Tax withholding trims EVP stake at Brandywine Realty (NYSE: BDN)

Rhea-AI Filing Summary

BRANDYWINE REALTY TRUST executive H. Jeffrey DeVuono reported a routine tax-related share disposition. On the reported date, 24,632 Common Shares of Beneficial Interest were withheld at $2.76 per share to satisfy payroll taxes tied to vesting or delivery of equity awards. After this non‑market tax-withholding transaction, he directly holds 770,998 common shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider DEVUONO H JEFFREY

Role EVP & Senior Managing Director

Type	Security	Shares	Price	Value
Tax Withholding	Common Shares of Beneficial Interest	24,632	$2.76	$68K

Holdings After Transaction: Common Shares of Beneficial Interest — 770,998 shares (Direct)

Footnotes (1)

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Key Figures

Shares withheld for taxes: 24,632 shares Transaction price per share: $2.76 per share Shares owned after transaction: 770,998 shares +2 more

5 metrics

Shares withheld for taxes 24,632 shares Tax-withholding disposition on reported transaction date

Transaction price per share $2.76 per share Value used for tax-withholding share disposition

Shares owned after transaction 770,998 shares Direct holdings following tax-withholding disposition

Transaction code F Payment of exercise price or tax liability by delivering securities

Ownership type Direct Direct ownership of common shares after transaction

Key Terms

Common Shares of Beneficial Interest, tax-withholding disposition, equity awards, Form 4

4 terms

Common Shares of Beneficial Interest financial

"security_title: Common Shares of Beneficial Interest"

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

tax-withholding disposition financial

"transaction_action: tax-withholding disposition"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

equity awards financial

"vesting or delivery of equity awards."

Equity awards are payments to employees or directors made in the form of company stock or rights to buy stock later, serving as a way to share ownership rather than cash. For investors, they matter because they align staff incentives with company performance, can increase the number of shares outstanding over time (which can reduce each share’s claim on profits), and create compensation costs that affect reported earnings.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DEVUONO H JEFFREY

(Last) (First) (Middle)

2929 ARCH STREET, SUITE 1800

SUITE 1800

(Street)

PHILADELPHIA PENNSYLVANIA 19104

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BRANDYWINE REALTY TRUST [ BDN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & Senior Managing Director

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest	04/15/2026		F		24,632(1)	D	$2.76	770,998	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares withheld to satisfy payroll taxes for vesting or delivery of equity awards.

	/s/ Shawn Neuman as Attorney-in-Fact for H. Jeffrey DeVuono	04/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did BDN executive H. Jeffrey DeVuono report in this Form 4?

He reported a tax-related share disposition where 24,632 common shares were withheld at $2.76 each. The shares covered payroll taxes tied to vesting or delivery of equity awards and did not involve an open-market sale.

Was the Brandywine (BDN) Form 4 transaction an open-market sale?

No, the Form 4 shows a tax-withholding disposition, not an open-market sale. Shares were withheld by the issuer to satisfy payroll taxes due on vesting or delivery of equity awards, a common non-market administrative transaction.

How many Brandywine (BDN) shares were withheld for taxes in this filing?

The Form 4 reports that 24,632 common shares of beneficial interest were withheld. They were valued at $2.76 per share for the transaction, according to the filing’s non-derivative transaction details and related footnote.

How many Brandywine (BDN) shares does H. Jeffrey DeVuono hold after this transaction?

After the tax-withholding disposition, H. Jeffrey DeVuono directly holds 770,998 common shares. This figure represents his post-transaction ownership as reported in the Form 4’s total shares following the transaction field.

What does transaction code “F” mean in the Brandywine (BDN) Form 4?

Transaction code “F” indicates payment of an exercise price or tax liability by delivering securities. Here, it reflects shares withheld to satisfy payroll taxes related to vesting or delivery of equity awards, rather than a discretionary market trade.