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BRANDYWINE REALTY TRUST

For the period ended May 28, 2026. Filed Apr 7, 2026.

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About this filing

What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

May 28, 2026 · Filed Apr 7, 2026

BDN$3.24+2.2%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

Filed by the Registrant☒Filed by a Party other than the Registrant☐

Check the appropriate box:

☐Preliminary Proxy Statement
☐Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒Definitive Proxy Statement
☐Definitive Additional Materials
☐Soliciting Material under §240.14a-12

Brandywine Realty Trust

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check all boxes that apply):

☒No fee required.
☐Fee paid previously with preliminary materials.
☐Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

Notice of Annual Meeting of Shareholders

To our Shareholders:

We cordially invite you to attend the 2026 Annual Meeting of Shareholders of Brandywine Realty Trust, a Maryland real estate investment trust (the “Company”). To enable shareholder participation from any location, the 2026 annual meeting will be held exclusively online. The annual meeting can be accessed via a live webcast atwww.virtualshareholdermeeting.com/BDN2026. The annual meeting has been designed to provide the same rights to participate as you would have at an in-person meeting. You may also submit questions in advance of the annual meeting by visiting www.proxyvote.com. We will respond to as many inquiries at the annual meeting as time allows. Prior to the annual meeting you will be able to authorize a proxy to vote your shares at www.proxyvote.com on the matters submitted for shareholder approval at the annual meeting, and we encourage you to do so.

If you plan to attend the annual meeting, you will need the 16-digit control number included in your Notice of Internet Availability, on your proxy card or on the instructions that accompany your proxy materials. The annual meeting will begin promptly at 10:00 a.m. (Eastern Time). Online check-in will begin at 9:30 a.m. (Eastern Time), and you should allow ample time for the online check-in procedures.

MEETING DATEMEETING TIMEMEETING PLACERECORD DATE
Thursday,May 28, 202610:00 a.m.(Eastern Time)Live webcast at:www.virtualshareholdermeeting.com/BDN2026Thursday, March 26, 2026

At the annual meeting, shareholders as of the close of business on the record date will be asked to consider and vote upon the following matters, as more fully described in the Proxy Statement:

To consider and vote upon the election of six persons to the Board of Trustees of the Company, each to serve for a term expiring at the 2027 annual meeting of shareholders and until his or her successor is duly elected and qualified.

To consider and vote upon the ratification of the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for calendar year 2026.

To consider and vote upon the approval of a non-binding, advisory resolution on executive compensation.

To consider and vote upon an amendment to the Company's 2023 Long-Term Incentive Plan to increase the term of the plan and the number of common shares that may be issued thereunder.

To transact such other business as may properly come before the meeting and at any postponement or adjournment of the meeting.

YOUR VOTE IS IMPORTANT TO US. Whether or not you plan to virtually attend the 2026 annual meeting, please authorize a proxy to vote your shares as soon as possible to ensure that your shares will be represented at the annual meeting.

By Order of the Board of Trustees

Shawn Neuman, Senior Vice President, General Counsel and Secretary

April 7, 2026

2929 Arch Street, Suite 1800 | Philadelphia, Pennsylvania 19104 | (610) 325-5600

Proxy Statement for the

Annual Meeting of Shareholders

To be held on May 28, 2026

The Annual Meeting of Shareholders of Brandywine Realty Trust (“Brandywine,” “we,” “us,” “our” or the “Company”) will be held on Thursday, May 28, 2026 at 10:00 a.m., Eastern Time. To enable shareholder participation from any location, the 2026 annual meeting will be held exclusively online. The annual meeting can be accessed via a live webcast atwww.virtualshareholdermeeting.com/BDN2026. The annual meeting has been designed to provide the same rights to participate as you would have at an in-person meeting.

At our annual meeting, we will ask you:

To consider and vote upon the election of six persons to the Board of Trustees of the Company, each to serve for a term expiring at the 2027 annual meeting of shareholders and until his or her successor is duly elected and qualified.

To consider and vote upon the ratification of the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for calendar year 2026.

To consider and vote upon the approval of a non-binding, advisory resolution on executive compensation.

To consider and vote upon an amendment to the Company's 2023 Long-Term Incentive Plan to increase the term of the plan and the number of common shares that may be issued thereunder.

To transact such other business as may properly come before the meeting and at any postponement or adjournment of the meeting.

Only holders of record of our common shares of beneficial interest, par value $0.01 per share, as of the close of business on March 26, 2026 are entitled to notice of and to vote at the annual meeting or at any postponement or adjournment of the meeting.

Our Board of Trustees knows of no other business that will be presented for consideration at the annual meeting. If any other matter should be properly presented at the annual meeting or any postponement or adjournment of the annual meeting for action by the shareholders, the persons named in the proxy card will vote the proxy in accordance with their discretion on such matter.

On or about April 7, 2026, we mailed a Notice of Internet Availability of Proxy Materials to shareholders. This proxy statement and the form of proxy are first being furnished to shareholders on or about April 7, 2026.

Important Notice Regarding Internet Availability of Proxy Materials We are pleased to take advantage of the Securities and Exchange Commission rules allowing companies to furnish proxy materials to their shareholders over the Internet. We believe that this e-proxy process will expedite shareholders’ receipt of proxy materials, lower the costs and reduce the environmental impact of our 2026 annual meeting of shareholders. We will send a full set of proxy materials or a “Notice of Internet Availability” of Proxy Materials on or about April 7, 2026 and provide access to our proxy materials over the Internet, beginning on April 7, 2026, for the holders of record and beneficial owners of our common shares as of the close of business on the record date. The Notice of Internet Availability instructs you on how to access and review the Proxy Statement and our annual report, and how to authorize a proxy to vote your shares over the Internet. Instead of receiving paper copies of future annual reports and proxy statements in the mail, you may elect to receive an e-mail that will provide an electronic link to these documents. Choosing to receive your proxy materials online will save us the cost of producing and mailing documents to you. With electronic delivery, we will notify you by e-mail as soon as the annual report and proxy statement are available on the Internet, and you may easily submit your shareholder votes online. If you are a shareholder of record, you may enroll in the electronic delivery service at the time you vote by selecting electronic delivery if you vote on the Internet, or at any time in the future by going directly to www.proxyvote.com, selecting the “request copy” option, and following the enrollment instructions.

Important Notice Regarding the Availability of Proxy Materials

for the Shareholders Meeting to be Held on May 28, 2026

This proxy statement, the form of proxy and our 2025 annual report to

shareholders are available atwww.proxyvote.com.

Table of Contents

Business Highlights1
Sustainability, Social Responsibility and Corporate Governance2
Sustainability Snapshot2
Corporate Social Responsibility Snapshot5
Corporate Governance Snapshot7
Information about the Meeting and Voting10
How Can I Participate in the Annual Meeting?10
What Am I Voting On?10
What Are the Board’s Recommendations?10
Who Is Entitled to Vote?11
How Do I Vote?11
How May I Revoke or Change My Vote12
What Constitutes a Quorum?13
What Is a Broker Non-Vote?13
What Vote Is Required to Approve Each Proposal?13
Who Counts the Votes?14
What Does it Mean if I Receive More Than One Proxy Card?14
What if I Receive Only One Set of Proxy Materials Although There Are Multiple Shareholders at My Address?15
How Do I Submit a Shareholder Proposal for Next Year’s Annual Meeting?15
How Can I Access the Proxy Materials Electronically?17
Proposal 1: Election of Trustees19
Trustee Criteria, Qualifications, Experience and Tenure19
Annual Board Evaluation Process21
Trustees; Nominees21
Committees of the Board of Trustees29
Trustee Independence; Independence Determination33
Corporate Governance34
Board Oversight of Strategy and Board’s Role in Risk Oversight38
Trustee Nominations40
Trustee Compensation42
Executives and Executive Compensation45
Current Executive Officers45
Compensation Discussion and Analysis48
Compensation Tables and Related Information76
Pay Ratio Disclosure89
Pay Versus Performance90
Proposal 2: Ratification of the Appointment of Independent Registered Public Accounting Firm97
Fees to Independent Registered Public Accounting Firm98
Proposal 3: Advisory Vote on Executive Compensation101
Proposal 4: Approval of the Amendment to the 2023 Long-Term Incentive Plan102
Security Ownership of Certain Beneficial Owners and Management114
Certain Relationships and Related Party Transactions115
Proposals Pursuant to SEC Rule 14a-8116
Proxy Access Trustee Nominees116
Other Proposals and Nominees117
Review of Shareholder Proposals; Other Business117
Expenses of Solicitation117
Appendix A: Reconciliation of Non-GAAP Financial Measures to GAAP Measures (unaudited, in thousands)A-1
Appendix B: 2023 Long-Term Incentive Plan, as amended as described in Proposal 4B-1

CAUTIONARY STATEMENTS FOR FORWARD-LOOKING INFORMATION We have made statements in this Proxy Statement that are forward-looking and therefore are subject to risks and uncertainties. All statements in this document other than statements of historical fact are, or could be, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may appear throughout this Proxy Statement. Words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “forecast,” “project” or “plan” and terms of similar meaning are also generally intended to identify forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. We caution that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond our control, that could cause our actual results to differ materially from those expressed or implied by such forward-looking statements. A detailed discussion of risks related to our business is included in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the 2025 fiscal year filed with the SEC on February 23, 2026, as supplemented by any subsequently filed Quarterly Report on Form 10-Q. Shareholders, potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this Proxy Statement are made only as of the date of this document, unless otherwise specified, and, except as required by law, we assume no obligation, and disclaim any obligation, to update such statements to reflect events or circumstances occurring after the date of this Proxy Statement. WEBSITES Website addresses referenced in this proxy statement are provided for convenience only, and the content on the referenced websites does not constitute a part of this proxy statement.

BRANDYWINE REALTY TRUST

Business Highlights 1

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.