Robert Garechana - Feb 15, 2023 Form 4 Insider Report for EQUITY RESIDENTIAL (EQR)

Signature
/s/ Samantha Thompson, Attorney-in-fact
Stock symbol
EQR
Transactions as of
Feb 15, 2023
Transactions value $
$0
Form type
4
Date filed
2/17/2023, 05:10 PM
Previous filing
Feb 16, 2023
Next filing
Jan 23, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EQR Non-qualified Stock Option (Right to Buy) Award $0 +26.6K $0.00 26.6K Feb 15, 2023 Common Shares Of Beneficial Interest 26.6K $66.59 Direct F1
transaction EQR Restricted Units Award $0 +16K $0.00 16K Feb 15, 2023 Common Shares Of Beneficial Interest 16K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents share options scheduled to vest in approximately three equal installments on February 15, 2024, February 15, 2025 and February 15, 2026.
F2 On February 15, 2023, the reporting person received a grant of Series 2023B restricted limited partnership interests ("RUs") in ERP Operating Limited Partnership (the "OP"), the operating partnership of Equity Residential (the "Company"), in lieu of restricted shares of the Company as part of the Company's annual grant of long-term compensation. RUs are a class of partnership interest that automatically convert into an equal number of limited partnership interests of the OP ("OP Units") when the capital account related to the RUs reaches a specified target for federal income tax purposes (provided such target is reached within ten years of issuance). Subject to the vesting requirements of the grant and certain other restrictions, OP Units are exchangeable by the holder for common shares of the Company on a one-for-one basis or the cash value of such shares, at the Company's option. The RUs reflected in this report also include any OP Units into which such RUs automatically convert.
F3 The Restricted Units are scheduled to vest on February 15, 2026.