Robert F. Myers - 04 Aug 2022 Form 4 Insider Report for Phillips Edison & Company, Inc. (PECO)

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	PECO	Class C Units	Options Exercise	$0	-692	-50%	$0.000000	692	04 Aug 2022	Common Stock	692		Direct	F1, F2, F3
transaction	PECO	OP Units	Options Exercise	$0	+692	+0.54%	$0.000000	129,306	04 Aug 2022	Common Stock	692		Direct	F1, F2

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

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 C Units of limited partnership interests ("Class C Units") in PECO OP. At issuance, the Class C 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 any applicable vesting conditions, the Class C Units convert to OP Units on a one-for-one basis. The Class C Units have no expiration date.
F3	Represents 692.13 unvested, earned Class C Units issued in lieu of cash dividends accrued on the NAV Modifier performance units under the 2019-2021 Performance-Based LTIP. The unvested Class C units will vest in full on December 31, 2022, subject to continued service with the Company.