Lineage (LINE) Form 4: Director receives 4,490 RSUs, no shares sold

Rhea-AI Filing Summary

Lineage, Inc. (LINE) filed a Form 4 that records a routine equity-compensation event for board member Michael John Turner. On 18 June 2025 the director was awarded 4,490 time-based restricted stock units (RSUs) at a $0 acquisition price. Each unit converts one-for-one into common stock and vests fully on the earlier of 18 June 2026 or the company’s next annual shareholder meeting, conditional on Mr. Turner’s continued service. Following the grant he now beneficially owns 7,122 common shares held directly. No insider sales, cash purchases, or derivative transactions were reported, and the filing contains no indications of changes in control or governance concerns. Overall, the disclosure appears to be a standard component of Lineage’s director compensation program.

Insights

Securities Analyst

TL;DR: Routine RSU grant; negligible valuation impact.

The 4,490-share RSU award adds only a modest stake relative to Lineage’s expected float, signalling neither bullish nor bearish sentiment. With no insider selling and a zero-cost basis, the filing is best viewed as standard board remuneration that marginally tightens share alignment but carries no material effect on earnings, liquidity, or near-term stock performance.

Corporate Governance Expert

TL;DR: Follows typical board-pay practice; governance neutral.

The RSUs vest after one year or at the next AGM—an industry-standard cadence aimed at retention and alignment. No 10b5-1 plan is flagged, yet the award size and terms appear proportionate, posing no dilution or pay-for-performance red flags. Consequently, the event is considered normal course and not impactful to governance risk assessments.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Turner Michael John

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	4,490	$0.00	--

Holdings After Transaction: Common Stock — 7,122 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
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^*

Turner Michael John

(Last) (First) (Middle)

C/O LINEAGE, INC.

46500 HUMBOLDT DRIVE

(Street)

NOVI MI 48377

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Lineage, Inc. [ LINE ]

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)
06/18/2025

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(1)	06/18/2025		A		4,490	A	$0(1)	7,122	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. Represents the grant of time-based restricted stock units ("RSUs"), which are contingent rights to receive shares of common stock on a one-for-one basis and which vest in full on the earlier to occur of (i) June 18, 2026, and (ii) the date of the next annual meeting of the Company's stockholders following June 18, 2025, subject to continued service with the Issuer through such applicable date.

Remarks:

	/s/ Brian Golper, as Attorney-in-Fact for Michael John Turner	06/20/2025
	** 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.