Jennifer Robison - Jul 15, 2021 Form 4 Insider Report for Phillips Edison & Company, Inc. (PECO)

Role: Chief Accounting Officer & SVP
Signature: Jennifer Robison, Attorney-in-Fact
Stock symbol: PECO
Transactions as of: Jul 15, 2021
Transactions value $: $0
Form type: 4
Date filed: 7/19/2021, 05:10 PM
Next filing: Jan 4, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PECO	Common Stock	Other	$0	-4.06K	-33.15%	$0.00	8.19K	Jul 2, 2021	Direct	F1, F2, F3
transaction	PECO	Class B Common Stock	Other	$0	+4.06K		$0.00	4.06K	Jul 2, 2021	Direct	F1, F2
transaction	PECO	Common Stock	Award	$0	+5.93K	+72.46%	$0.00	14.1K	Jul 15, 2021	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On July 2, 2021, the Issuer effected a one-for-three reverse stock split (the "Reverse Stock Split") of all of its issued and outstanding shares of common stock ("Common Stock"), which resulted in the Reporting Person's ownership of issued and outstanding Common Stock being reduced from 12,176.86 shares of Common Stock to 4,058.953 shares of Common Stock.
F2	On July 2, 2021, immediately following the Reverse Stock Split, the Issuer effected a reclassification transaction exempt under Rule 16b-7 in which each issued and outstanding share of its Common Stock on July 2, 2021, was reclassified into a share of newly created Class B common stock; thus, all of the Reporting Person's shares of Common Stock held as of July 2, 2021, are now shares of Class B common stock. The Issuer's Class B common stock is identical to its Common Stock, except that (i) it is not currently listed on a national securities exchange and (ii) it will automatically convert to the Issuer's listed Common Stock on January 15, 2022.
F3	As a result of the Reverse Stock Split, the Reporting Person's ownership of unvested restricted stock units ("RSUs") representing underlying shares of Common Stock, which were issued to the Reporting Person under the Issuer's long term incentive plan, being reduced from 24,561 RSUs to 8,187 RSUs. Reporting Person's shares of Common Stock are subject to a 180-day lock-up beginning on July 15, 2021.
F4	Represents the grant of RSUs that will vest as to 50% of the award on the eighteen month anniversary of the date of grant and 50% of the award on the thirty-six month anniversary of the date of grant, subject to continued service through the applicable vesting date.