KRC Director Stevenson Adds 477.8549 RSUs, Ownership Now 37,122.2483

Rhea-AI Filing Summary

Kilroy Realty Corp director Gary R. Stevenson received a grant of 477.8549 restricted stock units that vest as dividend equivalent rights tied to previously reported restricted stock unit awards. The transaction is recorded as an acquisition on 10/08/2025 with a reported price of $0, reflecting that these are dividend-equivalent RSUs rather than a cash purchase. After this grant, Mr. Stevenson is reported to beneficially own 37,122.2483 shares of common stock, held directly. The filing is signed on 10/10/2025 by an attorney-in-fact and cites the Kilroy Realty 2006 Incentive Award Plan as the grant vehicle.

Positive

• Grant increases director's stake to 37,122.2483 shares, demonstrating retention alignment with shareholders
• Award recorded under the Kilroy Realty 2006 Incentive Award Plan, indicating use of an established equity program

Negative

• Grant priced at $0, indicating dividend-equivalent issuance which may dilute existing shareholders when converted
• Vesting details are not disclosed in this filing, so timing and conditions for conversion into freely tradable shares are unclear

Insights

Corporate Governance Analyst

Director received dividend-equivalent RSUs; ownership modestly increased.

The filing documents a grant of 477.8549 restricted stock units classified as dividend-equivalent rights tied to previously issued RSUs under the Kilroy Realty 2006 Incentive Award Plan. These awards were reported as acquired on 10/08/2025 at a reported price of $0, which is consistent with equity compensation that converts dividend equivalents into additional units rather than a cash transaction.

The main dependency is the underlying award terms and vesting schedule 10/08/2025.

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
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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^*

Stevenson Gary R.

(Last) (First) (Middle)

C/O KILROY REALTY CORPORATION

12200 W. OLYMPIC BLVD., SUITE 200

(Street)

LOS ANGELES CA 90064

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KILROY REALTY CORP [ NYSE: KRC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/08/2025

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 stock, par value $0.01 per share(1)	10/08/2025		A		477.8549	A	$0	37,122.2483	D

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. 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.

Remarks:

	/s/ Heidi R. Roth, as attorney-in-fact for Gary R. Stevenson	10/10/2025
	** 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 Gary R. Stevenson report on the Form 4 for KRC?

He reported a grant of 477.8549 restricted stock units as dividend-equivalent rights, acquired on 10/08/2025, increasing his beneficial ownership to 37,122.2483 shares.

Was any cash paid for the awarded RSUs in the KRC Form 4?

No. The filing shows a reported price of $0, reflecting issuance as dividend-equivalent RSUs rather than a cash purchase.

Under which plan were the RSUs granted?

The awards were granted pursuant to the Kilroy Realty 2006 Incentive Award Plan and the terms of the applicable award agreement.

When was the transaction and who signed the Form 4?

The transaction date is 10/08/2025, and the Form 4 is signed by Heidi R. Roth as attorney-in-fact for Gary R. Stevenson on 10/10/2025.

How many shares does Mr. Stevenson beneficially own after the grant?

He beneficially owns 37,122.2483 shares following the reported transaction.