[Form 4] KILROY REALTY CORP Insider Trading Activity

Rhea-AI Filing Summary

Eliott Trencher, Executive Vice President and Chief Investment Officer of Kilroy Realty Corporation (KRC), reported grants and crediting of restricted stock units and performance-unit related awards on 10/08/2025. The filing shows a non‑derivative acquisition of 255.3981 shares and crediting of restricted stock units totaling 562.1910 units (260.0444 and 302.1466), all at $0 price as dividend equivalents or award credits. After these transactions the reporting person beneficially owned 44,081.2778 common shares (direct).

The restricted stock units represent contingent rights to receive one share each and are tied to prior performance awards: one award covers a three‑year performance period ending 12/31/2025 and the other ending 12/31/2026. The newly credited units remain subject to additional time‑based vesting requirements under the Kilroy Realty 2006 Incentive Award Plan.

Positive

• Increased insider alignment via additional restricted stock units tied to performance periods ending 12/31/2025 and 12/31/2026
• Higher reported direct ownership: beneficial ownership increased to 44,081.2778 shares

Negative

• Units remain subject to time‑based vesting, so the credits are contingent until vesting conditions are satisfied
• No immediate economic purchase—transactions recorded at $0 reflect dividend equivalents or award credits, not cash investment

Insights

Compensation Analyst

Award credits reflect dividend equivalents on existing performance awards, increasing contingent share holdings.

The transaction shows crediting of restricted stock units and a non‑derivative entry at $0, consistent with dividend equivalent treatment and award grants under the 2006 Incentive Award Plan. These units convert to common shares only if vesting and any performance conditions are met.

The key dependencies are the stated 12/31/2025 and 12/31/2026 performance period end dates and the continuing time‑based vesting schedule; monitor vesting milestones through those periods.

Corporate Governance Specialist

An officer reported routine equity compensation credits and increased direct beneficial ownership to 44,081.2778 shares.

The report is procedural: it documents award credits and the reporting person's existing beneficial ownership after the transactions. The form indicates the awards were granted pursuant to the company’s incentive plan and filed by an attorney‑in‑fact.

Materiality is limited to the governance/compensation context; investors may note insider ownership levels and the remaining vesting conditions through 12/31/2026.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

Trencher Eliott

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Investment Officer

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		255.3981	A	$0	44,081.2778	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
Restricted Stock Units(2)	(3)	10/08/2025		A		260.0444		(4)	(4)	Common Stock	260.0444	$0	43,371.7642	D
Restricted Stock Units(2)	(3)	10/08/2025		A		302.1466		(5)	(5)	Common Stock	302.1466	$0	43,673.9108	D

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.

2. 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.

3. Each restricted stock unit represents a contingent right to receive one share of Issuer common stock.

4. The reporting person was awarded performance units in 2023 covering a three-year performance period ending December 31, 2025. The reporting person previously reported the minimum number of units subject to the award eligible to vest based on 2023 and 2024 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.

5. 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 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.

Remarks:

	/s/ Heidi R. Roth, as attorney-in-fact for Eliott Trencher	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 KRC insider Eliott Trencher report on Form 4?

The filing reports acquisition credits of 255.3981 common shares and crediting of 260.0444 and 302.1466 restricted stock units on 10/08/2025, increasing direct beneficial ownership to 44,081.2778 shares.

Are the credited restricted stock units vested immediately?

No. The restricted stock units are contingent and remain subject to additional time‑based vesting requirements and applicable performance conditions.

What performance periods are tied to these awards?

One award covers a three‑year performance period ending 12/31/2025 and the other covers a three‑year period ending 12/31/2026.

Were any cash purchases reported in the Form 4?

No. The reported acquisitions and credits were recorded at $0, reflecting dividend equivalents or award credits rather than cash purchases.

Under which plan were the awards granted?

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

Who signed the Form 4 filing?

The form was signed on behalf of Eliott Trencher by Heidi R. Roth as attorney‑in‑fact on 10/10/2025.