Darrell W. Crate - Jan 2, 2024 Form 4 Insider Report for Easterly Government Properties, Inc. (DEA)

Role
CEO, Director
Signature
/s/ Franklin V. Logan, Attorney-in-fact for Darrell W. Crate
Stock symbol
DEA
Transactions as of
Jan 2, 2024
Transactions value $
$0
Form type
4
Date filed
1/4/2024, 04:42 PM
Previous filing
Dec 14, 2023
Next filing
Jan 19, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DEA LTIP Units Award $0 +79.4K $0.00 79.4K Jan 2, 2024 Common Stock 79.4K Direct F1, F2
transaction DEA LTIP Units Award $0 +13.9K $0.00 13.9K Jan 2, 2024 Common Stock 13.9K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents LTIP Units in Easterly Government Properties LP (the "Operating Partnership"), of which the Issuer is the general partner, granted pursuant to the Issuer's 2015 Equity Incentive Plan, as amended (the "Plan"). The LTIP Units, and the common units of limited partnership interest in the Operating Partnership (each, a "Common Unit") into which such LTIP Units may be converted, will vest on December 31, 2026 in accordance with the terms of the award and subject to the reporting person's continued employment.
F2 Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of the holder, into a Common Unit. Each Common Unit acquired upon conversion of an LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the fair market value of a share of the Issuer's Common Stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert vested LTIP Units into Common Units and redeem Common Units do not have expiration dates.
F3 Represents the maximum number of LTIP Units in the Operating Partnership granted as long-term incentive compensation pursuant to the Plan that may be earned based on the Issuer's performance through December 31, 2026. Subject to the reporting person's continued employment, earned LTIP Units will vest when earned following the end of the performance period.