DIGITAL REALTY TRUST, INC. — Director's Dealing 2010

Feb 25, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Digital Realty Trust, Inc. (DLR)
CIK: 0001297996
Period of Report: 2010-02-23

Reporting Person: Stein A William (CFO and CIO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-02-23	Long-Term Incentive Units	$	A	14810	Acquired		Common Stock (14810)	Direct
2010-02-23	Long-Term Incentive Units	$	A	27819	Disposed		Common Stock (27819)	Direct

Footnotes

F1: Long-term incentive units are membership interests in Digital Realty Trust, L.P., a Maryland limited partnership of which the issuer is the general partner (the "Operating Partnership"). Long-term incentive units receive the same quarterly distributions as common limited partnership units of the Operating Partnership ("Common Units"). Long-term incentive units may initially not have full parity with Common Units with respect to liquidating distributions; however, upon the occurrence of specified events, long-term incentive units may achieve full parity with Common Units for all purposes, and thereafter vested long-term incentive units may be converted into an equal number of Common Units on a one-for-one basis at any time. Common Units will be redeemable for cash based on the fair market value of an equivalent number of shares of the issuer's common stock, or, at the election of the issuer, for an equal number of shares of the issuer's common stock.

F2: 1 for 1.

F3: Twenty percent (20%) of these units will vest on February 23, 2011, an additional 20% will vest on February 23, 2012, an additional 30% will vest on February 23, 2013 and the remaining 30% will vest on February 23, 2014.

F4: N/A

F5: Reflects long-term incentive units initially granted on March 2, 2009 that were subject to a performance-based vesting condition, which performance-based vesting condition was satisfied in full on February 23, 2010. These long-term incentive units are also subject to time-based vesting, pursuant to which 20% of the units will vest on March 2, 2010, 20% will vest on March 2, 2011, 30% will vest on March 2, 2012 and 30% will vest on March 2, 2013.