Devin Ignatius Murphy - Aug 4, 2022 Form 4 Insider Report for Phillips Edison & Company, Inc. (PECO)

Role: President
Signature: /s/ Jennifer Robison, Attorney-in-Fact
Stock symbol: PECO
Transactions as of: Aug 4, 2022
Transactions value $: $0
Form type: 4
Date filed: 8/5/2022, 04:18 PM
Previous filing: May 6, 2022
Next filing: Sep 22, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Ownership	Footnotes
transaction	PECO	Class B Units	Options Exercise	$0	-11.2K	-100%	$0.00^*	0	Aug 4, 2022	Common Stock	11.2K	Direct	F1, F2
transaction	PECO	OP Units	Options Exercise	$0	+11.2K	+4.9%	$0.00	241K	Aug 4, 2022	Common Stock	11.2K	Direct	F1, F2
holding	PECO	OP Units						378K	Aug 4, 2022	Common Stock	378K	By DJM Investments LLC	F1

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

Explanation of Responses:

Id	Content
F1	Limited partnership interests ("OP Units") in Phillips Edison Grocery Center Operating Partnership I, L.P., a Delaware limited partnership ("PECO OP") are exchangeable, at the election of the holder, for cash equal to the fair market value of one share of the Issuer's Common Stock or, at the option of PECO OP, shares of the Issuer's Common Stock on a one-for-one basis, and have no expiration date.
F2	Represents the conversion of vested Class B Units of limited partnership interests ("Class B Units") in PECO OP previously issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs, into OP Units in PECO OP. At issuance, the Class B Units did not have full parity with the OP Units, but upon achieving parity with the OP Units under the PECO OP's partnership agreement, based upon capital account balance per unit, and upon satisfaction of applicable vesting conditions, the Class B Units convert to OP Units on a one-for-one basis. The Class B Units have no expiration date.

Content

Limited partnership interests ("OP Units") in Phillips Edison Grocery Center Operating Partnership I, L.P., a Delaware limited partnership ("PECO OP") are exchangeable, at the election of the holder, for cash equal to the fair market value of one share of the Issuer's Common Stock or, at the option of PECO OP, shares of the Issuer's Common Stock on a one-for-one basis, and have no expiration date.

Represents the conversion of vested Class B Units of limited partnership interests ("Class B Units") in PECO OP previously issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs, into OP Units in PECO OP. At issuance, the Class B Units did not have full parity with the OP Units, but upon achieving parity with the OP Units under the PECO OP's partnership agreement, based upon capital account balance per unit, and upon satisfaction of applicable vesting conditions, the Class B Units convert to OP Units on a one-for-one basis. The Class B Units have no expiration date.