swanezy Susan

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Long-Term Incentive Units	153	$0.00	$0.00

Holdings After Transaction: Long-Term Incentive Units — 5,010 contracts (Direct)

Footnotes (2)

1. F1. 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. F2. N/A

Key Figures

Long-Term Incentive Units granted: 153 units Units held after transaction: 5,010 units Underlying common stock per unit: 1 share per unit +1 more

4 metrics

Long-Term Incentive Units granted 153 units Grant on 2026-06-30 at $0.00 per unit

Units held after transaction 5,010 units Total Long-Term Incentive Units directly held post-grant

Underlying common stock per unit 1 share per unit Each vested, parity Long-Term Incentive Unit can convert 1-for-1 into common units

Underlying shares for this grant 153 shares Underlying common stock tied to the 153 Long-Term Incentive Units

Key Terms

Long-Term Incentive Units, profits interest units, Common Units, liquidating distributions, +1 more

5 terms

Long-Term Incentive Units financial

"Long-Term Incentive Units are profits interest units in Digital Realty Trust, L.P."

profits interest units financial

"Long-Term Incentive Units are profits interest units in Digital Realty Trust, L.P."

Common Units financial

"profits interest units may achieve full parity with Common Units for all purposes."

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 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.

fair market value financial

"Common Units are redeemable for cash based on the FMV of an equivalent number of shares of common stock"

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did DIGITAL REALTY TRUST (DLR) director Susan Swanezy report?

Susan Swanezy reported receiving a grant of 153 Long-Term Incentive Units tied to common stock. The award was priced at $0.00 per unit and is part of her equity-based compensation as a director, increasing her total Long-Term Incentive Unit holdings to 5,010.

How many Long-Term Incentive Units does Susan Swanezy hold after this DLR Form 4?

After the reported grant, Susan Swanezy holds 5,010 Long-Term Incentive Units directly. This reflects her cumulative equity-based awards in the form of profits interest units, which may under certain conditions become economically similar to common units and be convertible on a 1-for-1 basis.

What are Long-Term Incentive Units reported in DIGITAL REALTY TRUST (DLR) Form 4?

Long-Term Incentive Units are profits interest units in Digital Realty Trust, L.P., where DIGITAL REALTY TRUST, INC. is general partner. These units may initially lack full parity with common partnership units but can, after specified events, achieve full parity and become convertible into an equal number of common units.

Can the Long-Term Incentive Units in this DLR filing convert into common stock?

Vested Long-Term Incentive Units that achieve full parity may be converted into an equal number of common units on a 1-for-1 basis. Those common units can then be redeemed for cash equal to the fair market value of the issuer’s common stock, or for an equal number of common shares.

Was this DIGITAL REALTY TRUST (DLR) insider transaction an open-market buy or sale?

No, the Form 4 shows a grant classified as a “Grant, award, or other acquisition” at $0.00 per unit. It is a compensation-related award of 153 Long-Term Incentive Units, not an open-market purchase or sale of DIGITAL REALTY TRUST, INC. common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/02/2026 - 04:05 PM Learn about SEC filing dates

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^*

Swanezy Susan

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

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

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)	06/30/2026		A		153		(1)	(2)	Common Stock	153	$0	5,010	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. N/A

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	07/02/2026
	** 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)