Robert F. Myers - Dec 31, 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
Dec 31, 2022
Transactions value $
-$28,560
Form type
4
Date filed
1/4/2023, 03:41 PM
Previous filing
Aug 5, 2022
Next filing
Jan 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PECO Common Stock Tax liability -$28.6K -897 -7.06% $31.84 11.8K Jan 1, 2023 Direct F1
holding PECO Common Stock 544 Dec 31, 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% $0.00* 0 Dec 31, 2022 Common Stock 692 Direct F2, F3, F4
transaction PECO Class C Units Options Exercise $0 -8.15K -100% $0.00* 0 Dec 31, 2022 Common Stock 8.15K Direct F2, F3, F5
transaction PECO Class C Units Options Exercise $0 -8.15K -100% $0.00* 0 Dec 31, 2022 Common Stock 8.15K Direct F2, F3, F6
transaction PECO Class B Units Options Exercise $0 -3.3K -100% $0.00* 0 Jan 1, 2023 Common Stock 3.3K Direct F2, F7
transaction PECO Class B Units Options Exercise $0 -3.43K -33.34% $0.00 6.86K Jan 1, 2023 Common Stock 3.43K Direct F2, F7, F8
transaction PECO OP Units Options Exercise $0 +692 +0.54% $0.00 130K Dec 31, 2022 Common Stock 692 Direct F2, F3, F4
transaction PECO OP Units Options Exercise $0 +8.15K +6.27% $0.00 138K Dec 31, 2022 Common Stock 8.15K Direct F2, F3, F5
transaction PECO OP Units Options Exercise $0 +8.15K +5.9% $0.00 146K Dec 31, 2022 Common Stock 8.15K Direct F2, F3, F6
transaction PECO OP Units Options Exercise $0 +3.3K +2.26% $0.00 150K Jan 1, 2023 Common Stock 3.3K Direct F2, F7
transaction PECO OP Units Options Exercise $0 +3.43K +2.29% $0.00 153K Jan 1, 2023 Common Stock 3.43K 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.