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Lineage REIT hands out stock awards to about 22,000 employees

The Starting LINE Awards followed Lineage’s 2024 IPO, and the company later rolled out Lineage Legacies grants that reached about 15,000 workers last year.

Reported · Written up by our desk · REITs

Lineage, Inc., a Nasdaq-listed REIT specializing in temperature-controlled warehouse facilities, said it expanded employee equity after its 2024 IPO by issuing one-time stock or restricted stock units to about 22,000 global team members. The awards, called the Starting LINE Awards, were created to give eligible employees ownership opportunities that are typically reserved for executives and senior management, according to Nareit.

In parallel, Lineage launched Lineage Legacies, an ongoing program that provides eligible employees RSUs that vest over time. The company said Lineage Legacies was designed to connect workers more directly to the REIT’s long-term performance and support employees’ own financial futures.

Lineage Chief Human Resources Officer Kelly Burlage said the initiatives reflect the company’s founders’ vision for a culture of ownership. Nareit also said Starting LINE Awards recognized employees who helped bring Lineage to its public market milestone, with eligible U.S. team members receiving stock or RSUs, while employees in select international markets received cash bonuses to account for local regulatory and market considerations.

Lineage Legacies is available to eligible team members in North America and Asia-Pacific. Nareit reported that about 15,000 team members received Legacies grants last year, with the most recent awards made in July, and it cited commentary from Morgan Stanley at Work that equity compensation continues to resonate as a driver of motivation and long-term value understanding among employees.

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