Form 4: Kilroy Realty Executive Heidi Roth Reports Changes in Beneficial Ownership

Heidi Roth, Executive Vice President and Chief Administrative Officer of Kilroy Realty, reports transactions involving common stock and restricted stock units.

Summary

• On January 8, 2025, Heidi Roth acquired 679.3826 shares of common stock related to dividend equivalent rights.
• On January 10, 2025, Roth disposed of 2,560 shares of common stock at $37.07 per share to cover tax withholding.
• Roth also acquired 151.7828 and 230.9852 restricted stock units on January 8, 2025, related to dividend equivalent rights from performance units awarded in 2022 and 2023 respectively.
• Following these transactions, Roth beneficially owns 48,330.5393 shares of common stock and 26,659.0827 restricted stock units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions are routine and reflect ongoing compensation practices. The acquisition of restricted stock units suggests continued alignment with the company's success.

Positives

• The acquisition of restricted stock units due to dividend equivalent rights indicates continued investment in the company by the executive.

Negatives

• The disposal of 2,560 shares to cover tax withholding, while a normal occurrence, slightly reduces the executive's direct holdings in the company.

Risks

• The value of the restricted stock units is contingent on the performance of Kilroy Realty's common stock.

Future Outlook

The reporting person holds restricted stock units that will vest over time, contingent on continued service and potentially performance metrics.

Industry Context

Form 4 filings are standard disclosures for corporate insiders and provide transparency into their transactions in the company's securities.

Comparison to Industry Standards

• Comparing Roth's holdings and transactions to those of other executives in similar REITs (e.g., Boston Properties, Alexandria Real Estate Equities) would provide context on the scale of her investment in Kilroy Realty.
• Analyzing the vesting schedules and performance metrics of Roth's restricted stock units against industry benchmarks for executive compensation in the REIT sector would offer insights into the alignment of her incentives with shareholder value creation.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and ownership.

Key Dates