Form 4: Terreno Realty Corp: Michael Coke Reports Acquisition of Shares Under Incentive Plan

Michael Coke, President of Terreno Realty Corp, reports acquiring 14,493 shares of common stock under the company's Long-Term Incentive Plan.

Summary

• Michael A. Coke, President of Terreno Realty Corp, filed a Form 4.
• The filing reports a transaction on January 8, 2025, where Mr. Coke acquired 14,493 shares of common stock.
• These shares were earned under the company's Long-Term Incentive Plan for the performance period from January 1, 2022, to December 31, 2024.
• Mr. Coke elected to defer receipt of these shares under the Terreno Realty Corporation Deferred Compensation Plan.
• Following the transaction, Mr. Coke directly owns 402,164 shares and indirectly owns 174,940 shares through a Rabbi Trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The filing indicates that an executive is receiving shares based on performance, which is generally a good sign. The decision to defer the shares is a personal financial decision and doesn't necessarily reflect negatively on the company.

Positives

• The acquisition of shares reflects positively on Mr. Coke's performance and the company's Long-Term Incentive Plan.
• Deferred compensation plans can be tax-efficient for executives.

Management Comments

• The reporting person elected to defer receipt of all such earned shares pursuant to the Terreno Realty Corporation Deferred Compensation Plan.

Industry Context

Form 4 filings are standard practice and provide transparency into insider transactions, allowing investors to track management's alignment with shareholder interests.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholder confidence due to the alignment of management's interests with shareholders.

Key Dates