Sec Form 4 Filing - CARON DAVID @ Digital Realty Trust, Inc. - 2014-12-03

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person CARON DAVID 2. Issuer Name and Ticker or Trading Symbol Digital Realty Trust, Inc. [ DLR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Senior Vice President (Last) (First) (Middle) FOUR EMBARCADERO CENTER, SUITE 3200 3. Date of Earliest Transaction (MM/DD/YY) 12/03/2014 (Street) SAN FRANCISCO, CA94111 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 12/03/2014 M( 1 ) 18,132 A 18,132 D Common Stock 12/03/2014 M( 3 ) 11,868 A 30,000 D Common Stock 12/04/2014 S 30,000 D $ 68.4632 ( 5 ) 0 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Class C Units ( 2 ) ( 6 ) 12/03/2014 M( 1 ) 18,132 ( 2 ) ( 7 ) Common Stock 18,132 $ 0 2,037 D Long-Term Incentive Units ( 4 ) ( 6 ) 12/03/2014 M( 3 ) 11,868 ( 4 ) ( 7 ) Common Stock 11,868 $ 0 95,328 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other CARON DAVID FOUR EMBARCADERO CENTER, SUITE 3200 SAN FRANCISCO, CA94111 Senior Vice President Signatures /s/ S. Ryan Black, attorney-in-fact 12/05/2014 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The reporting person converted Class C Profits Interest Units ("Class C Units") into common limited partnership units ("Common Units") of Digital Realty Trust, L.P., a Maryland limited partnership of which the Issuer is the general partner (the "Operating Partnership"), and subsequently redeemed the Common Units for shares of the common stock of the Issuer, all in accordance with the requirements of the Limited Partnership Agreement of the Operating Partnership. ( 2 )Class C Units are membership interests in the Operating Partnership. Vested Class C Units that have satisfied the performance condition and achieved full parity with Common Units receive the same quarterly distributions as Common Units and may be converted into an equal number of Common Units on a one-for-one basis at any time. Common Units will be redeemable for cash based on the fair market value of an equivalent number of shares of the Issuer's common stock, or, at the election of the Issuer, for an equal number of shares of the Issuer's common stock. The Class C Units have achieved full parity with Common Units. ( 3 )The reporting person converted long-term incentive units into Common Units of the Operating Partnership and subsequently redeemed the Common Units for shares of the common stock of the Issuer, all in accordance with the requirements of the Limited Partnership Agreement of the Operating Partnership. ( 4 )Long-term incentive units are profits interest units in the Operating Partnership. Vested profits interest units may be converted into an equal number of Common Units in the Operating Partnership on a one-for-one basis at any time. Common Units are redeemable for cash based on the fair market value of an equivalent number of shares of the Issuer's common stock or, at the election of the Issuer, for an equal number of shares of the Issuer's common stock, subject to adjustment in the event of stock splits, stock dividends, issuance of stock rights, specified extraordinary distributions or similar events. ( 5 )The price reported is a weighted average price. These shares were sold at prices ranging from $68.18 to $68.88. ( 6 )1-for-1 ( 7 )N/A

Remarks: This statement of changes in beneficial ownership of securities ("Form 4") of the Issuer is being filed to report transactions that are also being reported concurrently on a Form 4 for the Operating Partnership. The changes in beneficial ownership reported on this Form 4 are as a result of the same transactions reported in the Form 4 for the Operating Partnership.

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).

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