8-KLeadership Changes

DIGITAL REALTY TRUST, INC. 8-K Report, Executive Changes (Jan 7, 2020)

Filed January 7, 2020For Securities:DLRDLR-PJDLR-PKDLR-PL

Summary

Digital Realty Trust, Inc. (DLR) announced the appointment of two new independent directors to its Board of Directors, Alexis Black Bjorlin and VeraLinn "Dash" Jamieson. These appointments are effective January 2, 2020, and are intended to enhance the board's expertise, particularly in technology and data management. Dr. Black Bjorlin brings extensive experience from the technology sector, including leadership roles at Broadcom and Intel, with a focus on optical systems and data centers. Lt. Gen. Jamieson offers significant expertise in data management, cloud technology, artificial intelligence, and cybersecurity from her distinguished career in the U.S. Air Force. These additions are expected to strengthen the board's oversight and strategic guidance, particularly relevant for a data center REIT like Digital Realty.

Key Highlights

  • 1Appointment of two new independent directors: Alexis Black Bjorlin and VeraLinn "Dash" Jamieson.
  • 2Dr. Black Bjorlin brings deep technology expertise from roles at Broadcom and Intel, relevant to Digital Realty's operations.
  • 3Lt. Gen. Jamieson contributes significant experience in data management, cloud technology, and cyber operations from her U.S. Air Force career.
  • 4New directors will receive equity awards under the 2014 Incentive Award Plan, vesting over approximately one year, aligning their interests with stockholders.
  • 5Each new director will receive an annual cash retainer of $85,000, with the option to receive equity in lieu of cash.
  • 6The appointments are intended to bolster the board's strategic oversight and industry-specific knowledge.
  • 7Standard director indemnification agreements are expected to be entered into with the new directors.

Frequently Asked Questions

The new directors appointed are Alexis Black Bjorlin and VeraLinn "Dash" Jamieson. They were elected as independent directors and will serve until the 2020 Annual Meeting of Stockholders.

Dr. Alexis Black Bjorlin brings extensive high technology management experience from companies like Broadcom and Intel, with a focus on optical systems and data centers. Lt. Gen. VeraLinn "Dash" Jamieson offers significant experience in data management, cloud technology, artificial intelligence, and cyber operations from her career in the U.S. Air Force.

The new directors will receive an annual cash retainer of $85,000, prorated for any partial year of service. They also have the option to elect to receive all or a portion of their cash retainers in the form of fully-vested profits interest units of Digital Realty's operating partnership. Additionally, they received an initial pro rata equity award of profits interest units and are eligible for future annual equity awards valued at $165,000.

The appointment of these two directors, with their strong backgrounds in technology and data management, is expected to enhance the board's strategic guidance and oversight capabilities. Their expertise is highly relevant to Digital Realty's business as a data center REIT, potentially strengthening the company's position in a rapidly evolving technological landscape.