ESSEX PORTFOLIO LP
For the period ended Jun 30, 2026. Filed Jul 30, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Jul 30, 2026
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Unregistered Sales of Equity Securities and Use of Proceeds
Unregistered Sales of Equity Securities; Essex Portfolio, L.P.
During the three months ended June 30, 2026, the Operating Partnership issued OP Units in private placements in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act, in the amounts and for the consideration set forth below:
During the three months ended June 30, 2026, Essex issued an aggregate of 6,761 shares of its common stock upon the exercise of stock options, the vesting of restricted stock awards, and the exchange of OP units by limited partners or members into shares of common stock. Essex contributed the net proceeds of $0.3 million from the option exercises during the three months ended June 30, 2026 to the Operating Partnership in exchange for an aggregate of 1,368 OP Units, as required by the Operating Partnership’s partnership agreement. Furthermore, for each share of common stock issued by Essex in connection with vesting of restricted stock awards and the exchange of OP Units, the Operating Partnership issued OP Units to Essex, as required by the partnership agreement. During the three months ended June 30, 2026, 5,393 OP Units were issued to Essex pursuant to this mechanism.
Stock Repurchases
The following table summarizes the Company’s purchases of its common stock during the three months ended June 30, 2026:
| Total Number ofShares Purchased | Average PricePaid Per Share (1) | Total Number of SharesPurchased as Part of aPublicly AnnouncedProgram (2) | Maximum Dollar Value of Shares that May Yet Be Purchased Under the Program (in millions) (2) | |
|---|---|---|---|---|
| April 1, 2026 - April 30, 2026 | 48,261 | $242.47 | 48,261 | $240.8 |
| Total | 48,261 | $242.47 | 48,261 | $500.0 |
(1)Includes commissions for the shares repurchased under the stock repurchase plan.
(2)In May 2026, the Board of Directors approved a new stock repurchase plan to allow the Company to acquire shares of common stock up to an aggregate of $500.0 million. The plan supersedes the Company’s previous common stock repurchase plan announced in September 2022.
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