Form 4: Lineage Inc. Executive Jeffrey Alvarez Rivera Awarded LTIP Units

Jeffrey Alvarez Rivera, Global Chief Operations Officer of Lineage Inc., received 17,886 LTIP units on April 17, 2025, which vest annually over three years and can be converted into Partnership Common Units.

Summary

• On April 17, 2025, Jeffrey Alvarez Rivera, the Global Chief Operations Officer of Lineage Inc., was granted 17,886 LTIP Units.
• These units are part of the Lineage OP, LP Operating Partnership's agreement dated July 24, 2024.
• The LTIP Units vest in equal annual installments over three years, starting April 1, 2026, contingent upon continued service with the Issuer.
• Vested LTIP Units can be converted into Partnership Common Units on a one-for-one basis, subject to achieving certain capital account balances.
• Holders of Partnership Common Units can redeem them for cash or common stock of the Issuer after at least 18 months from the grant date.
• The reporting person's signature was provided by Brian Golper, as Attorney-in-Fact, on April 21, 2025.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive as it incentivizes management.

Positives

• The grant of LTIP units incentivizes the Global Chief Operations Officer to remain with the company.
• The vesting schedule aligns the executive's interests with the long-term performance of the company.
• The ability to convert LTIP units into common stock provides a direct link to shareholder value.

Risks

• The executive must remain employed with the company for the vesting period to receive the full benefit of the LTIP units.
• The value of the LTIP units is dependent on the performance of the Operating Partnership and the price of Lineage Inc.'s common stock.

Future Outlook

The document outlines the vesting schedule and conversion/redemption options for the LTIP units, indicating a long-term incentive plan for the executive.

Industry Context

Granting LTIP units is a common practice in the industry to align executive compensation with company performance and retain key personnel.

Comparison to Industry Standards

• LTIP grants are a standard component of executive compensation packages in publicly traded companies.
• Vesting schedules of three years are typical to ensure long-term commitment.
• The ability to convert units into common stock aligns with industry practices to incentivize executives to increase shareholder value.
• Similar companies like Americold Realty Trust and AGRO Merchants Group also utilize LTIPs as part of their executive compensation strategy.

Stakeholder Impact

• Shareholders may view the LTIP grant positively as it incentivizes the executive to improve company performance.
• Employees may see the grant as a sign of the company's commitment to its leadership team.

Key Dates

Keywords

LTIP Units, Lineage Inc., Jeffrey Alvarez Rivera, Executive Compensation, Form 4, Partnership Common Units, Vesting