Parilee Edison Wang - Apr 30, 2024 Form 4 Insider Report for Phillips Edison & Company, Inc. (PECO)

Role
Director
Signature
/s/ Jennifer Robison, Attorney-in-Fact
Stock symbol
PECO
Transactions as of
Apr 30, 2024
Transactions value $
$0
Form type
4
Date filed
5/2/2024, 04:33 PM
Previous filing
Jun 30, 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 B Units Award $0 +3.36K $0.00 3.36K Apr 30, 2024 Common Stock 3.36K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the grant of Class B Units of limited partnership interests ("Class B Units") in Phillips Edison Grocery Center Operating Partnership I, L.P., a Delaware limited partnership ("PECO OP"). At issuance, the Class B Units do not have full parity with common units of limited partnership interest in PECO OP ("OP Units") with respect to liquidating distributions, 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 and achieving full parity with OP Units, the Class B Units convert into an equal number of OP Units. The Class B Units have no expiration date.
F2 OP Units 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 and are not subject to vesting.
F3 Represents Class B Units that will vest in full on the earlier of (i) the first anniversary of the date of grant, or (ii) on the date of the next annual meeting of stockholders that is at least 50 weeks after the immediately preceding year's annual meeting, subject to continued service through the applicable vesting date.