Darrell W. Crate - Oct 4, 2023 Form 4 Insider Report for Easterly Government Properties, Inc. (DEA)

Role
Chairman, Director
Signature
/s/ Franklin V. Logan, Attorney-in-fact for Darrell W. Crate
Stock symbol
DEA
Transactions as of
Oct 4, 2023
Transactions value $
$0
Form type
4
Date filed
10/6/2023, 04:13 PM
Previous filing
Jan 19, 2023
Next filing
Dec 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DEA Common Stock Conversion of derivative security $0 +83.4K +10789.26% $0.00 84.2K Oct 4, 2023 Direct F1

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 Conversion of derivative security $0 -18.4K -100% $0.00* 0 Oct 4, 2023 Common Stock 18.4K Direct F2, F3
transaction DEA LTIP Units Conversion of derivative security $0 -10.7K -100% $0.00* 0 Oct 4, 2023 Common Stock 10.7K Direct F3, F4
transaction DEA LTIP Units Conversion of derivative security $0 -31.2K -94.22% $0.00 1.91K Oct 4, 2023 Common Stock 31.2K Direct F3, F5
transaction DEA LTIP Units Conversion of derivative security $0 -23.1K -100% $0.00* 0 Oct 4, 2023 Common Stock 23.1K Direct F3, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 83,401 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").
F2 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, 2020.
F3 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.
F4 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, 2020.
F5 Represents LTIP Units granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, as amended, subject to certain service based conditions and/or performance vesting hurdles, which vested and/or were earned based on the Issuer's performance from January 3, 2020 through December 31, 2022.
F6 Represents LTIP Units granted pursuant to the Issuer's 2015 Equity Incentive Plan, as amended, on December 19, 2019.