Darrell W. Crate - 11 Mar 2022 Form 4 Insider Report for Easterly Government Properties, Inc. (DEA)

Footnote F1

19,594 LTIP units ("LTIP Units") in Easterly Government Properties LP (the "Partnership"), of which the Issuer is the sole general partner, were exchanged for an equal number of common units of limited partnership interest in the Partnership ("Common Units"), which were subsequently redeemed for an equal number of shares of the Issuer's common stock, par value $0.01 per share ("Common Stock").

Footnote F2

These shares were all sold at a price of $21.00 per share.

Footnote F3

135,406 Common Units were redeemed for an equal number of shares of Common Stock.

Footnote F4

Represents the weighted average sale price per share. These shares were sold in multiple transactions at prices ranging from $21.00 to $21.17 per share, inclusive. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Footnote F5

10,000 LTIP Units were exchanged for an equal number of Common Units, which were subsequently redeemed for an equal number of shares of Common Stock.

Footnote F6

Represents the weighted average sale price per share. These shares were sold in multiple transactions at prices ranging from $20.75 to $20.88 per share, inclusive. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Footnote F7

3,751 LTIP Units were exchanged for an equal number of Common Units, which were subsequently redeemed for an equal number of shares of Common Stock.

Footnote F8

Represents the weighted average sale price per share. These shares were sold in multiple transactions at prices ranging from $20.85 to $21.01 per share, inclusive. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Footnote F9

Represents LTIP Units granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, as amended, subject to certain performance vesting hurdles, which were earned based on the Issuer's performance from January 4, 2018 through December 31, 2019.

Footnote F10

Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be exchanged, at the election of either the holder or the Partnership, into a Common Unit. Each Common 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 elect to 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 grant date. These redemption rights have no expiration date.

Footnote F11

Represents LTIP Units granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, as amended, subject to certain performance vesting hurdles, which were earned based on the Issuer's performance from January 2, 2019 through December 31, 2021.

Footnote F12

Each Common 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 elect to acquire each Common Unit so presented for one share of Common Stock. These redemption rights have no expiration date.