Robert F. Myers - 31 Dec 2022 Form 4 Insider Report for Phillips Edison & Company, Inc. (PECO)

Role
Chief Operating Officer & EVP
Signature
/s/ Jennifer Robison, Attorney-in-Fact
Issuer symbol
PECO
Transactions as of
31 Dec 2022
Net transactions value
-$28,560
Form type
4
Filing time
04 Jan 2023, 15:41:13 UTC
Previous filing
05 Aug 2022
Next filing
17 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PECO Common Stock Tax liability $28,560 -897 -7.1% $31.84 11,800 01 Jan 2023 Direct F1
holding PECO Common Stock 544 31 Dec 2022 By IRA

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 -100% $0.000000* 0 31 Dec 2022 Common Stock 692 Direct F2, F3, F4
transaction PECO Class C Units Options Exercise $0 -8,145 -100% $0.000000* 0 31 Dec 2022 Common Stock 8,145 Direct F2, F3, F5
transaction PECO Class C Units Options Exercise $0 -8,145 -100% $0.000000* 0 31 Dec 2022 Common Stock 8,145 Direct F2, F3, F6
transaction PECO Class B Units Options Exercise $0 -3,300 -100% $0.000000* 0 01 Jan 2023 Common Stock 3,300 Direct F2, F7
transaction PECO Class B Units Options Exercise $0 -3,429 -33% $0.000000 6,857 01 Jan 2023 Common Stock 3,429 Direct F2, F7, F8
transaction PECO OP Units Options Exercise $0 +692 +0.54% $0.000000 129,998 31 Dec 2022 Common Stock 692 Direct F2, F3, F4
transaction PECO OP Units Options Exercise $0 +8,145 +6.3% $0.000000 138,143 31 Dec 2022 Common Stock 8,145 Direct F2, F3, F5
transaction PECO OP Units Options Exercise $0 +8,145 +5.9% $0.000000 146,288 31 Dec 2022 Common Stock 8,145 Direct F2, F3, F6
transaction PECO OP Units Options Exercise $0 +3,300 +2.3% $0.000000 149,588 01 Jan 2023 Common Stock 3,300 Direct F2, F7
transaction PECO OP Units Options Exercise $0 +3,429 +2.3% $0.000000 153,017 01 Jan 2023 Common Stock 3,429 Direct F2, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Common Stock surrendered to cover tax liability upon vesting of restricted stock units.
F2 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.
F3 Represents the vesting of earned Class C Units of limited partnership interests ("Class C Units") in PECO OP, previously issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. At issuance, the Class C Units were subject to vesting, and did not have full parity with the OP Units, but upon the occurrence of certain events described in PECO OP's partnership agreement, based upon capital account balance per unit, could over time achieve full parity with the OP Units for all purposes. Upon vesting, having previously achieved full parity with OP Units, the Class C Units were converted into an equal number of OP Units. The Class C Units have no expiration date.
F4 Represents the vesting of earned Class C Units issued in lieu of cash dividends accrued on the earned 2019-2021 Performance-Based LTIP Units.
F5 Represents the vesting of earned Class C Units issued based upon the Issuer's achievement of the performance metrics under the 2019-2021 Performance-Based LTIP.
F6 Represents the vesting of earned Class C Units issued based upon the Issuer's achievement of the NAV Modifier performance metrics under the 2019-2021 Performance-Based LTIP.
F7 Represents the vesting of 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. At issuance, the Class B Units were subject to vesting, and did not have full parity with the OP Units, but upon the occurrence of certain events described in PECO OP's partnership agreement, based upon capital account balance per unit, could over time achieve full parity with the OP Units for all purposes. Upon vesting, having previously achieved full parity with OP Units, the Class B Units were converted into an equal number of OP Units. The Class B Units have no expiration date.
F8 Represents the total Class B Units that have the same grant date, vesting provisions and other terms. These Class B Units will vest in increments of 3,429 units on January 1, 2024 and January 1, 2025.