DIGITAL REALTY TRUST, INC. — Director's Dealing 2011

Nov 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Digital Realty Trust, Inc. (DLR)
CIK: 0001297996
Period of Report: 2011-11-14

Reporting Person: JACOBS ELLEN A (Sr. VP, Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-14	Common Stock	M	2500	—	Acquired	2500	Direct
2011-11-14	Common Stock	S	2500	$65.00	Disposed	0	Direct
2011-11-14	Common Stock	M	1801	$41.73	Acquired	1801	Direct
2011-11-14	Common Stock	S	1801	$65.00	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-14	Class C Profits Interest Units	$	M	2500	Disposed		Common Stock (2500)	Direct
2011-11-14	Employee Stock Option (right to buy)	$41.73	M	1801	Disposed	2017-05-02	Common Stock (1801)	Direct

Footnotes

F1: In accordance with the terms of a Trading Plan (SEC Rule 10b5-1 Securities Exchange Act of 1934), Ellen Jacobs converted 2,500 Class C Profits Interest Units ("Class C Units") into common limited partnership units ("Common Units") of Digital Realty Trust, L.P., a Maryland Limited Partnership (the "Operating Partnership"), and subsequently redeemed the 2,500 Common Units for 2,500 shares of the common stock of Digital Realty Trust, Inc. (the "Issuer"), all in accordance with the requirements of the Limited Partnership Agreement of the Operating Partnership.

F2: Class C Units are membership interests in the Operating Partnership of which the Issuer is the general partner. Class C Units that have satisfied the performance condition and achieved full parity with Common Units receive the same quarterly distributions as Common Units, and 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. The Class C Units have achieved full parity with Common Units.

F3: 1 for 1.

F4: N/A

F5: Common Stock sold in accordance with the terms of a Trading Plan (SEC Rule 10b5-1 - Securities Exchange Act of 1934).

F6: Twenty percent of the option shares vested on May 2, 2008; thereafter 1/60th vest monthly so that the option will be fully vested on the fifth anniversary of the grant date.