Terreno Realty Form 4: President gets 28,840 restricted shares, no sales

Rhea-AI Filing Summary

Terreno Realty Corp. (TRNO) – Form 4 insider filing

President and Director Michael A. Coke was granted 28,840 shares of restricted common stock on 08/05/2025 at $0 cost as equity compensation. The award will fully vest on 08/01/2030, incentivising long-term performance.

After the grant, Coke’s direct holdings rose to 422,415 shares. He also retains 174,940 shares indirectly through a Rabbi Trust, giving a total reported beneficial ownership of 597,355 shares. No sales, options or other derivative transactions were disclosed.

The transaction represents routine executive compensation rather than an open-market purchase or sale, signalling continued alignment with shareholder interests while adding a modest number of new shares to the outstanding count.

Positive

• Long-term vesting schedule aligns the President’s incentives with shareholders through 2030.
• No insider selling was reported, avoiding negative sentiment that often follows disposals.

Negative

• Share dilution: 28,840 new shares increase outstanding count, albeit marginally.
• Additional compensation expense will flow through future periods as the award amortizes.

Insights

Financial Analyst

TL;DR: Routine equity award; marginal dilution, signals executive retention, little near-term market impact.

The 28,840-share grant enlarges Michael Coke’s stake to roughly 597k shares, but vests over five years, spreading dilution. Because the shares were issued at no cost under the company’s equity plan, cash flow and earnings are unaffected today, though future non-cash compensation expense will rise modestly. No insider selling occurred, so there is no bearish signal. Overall, the filing is neutral to mildly positive for governance—executive and shareholder interests remain aligned—but immaterial to valuation in the short term.

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^*

COKE MICHAEL A

(Last) (First) (Middle)

10500 NE 8TH STREET, SUITE 1910

(Street)

BELLEVUE WA 98004

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Terreno Realty Corp [ TRNO ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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, $0.01 par value per share	08/05/2025		A		28,840(1)	A	$0	422,415	D
Common Stock, $0.01 par value per share								174,940	I	Rabbi Trust

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. Represents shares of restricted stock granted to the Reporting Person that will fully vest on August 1, 2030

Remarks:

	/S/ Michael A. Coke	08/07/2025
	** 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.

FAQ

How many Terreno Realty (TRNO) shares did Michael Coke acquire?

He received 28,840 restricted shares on 08/05/2025.

What price was paid for the restricted stock grant?

The shares were issued at $0 as part of equity compensation.

When will the restricted shares vest?

All shares will fully vest on 08/01/2030.

What is Michael Coke’s total ownership after the transaction?

He directly owns 422,415 shares and indirectly holds 174,940 shares, totaling 597,355 shares.

Does this filing involve an open-market purchase or sale?

No, it reflects an equity award; no open-market transactions were reported.