[Form 4] EQUITY RESIDENTIAL Insider Trading Activity

Rhea-AI Filing Summary

Equity Residential President & CEO Mark J. Parrell reported an equity award linked to the company’s operating partnership. On January 16, 2026, he received 106,959 restricted units (RUs) of ERP Operating Limited Partnership at a price of $0 per unit, and now beneficially owns 106,959 derivative securities from this grant.

The RUs represent restricted limited partnership interests granted in connection with the Company’s 2023 Long-Term Incentive Plan. These units can automatically convert into operating partnership units when certain tax-related capital account targets are met. Subject to vesting and other conditions, the resulting OP Units are exchangeable at the holder’s option for either an equal number of Equity Residential common shares or the cash value of those shares, at the Company’s choice. The RUs from this award are scheduled to vest on February 9, 2026.

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^*

Parrell Mark J.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
01/16/2026

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
Restricted Units(1)	(2)	01/16/2026		A		106,959		(3)	01/01/2033	Common Shares Of Beneficial Interest	106,959	$0	106,959	D

Explanation of Responses:

1. Represents restricted limited partnership interests ("RUs") in ERP Operating Limited Partnership (the "Operating Partnership"), the operating partnership of Equity Residential (the "Company"), retained in connection with the settlement of an award under the Company's 2023 Long-Term Incentive Plan.

2. RUs are a class of partnership interest that automatically convert into an equal number of limited partnership interests of the Operating Partnership ("OP Units") when the capital account related to the RUs reaches a specified target for federal income tax purposes (provided such target is reached within ten years of issuance). Subject to the vesting requirements of the grant and certain other conditions, OP Units are exchangeable by the holder for common shares of the Company on a one-for-one basis or cash value of such shares, at the Company's option. The RUs reflected in this report also include any OP Units into which such RUs automatically convert.

3. The RUs are scheduled to vest on February 9, 2026.

	/s/ Samantha Thompson, Attorney-in-fact	01/21/2026
	** 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).
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FAQ

What insider transaction did Equity Residential (EQR) report?

Equity Residential (EQR) reported that its President & CEO, Mark J. Parrell, received an award of 106,959 restricted units (RUs) of ERP Operating Limited Partnership on January 16, 2026 at a price of $0 per unit.

How many Equity Residential-related units does the CEO own after this Form 4?

Following the reported transaction, 106,959 derivative securities (the restricted units from this award) are beneficially owned directly by President & CEO Mark J. Parrell, according to the filing.

What are the restricted units (RUs) reported for Equity Residential (EQR)?

The award consists of restricted limited partnership interests (RUs) in ERP Operating Limited Partnership, Equity Residential’s operating partnership. These RUs can automatically convert into an equal number of operating partnership units once a specified capital account target is met for federal income tax purposes, if reached within ten years of issuance.

Can the CEO’s restricted units be exchanged for Equity Residential (EQR) common shares?

Yes. Subject to vesting and other conditions, the operating partnership units that arise from these RUs are exchangeable one-for-one for Equity Residential common shares or the cash value of those shares, at the Company’s option.

When do the CEO’s restricted units related to Equity Residential vest?

The filing states that the restricted units are scheduled to vest on February 9, 2026, assuming the vesting requirements and other conditions of the grant are satisfied.

What plan governs this Equity Residential (EQR) restricted unit award?

The restricted units were retained in connection with the settlement of an award granted under Equity Residential’s 2023 Long-Term Incentive Plan, as described in the Form 4 footnotes.