Form 4: Realty Income EVP's Routine Stock Transactions

Realty Income's EVP, Chief People Officer, Shannon Kehle, reported the automatic withholding of shares for tax purposes upon the vesting of restricted stock awards on January 1, 2026.

Summary

• Shannon Kehle, EVP, Chief People Officer of Realty Income Corp, reported transactions on January 1, 2026, related to the vesting of restricted stock awards.
• These transactions involved the automatic withholding of common stock shares to cover tax obligations.
• A total of 784 shares were withheld from the vesting of 1,308 restricted shares.
• An additional 893 shares were withheld from the vesting of 1,489 restricted shares.
• The shares were valued at $56.37 per share, based on the closing price on December 31, 2025.
• Following these transactions, Kehle beneficially owns 22,755 shares of common stock, which includes 65 shares acquired through the Issuer's dividend reinvestment plan.

Sentiment

Score: 5

Explanation: Neutral. This is a routine, non-discretionary transaction related to executive compensation and tax obligations, not indicative of positive or negative company performance or executive sentiment.

Positives

• The vesting of restricted stock indicates that the executive met performance criteria, which is a positive sign for executive performance and retention.
• The executive continues to hold a significant number of shares (22,755), aligning their interests with those of shareholders.

Stakeholder Impact

• Shareholders: No direct impact on company operations or financial health. The executive's continued share ownership aligns their interests with shareholders.

Key Dates

Recommendation

This Form 4 filing details routine, non-discretionary transactions related to executive compensation (tax withholding upon restricted stock vesting). It does not provide new information regarding the company's financial performance, strategic direction, or operational health that would warrant a change in investment recommendation. The executive's continued significant share ownership aligns their interests with shareholders. Therefore, a 'Hold' recommendation is appropriate as this filing does not present new factors to alter an existing investment thesis.

Keywords

Realty Income, O, Form 4, Insider Transaction, Executive Compensation, Stock Vesting, Restricted Stock, Shannon Kehle