UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
DIGITAL REALTY TRUST, L.P.
(Exact name of registrant as specified in its charter)
Maryland | 000-54023 | 20-2402955 |
(State or other jurisdiction | (Commission | (IRS Employer |
(Address of principal executive offices) | (Zip Code) |
(
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading | Name of each exchange on |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Digital Realty Trust, Inc.: | Emerging growth company ☐ | |
Digital Realty Trust, L.P.: | Emerging growth company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Digital Realty Trust, Inc.: | ☐ |
Digital Realty Trust, L.P.: | ☐ |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 1, 2022, the Compensation Committee (the “Committee”) of the Board of Directors of Digital Realty Trust, Inc. (the “REIT”) approved amendments (together, the “Amendments”) to (i) the employment agreement, dated June 18, 2019, with Andrew P. Power, our President and Chief Financial Officer, and (ii) the employment agreement, dated January 1, 2019, with Gregory S. Wright, our Chief Investment Officer (together, the “Employment Agreements”), in each case, entered into by the REIT, Digital Realty Trust, L.P. and DLR LLC (together, the “Company”) with each of Mr. Power and Mr. Wright (together, the “executives”) on September 8, 2022.
Pursuant to each executive’s Amendment, subject to earlier termination as provided in the applicable Employment Agreement, the term of the applicable executive’s employment with the Company will automatically be extended each year for successive one-year periods until either the Company or the executive provides 60 days written notice of non-extension prior to the expiration of the then-current term.
Mr. Power’s Amendment also amends his Employment Agreement to reflect (i) Mr. Power’s current title as President and Chief Financial Officer of the Company and (ii) his current annual base salary of $650,000.
Mr. Wright’s Amendment also amends his Employment Agreement to reflect (i) Mr. Wright’s principal place of employment in the Company’s offices in Austin, Texas, (ii) his current annual base salary of $625,000 per year, and (iii) his current target and maximum annual bonus, which are equal to 125% and 250%, respectively, of his base salary for the applicable year.
The foregoing description of the Amendments is qualified in its entirety by the full text of the Amendments, which will be filed as exhibits to the REIT’s and Digital Realty Trust, L.P.’s combined Quarterly Report on Form 10-Q for the quarter ending September 30, 2022.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.
Date: September 8, 2022
Digital Realty Trust, Inc. | ||
By: | /s/ JEANNIE LEE | |
Jeannie Lee | ||
Executive Vice President, | ||
Digital Realty Trust, L.P. | ||
By: | Digital Realty Trust, Inc. | |
Its general partner | ||
By: | /s/ JEANNIE LEE | |
Jeannie Lee | ||
Executive Vice President, |