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

Rhea-AI Filing Summary

GILYARD REGINALD HAROLD reported acquisition or exercise transactions in this Form 4 filing.

REALTY INCOME CORP director Reginald Harold Gilyard received a stock grant through an incentive plan. On May 21, 2026, he was awarded 3,214 shares of Common Stock at no cost as compensation, which vest on the first anniversary of the grant date. After this grant, he holds 10,847 shares directly and 23,999 shares indirectly through The Gilyard Family Trust under a 2015 declaration of trust.

Insights

Equity compensation analyst

Routine equity grant to director as part of incentive compensation.

Director Reginald Harold Gilyard received 3,214 shares of Realty Income Common Stock via an incentive plan on May 21, 2026. The grant price is shown as $0.0000 per share, indicating a compensation award rather than an open-market purchase.

The shares vest on the first anniversary of the grant date, so the award is subject to a one-year service-based condition. Following this grant, Gilyard holds 10,847 direct shares and 23,999 indirect shares through The Gilyard Family Trust, suggesting this is a modest, routine update to his equity stake.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider GILYARD REGINALD HAROLD

Role null

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

Holdings After Transaction: Common Stock — 10,847 shares (Direct, null); Common Stock — 23,999 shares (Indirect, By Trust)

Footnotes (1)

1. Shares granted through an incentive plan; no consideration was paid. Shares vest on first anniversary of the grant date. By The Gilyard Family Trust under Declaration of Trust dated March 27, 2015.

Key Figures

Shares granted: 3,214 shares Grant price: $0.0000 per share Direct holdings after grant: 10,847 shares +2 more

5 metrics

Shares granted 3,214 shares Common Stock incentive grant on May 21, 2026

Grant price $0.0000 per share Equity award consideration under incentive plan

Direct holdings after grant 10,847 shares Common Stock directly owned following transaction

Indirect trust holdings 23,999 shares Held by The Gilyard Family Trust as of transaction date

Vesting term One year Shares vest on first anniversary of grant date

Key Terms

incentive plan, vest, Family Trust, 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.

Family Trust financial

"By The Gilyard Family Trust under Declaration of Trust dated March 27, 2015."

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^*

GILYARD REGINALD HAROLD

(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)	10,847	D
Common Stock								23,999	I	By Trust(2)

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.

2. By The Gilyard Family Trust under Declaration of Trust dated March 27, 2015.

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 Reginald Harold Gilyard receive in this Realty Income (O) Form 4?

Reginald Harold Gilyard received an equity award of 3,214 shares of Realty Income Common Stock. The shares were granted through an incentive plan at no cost and represent compensation rather than an open-market stock purchase.

When do the newly granted Realty Income (O) shares to Gilyard vest?

The 3,214 incentive-plan shares granted to Reginald Harold Gilyard vest on the first anniversary of the grant date. This one-year vesting schedule ties the award to continued service over that period before the shares fully vest.

How many Realty Income (O) shares does Gilyard own directly after this filing?

After the 3,214-share grant, Reginald Harold Gilyard directly owns 10,847 shares of Realty Income Common Stock. This figure reflects his direct holdings only and excludes additional shares held indirectly through a family trust structure.

What are Gilyard’s indirect Realty Income (O) holdings reported in this Form 4?

The filing shows 23,999 shares of Realty Income Common Stock held indirectly for Gilyard by The Gilyard Family Trust. This trust was established under a Declaration of Trust dated March 27, 2015, and represents a separate block of beneficial ownership.

Was cash paid for the 3,214 Realty Income (O) shares granted to Gilyard?

No cash was paid for these 3,214 shares. The footnotes state they were granted through an incentive plan and that no consideration was paid, meaning the shares are part of Gilyard’s non-cash director compensation package.