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

Role
Chief Operating Officer & EVP
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, 04:19 PM
Previous filing
May 6, 2022
Next filing
Jan 4, 2023

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% $0.00 692 Aug 4, 2022 Common Stock 692 Direct F1, F2, F3
transaction PECO OP Units Options Exercise $0 +692 +0.54% $0.00 129K Aug 4, 2022 Common Stock 692 Direct F1, F2
* 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 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.