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Lineage (NYSE: LINE) CHRO receives new RSU and LTIP equity grants

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Lineage, Inc. Chief Human Resources Officer Burlage Kelly received new equity awards and had shares withheld for taxes. On April 1, 2026, Kelly was granted 1,220 time-based restricted stock units, each representing one share of common stock, vesting in three equal annual installments on April 1 of 2027, 2028, and 2029, subject to continued service. The company also granted 1,221 LTIP Units in Lineage OP, LP, which vest on the same schedule and may later be converted into Partnership Common Units and ultimately redeemed for cash or, at the company’s election, common shares on a one-for-one basis after at least 18 months. To satisfy tax withholding obligations from vesting restricted stock units, 1,516 shares of common stock were withheld at $32.76 per share. Following these transactions, Kelly directly holds 12,174.16 shares of Lineage common stock.

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Insider Burlage Kelly
Role Chief Human Resources Officer
Type Security Shares Price Value
Grant/Award LTIP Units 1,221 $0.00 --
Grant/Award Common Stock 1,220 $0.00 --
Tax Withholding Common Stock 1,516 $32.76 $50K
Holdings After Transaction: LTIP Units — 1,221 shares (Direct); Common Stock — 13,690.16 shares (Direct)
Footnotes (1)
  1. Represents the grant of time-based restricted stock units ("RSUs"), which are contingent rights to receive shares of common stock ("Shares") on a one-for-one basis and which vest in equal annual installments as to 1/3 of the RSUs on each of April 1, 2027, 2028, 2029, subject to continued service with the Issuer through such dates. Represents shares withheld by the Issuer in satisfaction of tax withholding obligations resulting from the vesting of restricted stock units. 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"), (Continued from footnote 3) 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, 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.
RSU grant 1,220 shares Time-based restricted stock units granted on April 1, 2026
LTIP Units grant 1,221 LTIP Units Time-based LTIP Units in Lineage OP, LP granted April 1, 2026
Tax withholding shares 1,516 shares Common shares withheld to satisfy tax obligations from RSU vesting
Withholding price $32.76 per share Price used for 1,516 shares withheld for taxes
Post-transaction holdings 12,174.16 shares Lineage common stock held directly after April 1, 2026 transactions
restricted stock units financial
"Represents the grant of time-based restricted stock units ("RSUs"), which are contingent 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.
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.
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
"Represents shares withheld by the Issuer in satisfaction of tax withholding obligations resulting from the vesting"
Lineage OP, LP financial
"units of partnership interest in Lineage OP, LP (the "Operating Partnership")"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Burlage Kelly
(Last)(First)(Middle)
C/O LINEAGE, INC.
46500 HUMBOLDT DRIVE
(Street)
NOVI MICHIGAN 48377
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Lineage, Inc. [ LINE ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Human Resources Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock(1)04/01/2026A1,220A$0(1)13,690.16D
Common Stock04/01/2026F(2)1,516D$32.7612,174.16D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
LTIP Units(3)(4)04/01/2026A1,221 (3)(4) (3)(4)Common Stock1,221$0(3)(4)1,221D
Explanation of Responses:
1. Represents the grant of time-based restricted stock units ("RSUs"), which are contingent rights to receive shares of common stock ("Shares") on a one-for-one basis and which vest in equal annual installments as to 1/3 of the RSUs on each of April 1, 2027, 2028, 2029, subject to continued service with the Issuer through such dates.
2. Represents shares withheld by the Issuer in satisfaction of tax withholding obligations resulting from the vesting of restricted stock units.
3. 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"),
4. (Continued from footnote 3) 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, 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.
Remarks:
/s/ Brian Golper, as Attorney-in-Fact for Kelly Burlage04/03/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did Lineage (LINE) grant to CHRO Burlage Kelly?

Lineage granted Burlage Kelly 1,220 time-based restricted stock units and 1,221 LTIP Units. Each RSU and LTIP Unit represents a potential one-for-one interest in common shares, subject to vesting, service conditions, and, for LTIP Units, partnership capital account requirements and conversion mechanics.

How do Burlage Kelly’s new RSUs at Lineage (LINE) vest over time?

Kelly’s 1,220 restricted stock units vest in three equal annual installments. One-third vests on April 1, 2027, another third on April 1, 2028, and the final third on April 1, 2029, provided Kelly continues serving at Lineage through each respective vesting date.

What happened with the 1,516 Lineage (LINE) shares shown as a disposition?

The 1,516 shares were withheld by Lineage to cover tax withholding obligations arising from restricted stock unit vesting. This “F” code transaction is a tax-withholding disposition, not an open-market sale, and reflects shares delivered to the issuer rather than sold into the market.

How many Lineage (LINE) common shares does Burlage Kelly hold after these transactions?

After the April 1, 2026 transactions, Burlage Kelly directly holds 12,174.16 shares of Lineage common stock. This figure reflects the new RSU-related share grant and the 1,516 shares withheld by the company for tax obligations associated with the vesting of prior restricted stock units.

How can Burlage Kelly’s LTIP Units at Lineage eventually convert into common stock?

Each vested LTIP Unit may be converted on a one-for-one basis into Partnership Common Units after certain capital account conditions. At least 18 months after grant, those Partnership Common Units can be redeemed for cash or, at Lineage’s election, exchanged for common shares one-for-one, subject to adjustments.