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Lineage rolls out equity awards to about 22,000 employees after IPO

The Starting LINE Awards were issued to roughly 22,000 global team members, while the follow-on Lineage Legacies program granted RSUs to eligible employees that vest over time.

Reported · Written up by our desk · REITs

Lineage, Inc., a Nasdaq-listed REIT focused on temperature-controlled warehouse facilities, says it has expanded employee ownership through equity compensation programs launched after its 2024 IPO. According to Nareit, Lineage issued a one-time set of stock or restricted stock units to about 22,000 global team members. The awards, called “Starting LINE Awards,” were designed to recognize eligible employees, with U.S.-based team members receiving stock or RSUs and certain international employees receiving cash bonuses due to local regulatory and market considerations.

At the same time, Lineage introduced “Lineage Legacies,” an ongoing program that grants RSUs to eligible employees that vest over time. Nareit reports that Lineage Legacies is set to run for eligible employees in North America and Asia-Pacific, and that roughly 15,000 team members received Legacies grants last year, with the most recent grants issued in July.

Lineage Human Resources Chief Kelly Burlage said the initiatives reflect the company founders’ goal of creating meaningful ownership opportunities for team members. Nareit also notes the REIT operates 498 facilities across 19 countries, with about 24,000 workers worldwide, including about 16,000 in the U.S.

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