Director at Realty Income (NYSE: O) receives 3,214-share stock award

Rhea-AI Filing Summary

Jacobson Jeff A reported acquisition or exercise transactions in this Form 4 filing.

REALTY INCOME CORP director Jeff A. Jacobson received a grant of 3,214 shares of Common Stock. The award was granted through an incentive plan at no cash cost to him and increases his direct holdings to 14,846 shares. The granted shares vest in three equal 33.33% installments on each of the first three anniversaries of the grant date, meaning the award is earned over time as continued service-based compensation.

Insights

Insider transactions analyst

Routine equity grant to director with multi-year vesting.

Director Jeff A. Jacobson received an equity award of 3,214 shares of REALTY INCOME CORP Common Stock. The Form 4 classifies this as a grant or award acquisition, not an open-market purchase.

The shares were issued under an incentive plan with no consideration paid, indicating standard director compensation. Vesting occurs in three equal 33.33% tranches on each of the first three anniversaries, aligning the award with ongoing board service.

After this award, Jacobson directly holds 14,846 shares. There are no derivative positions reported in this filing, and no sales, tax withholdings, or restructuring transactions, suggesting a straightforward, routine compensation event.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Jacobson Jeff A

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,214	$0.00	--

Holdings After Transaction: Common Stock — 14,846 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares granted: 3,214 shares Transaction price: $0.00 per share Post-transaction holdings: 14,846 shares +1 more

4 metrics

Shares granted 3,214 shares Common Stock award to director on May 21, 2026

Transaction price $0.00 per share No consideration paid; incentive plan grant

Post-transaction holdings 14,846 shares Director’s direct Common Stock holdings after grant

Vesting schedule 33.33% per year over 3 years First three anniversaries of the grant date

Key Terms

incentive plan, vest, Grant, award, or other acquisition, Common Stock

4 terms

incentive plan financial

"Shares granted through an incentive plan; no consideration was paid."

vest financial

"Shares vest in 33.33% increments on each of the first three anniversaries"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

Common Stock financial

"security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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^*

Jacobson Jeff A

(Last) (First) (Middle)

11995 EL CAMINO REAL

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
REALTY INCOME CORP [ O ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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 Stock	05/21/2026		A		3,214	A	$0(1)	14,846	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 granted through an incentive plan; no consideration was paid. Shares vest in 33.33% increments on each of the first three anniversaries of the grant date.

Remarks:

	/s/ Bianca Martinez, by Power of Attorney	05/26/2026
	** 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 insider transaction did REALTY INCOME CORP (O) disclose for Jeff A. Jacobson?

REALTY INCOME CORP reported that director Jeff A. Jacobson received 3,214 shares of Common Stock as an equity award. The shares were granted under an incentive plan at no cash cost and increase his direct holdings to 14,846 shares after the transaction.

Was cash paid for the 3,214-share award to REALTY INCOME CORP (O) director Jeff A. Jacobson?

No cash was paid for the award; it was granted through an incentive plan. The footnote states that no consideration was paid, confirming this is compensation-based equity rather than an open-market purchase by the director.

How do the granted shares to REALTY INCOME CORP (O) director Jeff A. Jacobson vest?

The 3,214 granted shares vest in three equal 33.33% installments. Vesting occurs on each of the first three anniversaries of the grant date, meaning the director earns the full award over a three-year service period.

How many REALTY INCOME CORP (O) shares does Jeff A. Jacobson hold after this Form 4 transaction?

Following the equity grant, Jeff A. Jacobson directly holds 14,846 shares of REALTY INCOME CORP Common Stock. This total reflects his position after adding the 3,214-share award reported in the Form 4 filing.

Does the REALTY INCOME CORP (O) Form 4 for Jeff A. Jacobson include any stock sales?

The Form 4 shows no stock sales for Jeff A. Jacobson. It reports only a grant or award acquisition of 3,214 shares of Common Stock, with no dispositions, tax withholdings, gifts, or restructuring transactions listed.

Is the 3,214-share award to REALTY INCOME CORP (O) director Jeff A. Jacobson an open-market purchase?

The award is not an open-market purchase; it is a grant classified as a "grant, award, or other acquisition." The footnote explains it was issued through an incentive plan with no consideration paid by the director.