Form 4: Equity Residential Director Receives Restricted Units as Long-Term Compensation

Angela M. Aman, a director at Equity Residential, received 3,346 restricted units (RUs) in ERP Operating Limited Partnership as part of the company's long-term compensation plan.

Summary

• On June 20, 2024, Angela M. Aman, a director of Equity Residential, was granted 3,346 restricted units (RUs) in ERP Operating Limited Partnership.
• These RUs are part of the company's annual long-term compensation for service from the 2024 to 2025 Annual Meeting of Shareholders.
• The RUs will automatically convert into limited partnership interests (OP Units) when a specific capital account target is reached within ten years.
• OP Units can be exchanged for Equity Residential common shares on a one-for-one basis or their cash value, at the company's discretion.
• The RUs are scheduled to vest on June 20, 2025, and are subject to a holding restriction until June 20, 2026.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation practice, indicating stability and alignment of interests. It's a neutral to slightly positive event.

Positives

• The grant of restricted units aligns the director's interests with the long-term performance of the company.
• The vesting schedule and holding restriction encourage continued service and commitment to Equity Residential.

Future Outlook

The restricted units are intended to incentivize long-term service and align the director's interests with the company's performance through the 2025 Annual Meeting of Shareholders.

Industry Context

Grants of restricted stock units are a common form of executive compensation in the real estate industry, aligning management's interests with those of shareholders.

Stakeholder Impact

• The grant of restricted units aligns the director's interests with those of shareholders, potentially leading to decisions that benefit the company's long-term value.

Key Dates