Ronald E. Kendall - Jan 18, 2022 Form 4 Insider Report for Easterly Government Properties, Inc. (DEA)

Role
EVP Government Relations
Signature
/s/ Franklin V. Logan, Attorney-in-fact for Ronald E. Kendall
Stock symbol
DEA
Transactions as of
Jan 18, 2022
Transactions value $
$0
Form type
4
Date filed
1/20/2022, 03:50 PM
Previous filing
Jan 5, 2022
Next filing
Jan 19, 2023

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 +3.25K +554.61% $0.00 3.84K Jan 18, 2022 Common Stock 3.25K Direct F1, 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, that were granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, subject to certain performance vesting hurdles based on the Issuer's performance from January 2, 2019 through December 31, 2021 (the "LTIP Unit Award"), and which were earned upon the determination by the Issuer's compensation committee that the performance vesting hurdles had been achieved.
F2 Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in the Operating Partnership (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. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The rights to convert vested LTIP Units into Common Units and redeem Common Units do not have expiration dates.
F3 The total number of derivative securities represents the aggregate of all LTIP Units earned by the reporting person pursuant to the LTIP Unit Award. 50% of the LTIP Units vested when earned and 50% will vest on January 2, 2023, subject to continued employment.