DIGITAL REALTY TRUST, INC. — Director's Dealing 2015

Feb 13, 2015

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: Digital Realty Trust, Inc. (DLR)
CIK: 0001297996
Period of Report: 2014-12-31

Reporting Person: Mills Joshua A. (SVP & General Counsel)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-06-05	Long-Term Incentive Units	$	G	135	Disposed		Common Stock (135)	Direct
2014-12-25	Long-Term Incentive Units	$	G	80	Disposed		Common Stock (80)	Direct

Footnotes

F1: Long-Term Incentive Units are membership interests in Digital Realty Trust, L.P., a Maryland limited partnership (the "Operating Partnership"), of which the Issuer is the general partner. Vested Long-Term Incentive Units that have satisfied the performance condition and achieved full parity with the Common Units (as defined below) 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.

F2: 1 for 1

F3: The reporting person converted Long-Term Incentive Units into common limited partnership units ("Common Units") of the Operating Partnership and subsequently transferred the Common Units as a gift to a charitable foundation, all in accordance with the requirements of the Limited Partnership Agreement of the Operating Partnership.

F4: N/A