Equity Residential (EQR) COO gets new stock awards and sells shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Equity Residential Executive Vice President and COO Michael L. Manelis reported multiple equity compensation transactions. On February 9, 2026 he acquired 12,010 restricted common shares at $0, bringing his direct common share holdings to 51,896, and received grants of 43,542 non-qualified stock options at an exercise price of $64.67 and 6,416 Restricted Units linked to partnership interests, all scheduled to vest between 2027 and 2029. On February 10, 2026 he sold 5,765 common shares at $65.13 per share to pay tax liabilities from vesting, leaving 46,131 directly held common shares and 1,326 additional shares held indirectly in a SERP account.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 5,765 shares ($375,474)
Net Sell
5 txns
Insider
Manelis Michael L
Role
Executive Vice President & COO
Sold
5,765 shs ($375K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Shares Of Beneficial Interest | 5,765 | $65.13 | $375K |
| Grant/Award | Non-qualified Stock Option (Right to Buy) | 43,542 | $0.00 | -- |
| Grant/Award | Restricted Units | 6,416 | $0.00 | -- |
| Grant/Award | Common Shares Of Beneficial Interest | 12,010 | $0.00 | -- |
| holding | Common Shares Of Beneficial Interest | -- | -- | -- |
Holdings After Transaction:
Common Shares Of Beneficial Interest — 46,131 shares (Direct);
Non-qualified Stock Option (Right to Buy) — 43,542 shares (Direct);
Restricted Units — 6,416 shares (Direct);
Common Shares Of Beneficial Interest — 1,326 shares (Indirect, SERP Account)
Footnotes (1)
- Represents restricted shares scheduled to vest on February 9, 2029. Direct total includes restricted shares of Equity Residential scheduled to vest in the future. Represents the sale of shares for the payment of tax liability incurred upon the vesting of restricted shares. Represents shares owned by Principal Trust Company, as Trustee of the Equity Residential Supplemental Executive Retirement Plan (the "SERP"), for the benefit of the reporting person. Represents share options scheduled to vest in three equal installments on February 9, 2027, February 9, 2028 and February 9, 2029. On February 9, 2026, the reporting person received a grant of Series 2026B restricted limited partnership interests ("RUs") in ERP Operating Limited Partnership (the "OP"), the operating partnership of Equity Residential (the "Company"), in lieu of restricted shares of the Company as part of the Company's annual grant of long-term compensation. RUs are a class of partnership interest that automatically convert into an equal number of limited partnership interests of the OP ("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 restrictions, OP Units are exchangeable by the holder for common shares of the Company on a one-for-one basis or the 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. The Restricted Units are scheduled to vest on February 9, 2029.
FAQ
What did EQR Executive Vice President and COO Michael Manelis acquire in this Form 4 filing?
Michael Manelis received 12,010 restricted common shares, 43,542 non-qualified stock options, and 6,416 Restricted Units on February 9, 2026. These awards form part of Equity Residential’s long-term compensation program and vest between 2027 and 2029, subject to stated vesting conditions.
What are the vesting terms of the stock options granted to EQR’s Michael Manelis?
The 43,542 non-qualified stock options granted at an exercise price of $64.67 per share are scheduled to vest in three equal installments on February 9, 2027, February 9, 2028, and February 9, 2029, providing staged future exercisability over those years.
What are the Restricted Units granted to Michael Manelis by Equity Residential (EQR)?
He received 6,416 Series 2026B Restricted Units tied to ERP Operating Limited Partnership interests instead of restricted shares. These units, including any resulting OP Units, are scheduled to vest on February 9, 2029, and may be exchangeable for common shares or cash, at the company’s option.