Franklin Logan V - 22 Feb 2023 Form 3 Insider Report for Easterly Government Properties, Inc. (DEA)

Role
EVP, GC & Secretary
Signature
/s/ Franklin V. Logan
Issuer symbol
DEA
Transactions as of
22 Feb 2023
Net transactions value
$0
Form type
3
Filing time
06 Mar 2023, 15:11:21 UTC
Next filing
04 Jan 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding DEA Common Stock 1,051 22 Feb 2023 Direct

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
holding DEA LTIP Units 22 Feb 2023 Common Stock 1,926 Direct F1, F2
holding DEA LTIP Units 22 Feb 2023 Common Stock 1,957 Direct F2, F3
holding DEA LTIP Units 22 Feb 2023 Common Stock 3,926 Direct F2, F4
holding DEA LTIP Units 22 Feb 2023 Common Stock 543 Direct F2, F5
holding DEA LTIP Units 22 Feb 2023 Common Stock 1,078 Direct F2, F6
holding DEA LTIP Units 22 Feb 2023 Common Stock 658 Direct F2, F7
holding DEA LTIP Units 22 Feb 2023 Common Stock 9,277 Direct F2
holding DEA Common Units 22 Feb 2023 Common Stock 6,957 Direct F8
* 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, 2023 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 LTIP Units in the Operating Partnership granted pursuant to the Plan. The LTIP Units, and the Common Units into which such LTIP Units may be converted, will vest on December 31, 2024 in accordance with the terms of the award and subject to the reporting person's continued employment.
F4 Represents LTIP Units in the Operating Partnership granted pursuant to the Plan. The LTIP Units, and the Common Units into which such LTIP Units may be converted, will vest on December 31, 2025 in accordance with the terms of the award and subject to the reporting person's continued employment.
F5 Represents a target 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, 2023. Subject to the reporting person's continued employment, earned LTIP Units will vest when earned following the end of the performance period.
F6 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, 2024. Subject to the reporting person's continued employment, earned LTIP Units will vest when earned following the end of the performance period.
F7 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, 2025. Subject to the reporting person's continued employment, earned LTIP Units will vest when earned following the end of the performance period.
F8 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, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to redeem Common Units do not have expiration dates.

Remarks:

See Exhibit 24.1 - Power of Attorney