DIGITAL REALTY TRUST, INC. — Director's Dealing 2019

May 15, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Digital Realty Trust, Inc. (DLR)
CIK: 0001297996
Period of Report: 2019-05-13

Reporting Person: CHAPMAN LAURENCE A (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-05-13	Long-Term Incentive Units	$	A	303	Acquired		Common Stock (303.0)	Direct
2019-05-13	Long-Term Incentive Units	$	A	2270	Acquired		Common Stock (2270.0)	Direct

Footnotes

F1: Long-Term Incentive Units are profits interest units in Digital Realty Trust, L.P. ("Operating Partnership"), of which Issuer is the general partner. Profits interest units may initially not have full parity with common limited partnership units of the Operating Partnership ("Common Units") with respect to liquidating distributions; however upon the occurrence of specified events, profits interest units may achieve full parity with Common Units for all purposes. These units were fully vested on the grant date. Vested profits interest units that have achieved full parity with Common Units may be converted into an equal number of Common Units on a 1-for-1 basis at any time. Common Units are redeemable for cash based on the FMV of an equivalent number of shares of common stock of Issuer or, at the election of Issuer, for an equal number of shares of Issuer's common stock, subject to adjustment in the event of stock splits, specified extraordinary distributions or similar events.

F2: N/A

F3: Awards vest on the earlier of (i) the first anniversary of the grant date or (b) the day before the date of the next annual meeting of stockholders of the Company to occur following the grant date. The vested profits interest units have no expiration date.