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DIGITAL REALTY TRUST, INC.

(DLR)
  Report
Delayed Nyse  -  04:00 2022-09-23 pm EDT
103.34 USD   -3.79%
09/23Barclays Downgrades Digital Realty Trust to Underweight From Equalweight, Adjusts Price Target to $91 From $126
MT
09/22Digital Realty Trust Prices $550 Million Senior Notes Offering
MT
09/22Digital Realty Announces Pricing of Senior Notes Offering
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DIGITAL REALTY TRUST, INC. : Change in Directors or Principal Officers (form 8-K)

07/29/2022 | 04:13pm EDT

Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

EVP, Strategic Advisor

Effective as of July 26, 2022, Executive Vice President, Strategic Advisor, David C. Ruberg's employment with Digital Realty Trust, Inc. (the "REIT") ended by mutual agreement in connection with the expiration of Mr. Ruberg's Amended Management Agreement, dated as of January 4, 2021, with the REIT, DLR LLC (together with the REIT, the "Company") and certain other parties (the "AMA"). Following the expiration of the AMA, Mr. Ruberg's employment had been temporarily extended by mutual agreement of the Company and Mr. Ruberg and ended on July 26, 2022.

In connection with the foregoing, on July 25, 2022, the Compensation Committee of the Company's Board of Directors (the "Committee") approved, and on July 26, 2022, the Company and Mr. Ruberg entered into, a Transition and Consulting Agreement (the "Transition Agreement"), pursuant to which Mr. Ruberg will provide up to 10 hours of consulting services per week to the Company. The initial consulting period under the Transition Agreement will continue until June 30, 2023 and thereafter automatically will be extended for successive one-year periods unless either the Company or Mr. Ruberg elects to not extend the consulting period by providing at least 60 days advance written notice. Mr. Ruberg's consulting relationship may not be terminated by either party during the consulting period, other than by the Company for "cause" (as defined in the Transition Agreement), by mutual agreement of the Company and Mr. Ruberg, by Mr. Ruberg for any reason, or by reason of a non-extension of the consulting period as described above.

Under the Transition Agreement, Mr. Ruberg's outstanding Company equity-based awards will remain outstanding and eligible to vest during the consulting period in accordance with the applicable award agreements. In addition, the Transition Agreement provides that Mr. Ruberg will execute and deliver a general release of claims in favor of the Company. Mr. Ruberg is also subject to certain restrictive covenants under the Transition Agreement, including confidentiality and cooperation covenants, and non-competition and non-solicitation restrictions during the consulting period.

The foregoing description of the Transition Agreement is qualified in its entirety by the full text of the Transition Agreement, which will be filed as an exhibit to the Company's and Digital Realty Trust L.P.'s combined Quarterly Report on Form 10-Q for the quarter ending June 30, 2022.

© Edgar Online, source Glimpses

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Analyst Recommendations on DIGITAL REALTY TRUST, INC.
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Financials (USD)
Sales 2022 4 691 M - -
Net income 2022 315 M - -
Net Debt 2022 15 555 M - -
P/E ratio 2022 95,9x
Yield 2022 4,71%
Capitalization 29 701 M 29 701 M -
EV / Sales 2022 9,65x
EV / Sales 2023 8,96x
Nbr of Employees 3 030
Free-Float 97,2%
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 103,34 $
Average target price 151,00 $
Spread / Average Target 46,1%
EPS Revisions
Managers and Directors
Arthur William Stein Secretary, Chief Financial & Investment Officer
Andrew P. Power President & Chief Financial Officer
Laurence A. Chapman Chairman
Christopher Sharp Chief Technology Officer
Ed Diver Chief Information Officer
Sector and Competitors
1st jan.Capi. (M$)
DIGITAL REALTY TRUST, INC.-39.27%29 701