Lineage (LINE) officer awarded 32,947 LTIP Units with 2027 vesting

Rhea-AI Filing Summary

Lineage, Inc. reported that officer Thattai Sudarsan V received a grant of 32,947 LTIP Units of partnership interest in Lineage OP, LP. These time-based LTIP Units vest in full on April 1, 2027, as long as he remains in service with the company through that date.

Once vested and after certain capital account conditions are met, each LTIP Unit can be converted into one Partnership Common Unit, and those units may later be redeemed for cash or, at the company’s election, one share of common stock per unit after at least 18 months from grant.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Thattai Sudarsan V

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	32,947	$0.00	--

Holdings After Transaction: LTIP Units — 32,947 shares (Direct)

Footnotes (1)

1. 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 full on April 1, 2027, subject to continued service with the Issuer through such date. 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 1) 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: 32,947 units Transaction price per LTIP Unit: $0.0000 per unit LTIP Units after transaction: 32,947 units +2 more

5 metrics

LTIP Units granted 32,947 units Time-based LTIP Units granted on April 1, 2026

Transaction price per LTIP Unit $0.0000 per unit Grant price shown in Form 4

LTIP Units after transaction 32,947 units Total LTIP Units owned following grant

Vesting date April 1, 2027 LTIP Units vest in full on this date

Redemption waiting period 18 months Minimum time from LTIP grant before redemption rights

Key Terms

LTIP Units, Partnership Common Units, capital account balances, redeem, +1 more

5 terms

LTIP Units financial

"Represents the grant of time-based units of partnership interest in Lineage OP, LP designated as LTIP Units"

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"

capital account balances financial

"Subject to achieving certain capital account balances, each vested LTIP Unit may be converted"

redeem financial

"have the right to redeem their Partnership Common Units in exchange for cash or, at the election of the Issuer, shares of common stock"

To redeem means to exchange a financial instrument—like a bond, preferred share, voucher, or convertible security—for cash or its agreed value when the issuer or holder triggers repayment. Investors care because redemption changes who holds the investment, when they get paid, and how much cash a company must use, affecting yield, ownership stakes and short‑term liquidity much like cashing a coupon or getting a loan repaid.

time-based units financial

"Represents the grant of time-based units of partnership interest in Lineage OP, LP"

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^*

Thattai Sudarsan V

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price

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
LTIP Units	(1)(2)	04/01/2026		A		32,947		(1)(2)	(1)(2)	Common Stock	32,947	$0(1)(2)	32,947	D

Explanation of Responses:

1. 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 full on April 1, 2027, subject to continued service with the Issuer through such date. 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"),

2. (Continued from footnote 1) 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.

Remarks:

Chief Information Officer and Chief Transformation Officer

	/s/ Brian Golper, as Attorney-in-Fact for Sudarsan V Thattai	04/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Lineage (LINE) report for Thattai Sudarsan V?

Lineage reported that officer Thattai Sudarsan V received a grant of 32,947 LTIP Units. These are time-based partnership units that vest fully on April 1, 2027, assuming continued service with the company through that date.

What are LTIP Units granted to the Lineage (LINE) officer?

The LTIP Units are time-based units of partnership interest in Lineage OP, LP. They vest on April 1, 2027 and, once vested and conditions are met, can convert into Partnership Common Units, which are further redeemable for cash or common stock.

When do the 32,947 LTIP Units at Lineage (LINE) vest?

The 32,947 LTIP Units granted to the Lineage officer vest in full on April 1, 2027. Vesting is conditioned on the recipient’s continued service with the company through that date, making this a long-term retention-focused compensation award.

Can the Lineage (LINE) LTIP Units be converted into common stock?

Once vested and after achieving required capital account balances, each LTIP Unit may convert into one Partnership Common Unit. After at least 18 months from grant, those Partnership Common Units can be redeemed for cash or, at Lineage’s election, one share of common stock each.

What price was paid for the 32,947 LTIP Units at Lineage (LINE)?

The Form 4 shows the 32,947 LTIP Units were granted at a transaction price of $0.0000 per unit. This reflects a compensation award rather than an open-market purchase, and the officer’s total LTIP holdings after the grant equal 32,947 units.

Do the Lineage (LINE) LTIP Units or Partnership Common Units expire?

According to the disclosure, LTIP Units and the Partnership Common Units they can convert into do not have expiration dates. The key timing elements are the April 1, 2027 vesting date and the requirement that at least 18 months pass from grant before redemption.