Digital Realty Trust (NYSE: DLR) CEO granted 37,489 incentive units

Rhea-AI Filing Summary

Digital Realty Trust, Inc. insider equity award reported

The President and CEO, who also serves as a director of Digital Realty Trust, Inc. (DLR), reported receiving 37,489 Long-Term Incentive Units in Digital Realty Trust, L.P. effective 01/01/2026. These units are a form of profits interest that can, after meeting specified conditions, reach parity with common partnership units and ultimately correspond to an equal number of shares of the company’s common stock.

The units will vest in four equal annual installments beginning on February 27, 2027, aligning the executive’s compensation with long-term performance. After this transaction, 381,040 derivative securities are beneficially owned directly, reflecting the executive’s ongoing equity stake in the business.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Power Andrew

Role PRESIDENT AND CEO

Type	Security	Shares	Price	Value
Grant/Award	Long-Term Incentive Units	37,489	$0.00	--

Holdings After Transaction: Long-Term Incentive Units — 381,040 shares (Direct)

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. The units will vest in four equal annual installments beginning on February 27, 2027. The vested profits interest units have no expiration date.

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^*

Power Andrew

(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
X	Officer (give title below)		Other (specify below)
	PRESIDENT AND CEO

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

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)	01/01/2026		A		37,489(2)		(1)	(2)	Common Stock	37,489	$0	381,040	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 units will vest in four equal annual installments beginning on February 27, 2027. 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	01/05/2026
	** 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 Trust (DLR) report in this filing?

The filing reports that the President and CEO, who is also a director, received 37,489 Long-Term Incentive Units in Digital Realty Trust, L.P. effective 01/01/2026.

How do the Long-Term Incentive Units for DLR’s CEO relate to common stock?

The Long-Term Incentive Units are profits interest units that may, after specified events and vesting, reach full parity with common partnership units and can then be converted into an equal number of Common Units, which are in turn redeemable for cash or an equal number of shares of Digital Realty Trust, Inc. common stock.

When do the CEO’s Long-Term Incentive Units at Digital Realty Trust vest?

The 37,489 units will vest in four equal annual installments beginning on February 27, 2027. The vested profits interest units have no expiration date.

What is the CEO’s derivative securities ownership after this DLR transaction?

Following the reported grant, the form states that 381,040 derivative securities are beneficially owned directly by the reporting person.

What role does the reporting person hold at Digital Realty Trust (DLR)?

The reporting person is identified as both a Director and an Officer, serving in the role of PRESIDENT AND CEO of Digital Realty Trust, Inc.

What is the price listed for the Long-Term Incentive Units in this DLR filing?

The table lists a price of $0 for the Long-Term Incentive Units, reflecting that this is an equity award rather than an open-market purchase.

Are the Long-Term Incentive Units in this DLR filing reported as directly owned?

Yes. The form indicates the ownership form as Direct (D) for the 381,040 derivative securities beneficially owned following the reported transaction.