Kilroy Realty Corp (NYSE: KRC) President granted additional stock and performance RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Smart Justin William reported acquisition or exercise transactions in this Form 4 filing.
Kilroy Realty Corp President Justin William Smart reported equity compensation awards. He received a grant of 5,429.4658 shares of common stock and additional restricted stock units tied to prior awards as dividend-equivalent credits. Following these awards, he directly holds 525,301.6401 common shares plus a substantial restricted stock unit position that remains subject to performance and time-based vesting conditions.
Positive
- None.
Negative
- None.
Insights
Routine equity awards via dividend equivalents; no open-market buying or selling.
President Justin William Smart received equity awards labeled as grants or awards, not market transactions. These include 5,429.4658 shares of common stock and additional restricted stock units credited as dividend equivalent rights linked to previously granted restricted stock unit and performance unit awards.
Each restricted stock unit represents a contingent right to one share of common stock, and the footnotes state that the performance units cover multi-year periods ending on December 31, 2026 and December 31, 2027. The additional units credited remain subject to time-based vesting, so economic benefit depends on future service and performance, not immediate market action. No shares were sold or disposed of in these transactions.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Smart Justin William
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 711.562 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 674.714 | $0.00 | -- |
| Grant/Award | Common stock, par value $0.01 per share | 5,429.466 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Units — 99,137.821 shares (Direct, null);
Common stock, par value $0.01 per share — 525,301.64 shares (Direct, null)
Footnotes (1)
- Grant of restricted stock units in respect of dividend equivalent rights with respect to underlying restricted stock unit awards previously reported on Table I, which were granted pursuant to the Kilroy Realty 2006 Incentive Award Plan and the terms of the applicable award agreement. Crediting of restricted stock units in respect of dividend equivalent rights with respect to underlying restricted stock unit awards previously reported on Table II, which were granted pursuant to the Kilroy Realty 2006 Incentive Award Plan and the terms of the applicable award agreement. Each restricted stock unit represents a contingent right to receive one share of Issuer common stock. The reporting person was awarded performance units in 2024 covering a three-year performance period ending December 31, 2026. The reporting person previously reported the minimum number of units subject to the award eligible to vest based on 2024 and 2025 performance. The number of units reported reflects the additional minimum number of units eligible to vest as a result of the crediting of restricted stock units in respect of dividend equivalent rights. The units remain subject to additional time-based vesting requirements. The reporting person was awarded performance units in 2025 covering a three-year performance period ending December 31, 2027. The reporting person previously reported the minimum number of units subject to the award eligible to vest based on 2025 performance. The number of units reported reflects the additional minimum number of units eligible to vest as a result of the crediting of restricted stock units in respect of dividend equivalent rights. The units remain subject to additional time-based vesting requirements.
Key Figures
Common shares granted: 5,429.4658 shares
Common shares held after grant: 525,301.6401 shares
RSUs granted (first award): 674.7137 units
+3 more
6 metrics
Common shares granted
5,429.4658 shares
Grant of common stock on July 8, 2026 as a compensation award
Common shares held after grant
525,301.6401 shares
Direct non-derivative common stock ownership following the reported grant
RSUs granted (first award)
674.7137 units
Restricted stock units credited as dividend equivalents linked to prior RSU/performance awards
RSUs granted (second award)
711.5615 units
Additional restricted stock units credited as dividend equivalents
RSUs outstanding after first line
99,812.5350 units
Restricted stock unit balance after the 674.7137-unit credit
RSUs outstanding after second line
99,137.8213 units
Restricted stock unit balance after the 711.5615-unit credit
Key Terms
restricted stock units, dividend equivalent rights, performance units, time-based vesting requirements
4 terms
restricted stock units financial
"Grant of restricted stock units in respect of dividend equivalent rights"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
dividend equivalent rights financial
"restricted stock units in respect of dividend equivalent rights with respect to underlying"
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
performance units financial
"The reporting person was awarded performance units in 2024 covering a three-year"
Performance units are company awards that become valuable only if specified business targets are met; they typically convert into shares or cash when performance goals are achieved. Think of them like a conditional bonus that turns into stock only if the company hits agreed milestones, so they align managers’ incentives with shareholders’ interests and can affect future share count, executive pay expense, and investor returns.
time-based vesting requirements financial
"The units remain subject to additional time-based vesting requirements."
Time-based vesting requirements are rules that grant an employee the right to stock, options or other equity only after they work for the company for a set period or reach specific time checkpoints, like earning a reward after paying installments. For investors this matters because it spreads out when new shares can be claimed and sold, affecting future dilution, employee retention, and the timing of potential selling pressure on the stock.
FAQ
What did KILROY REALTY CORP (KRC) President Justin William Smart report on this Form 4?
He reported equity compensation awards, not market trades. Smart received a grant of 5,429.4658 common shares and additional restricted stock units credited as dividend equivalents tied to prior awards, all at no cash purchase price.
What restricted stock unit activity did KRC disclose for Justin William Smart?
Two restricted stock unit grants were reported. Smart received 674.7137 and 711.5615 restricted stock units as credits for dividend equivalent rights linked to earlier performance unit awards, with each unit representing a contingent right to one share of common stock.
How many restricted stock units does Justin William Smart hold after these KRC transactions?
Following the reported awards, one restricted stock unit line shows 99,812.5350 units outstanding and another shows 99,137.8213 units. These derivative holdings represent contingent rights to receive common stock, subject to vesting conditions.