Director at Realty Income (NYSE: O) receives 3,214-share grant

Rhea-AI Filing Summary

LOPEZ GERARDO I reported acquisition or exercise transactions in this Form 4 filing.

REALTY INCOME CORP director Gerardo I. Lopez received an award of 3,214 shares of Common Stock as equity compensation. The shares were granted through an incentive plan with no cash consideration paid and will vest on the first anniversary of the grant date.

Following this award, Lopez directly holds 34,846 shares of Realty Income common stock. This filing reflects a compensation-related grant rather than an open-market purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider LOPEZ GERARDO I

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,214	$0.00	--

Holdings After Transaction: Common Stock — 34,846 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Equity grant: 3,214 shares Grant price: $0.00 per share Post-grant holdings: 34,846 shares

3 metrics

Equity grant 3,214 shares Common Stock awarded to director on May 21, 2026

Grant price $0.00 per share No consideration paid; incentive plan grant

Post-grant holdings 34,846 shares Common Stock directly held after the transaction

Key Terms

incentive plan, vest, grant date, grant, award, or other acquisition

4 terms

incentive plan financial

"Shares granted through an incentive plan; no consideration was paid."

vest financial

"Shares vest on first anniversary of the grant date."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

grant date financial

"Shares vest on first anniversary of the grant date."

The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.

grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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^*

LOPEZ GERARDO I

(Last) (First) (Middle)

11995 EL CAMINO REAL

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
REALTY INCOME CORP [ O ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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
Common Stock	05/21/2026		A		3,214	A	$0(1)	34,846	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. Shares granted through an incentive plan; no consideration was paid. Shares vest on first anniversary of the grant date.

Remarks:

	/s/ Bianca Martinez, by Power of Attorney	05/26/2026
	** 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 did director Gerardo I. Lopez acquire in Realty Income (O)?

Director Gerardo I. Lopez received 3,214 shares of Realty Income common stock as an equity award. The shares were granted under an incentive plan, with no cash paid, and are scheduled to vest one year after the grant date.

Is the Realty Income (O) Form 4 transaction a market buy or sell?

The Form 4 shows a grant of 3,214 shares, not a market trade. The transaction is coded as a grant or award, meaning shares were issued as compensation rather than bought or sold on the open market.

When do the granted Realty Income (O) shares vest for Gerardo I. Lopez?

The 3,214 granted shares vest on the first anniversary of the grant date. Until vesting, the award is subject to the plan’s conditions, after which the shares become fully owned if those conditions are satisfied.

How many Realty Income (O) shares does Gerardo I. Lopez hold after this grant?

After receiving the 3,214-share grant, Gerardo I. Lopez directly holds 34,846 shares of Realty Income common stock. This total reflects his position immediately following the reported compensation-related award.

Did Gerardo I. Lopez pay cash for the new Realty Income (O) shares?

No cash was paid for the 3,214 new shares. The footnote explains that the shares were granted through an incentive plan, meaning they were issued as part of his director compensation instead of being purchased.