January 1, 2025 · Form 4 insider transaction
Vanderelzen Sean Robert bought 17,074 shares of Lineage, Inc. at $0.00 per share, a transaction worth N/A. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 2 days after the transaction.
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 1/2 of the LTIP Units on January 1, 2026 and January 1, 2027, 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 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, 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.