Equity Residential Insider Purchase: Ian Kaufman Acquires 37 Shares

Rhea-AI Filing Summary

Ian Kaufman, Chief Accounting Officer of Equity Residential (EQR), reported an insider purchase on 08/14/2025. He acquired 37 common shares at a price of $53.98 through the company's Employee Share Purchase Plan. After the transaction he beneficially owns 25,720 shares directly (which include restricted shares scheduled to vest) and 628 shares indirectly via the Equity Residential Advantage 401(k) plan (acquisitions through July 16, 2025). No derivative transactions are reported. The Form 4 was signed by an attorney-in-fact on 08/18/2025.

Positive

• Officer purchase through ESPP shows insider buying, aligning personal participation with shareholder interests
• Clear disclosure of direct and indirect holdings, including restricted shares and 401(k) activity, reflects compliance with reporting rules

Negative

• None.

Insights

Financial Analyst

TL;DR: Small insider purchase by a senior officer; signals modest personal investment but is not material for valuation.

The reported acquisition is limited in size: 37 shares at $53.98 is a minor purchase relative to the officer's total reported holdings. The direct ownership of 25,720 shares and indirect 628 shares provides context on the officer's stake but does not represent a material change to equity structure or control. There are no derivative positions disclosed, and the acquisition method (ESPP) is routine compensation-related activity.

Corporate Governance Expert

TL;DR: Filing shows routine, compliant disclosure of an ESPP purchase by an officer; no governance red flags.

The Form 4 discloses the transaction clearly and includes explanations for direct and indirect holdings, satisfying Section 16 reporting expectations. The use of an attorney-in-fact to sign the filing is documented and customary. There is no indication of unusual timing, derivative usage, or large-scale insider selling that would raise immediate governance concerns.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Kaufman Ian

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Shares Of Beneficial Interest	37	$53.98	$2K
holding	Common Shares Of Beneficial Interest	--	--	--

Holdings After Transaction: Common Shares Of Beneficial Interest — 25,720 shares (Direct); Common Shares Of Beneficial Interest — 628 shares (Indirect, 401(k) Plan)

Footnotes (1)

1. Represents shares acquired through Equity Residential's Employee Share Purchase Plan. Direct total includes restricted shares of Equity Residential scheduled to vest in the future. Represents shares acquired through profit sharing contributions and dividend reinvestment activity in the reporting person's account with the Equity Residential Advantage 401(k) Retirement Savings Plan, a plan qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. Such shares represent acquisitions through July 16, 2025.

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^*

Kaufman Ian

(Last) (First) (Middle)

TWO NORTH RIVERSIDE PLAZA, SUITE 400

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EQUITY RESIDENTIAL [ EQR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

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 Shares Of Beneficial Interest	08/14/2025		A		37(1)	A	$53.98	25,720(2)	D
Common Shares Of Beneficial Interest								628(3)	I	401(k) Plan

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

Explanation of Responses:

1. Represents shares acquired through Equity Residential's Employee Share Purchase Plan.

2. Direct total includes restricted shares of Equity Residential scheduled to vest in the future.

3. Represents shares acquired through profit sharing contributions and dividend reinvestment activity in the reporting person's account with the Equity Residential Advantage 401(k) Retirement Savings Plan, a plan qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. Such shares represent acquisitions through July 16, 2025.

	/s/ Samantha Thompson, Attorney-in-fact	08/18/2025
	** 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 did EQR insider Ian Kaufman report on Form 4?

He reported acquiring 37 common shares of Equity Residential on 08/14/2025 at $53.98 via the company's Employee Share Purchase Plan.

How many Equity Residential shares does Ian Kaufman own after the transaction?

Following the reported transaction he beneficially owns 25,720 shares directly and 628 shares indirectly through the 401(k) plan.

Were any derivative securities disclosed in the filing?

No. The Form 4 reports only non-derivative common share activity and contains no derivative transactions.

What is the significance of the 401(k) holdings listed on the Form 4?

The 628 shares represent profit sharing contributions and dividend reinvestment in his Equity Residential Advantage 401(k) account, with acquisitions recorded through July 16, 2025.

When was the Form 4 signed and by whom?

The filing was signed by Samantha Thompson, Attorney-in-fact on 08/18/2025.