Lineage exec granted 28,799 LTIP Units
Lineage, Inc. executive Brian Jeffrey McGowan received a grant of 28,799 LTIP Units tied to the company’s Operating Partnership.
Rhea-AI Filing Summary
Lineage, Inc. executive Brian Jeffrey McGowan received a grant of 28,799 LTIP Units tied to the company’s Operating Partnership. These time-based units vest in three equal annual installments on April 1, 2027, 2028, and 2029, contingent on continued service.
Each vested LTIP Unit can convert one-for-one into Partnership Common Units and, after at least 18 months from grant, those units may be redeemed for cash or, at the issuer’s election, shares of common stock. Separately, 676 shares of common stock were withheld at $32.76 per share to satisfy tax obligations from vesting restricted stock units, leaving McGowan with 23,723 common shares held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
McGowan Brian Jeffrey
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 28,799 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 676 | $32.76 | $22K |
Holdings After Transaction:
LTIP Units — 28,799 contracts (Direct);
Common Stock — 23,723 shares (Direct)
Footnotes (3)
- F1. Represents shares withheld by the Issuer in satisfaction of tax withholding obligations resulting from the vesting of restricted stock units.
- F2. Represents the grant of time-based units of partnership interest in Lineage OP, LP (the "Operating Partnership") designated as LTIP Units ("LTIP Units") under the Agreement of Limited Partnership of the Operating Partnership dated as of July 24, 2024 (the "Partnership Agreement"). The LTIP Units vest in equal annual installment as to 1/3 of the LTIP Units on April 1, 2027, 2028 and 2029, subject to continued service with the Issuer through such dates. Subject to achieving certain capital account balances, each vested LTIP Unit may be converted, at the election of the holder, on a one-for-one basis to Partnership Common Units ("Partnership Common Units"),
- F3. (Continued from footnote 2) which are units of partnership interest in the Operating Partnership, as designated under the Partnership Agreement. Holders of Partnership Common Units acquired from the conversion of LTIP Units have the right to redeem their Partnership Common Units in exchange for cash or, at the election of the Issuer, shares of common stock, on a one-for-one basis (subject to certain adjustments), provided at least 18 months have passed since the LTIP Units were granted. LTIP Units and Partnership Common Units do not have expiration dates.
Key Figures
LTIP Units granted: 28,799 units
LTIP vesting schedule: 1/3 each in 2027, 2028, 2029
Tax withholding shares: 676 shares
+3 more
6 metrics
LTIP Units granted
28,799 units
Time-based LTIP Units granted on April 1, 2026
LTIP vesting schedule
1/3 each in 2027, 2028, 2029
Equal annual vesting on April 1 of each year
Tax withholding shares
676 shares
Common stock withheld to satisfy tax obligations
Tax withholding price
$32.76 per share
Value used for 676 shares withheld for taxes
Common shares after transaction
23,723 shares
McGowan’s direct Lineage common stock holdings
Redemption waiting period
18 months
Minimum time from LTIP grant before redemption right
Key Terms
LTIP Units, restricted stock units, Partnership Common Units, tax withholding obligations
4 terms
LTIP Units financial
"designated as LTIP Units ("LTIP Units") under the Agreement of Limited Partnership"
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
restricted stock units financial
"tax withholding obligations resulting from the vesting of restricted stock units."
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.
Partnership Common Units financial
"each vested LTIP Unit may be converted, at the election of the holder, on a one-for-one basis to Partnership Common Units"
tax withholding obligations financial
"shares withheld by the Issuer in satisfaction of tax withholding obligations resulting from the vesting"
FAQ
What did Brian Jeffrey McGowan report in this Lineage (LINE) Form 4?
Brian Jeffrey McGowan reported receiving 28,799 LTIP Units as a time-based equity award and a separate withholding of 676 common shares for taxes. After these transactions, he directly holds 23,723 shares of Lineage, Inc. common stock.
How do McGowan’s 28,799 LTIP Units in Lineage (LINE) vest?
The 28,799 LTIP Units vest in three equal annual installments, with one-third vesting on April 1, 2027, one-third on April 1, 2028, and the final third on April 1, 2029, provided McGowan continues service with Lineage, Inc. through each vesting date.
Can McGowan’s Lineage (LINE) LTIP Units be converted into common stock?
Each vested LTIP Unit may first convert into one Partnership Common Unit, which can then be redeemed for cash or, at Lineage’s election, one share of common stock after at least 18 months from grant. LTIP Units and Partnership Common Units have no expiration dates.
AI-generated analysis. How Rhea-AI works. Not financial advice.
