Robert B. Klein - Jan 31, 2023 Form 4 Insider Report for Postal Realty Trust, Inc. (PSTL)

Role: Chief Financial Officer
Signature: /s/ Jie Chai, attorney-in-fact
Stock symbol: PSTL
Transactions as of: Jan 31, 2023
Transactions value $: $691,452
Form type: 4
Date filed: 2/2/2023, 06:41 PM
Previous filing: Jan 4, 2023
Next filing: Jun 9, 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	PSTL	LTIP Units	Award	$691K	+45.7K		$15.13	45.7K	Jan 31, 2023	Class A common stock	45.7K		Direct	F1, F2, F3, F4
transaction	PSTL	LTIP Units	Award		+11.4K	+24.86%		57.1K	Jan 31, 2023	Class A common stock	11.4K		Direct	F1, F2, F3, F4, F5
transaction	PSTL	Restricted Stock Units	Award		+11.4K	+59.84%		30.3K	Jan 31, 2023	Class A common stock	11.4K		Direct	F6, F7

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

Explanation of Responses:

Id	Content
F1	The LTIP Units are a class of limited partnership units of Postal Realty LP (the "Operating Partnership").
F2	Following the occurrence of certain events and upon vesting, the LTIP Units are convertible by Postal Realty Trust, Inc. (the "Issuer") into an equivalent number of units of the Operating Partnership ("OP Units"). OP Units are redeemable by the Reporting Person for cash or, at the election of the Issuer, shares of Class A common stock of the Issuer on a one-for-one basis or the cash value of such shares. LTIP Units do not have expiration dates.
F3	Reflects LTIP Unit grants in lieu of cash compensation that vest on the eighth anniversary of February 1, 2023, subject to certain conditions.
F4	The LTIP Units were granted in lieu of cash compensation. The price of the securities acquired by the Reporting Person is based on the average price of the Issuer's Class A common stock for the 10 trading days immediately preceding January 31, 2023, which was $15.1309.
F5	The LTIP Units will vest ratably on the first, second and third anniversaries of February 1, 2023, subject to continued employment with the Issuer.
F6	The Reporting Person may earn up to 200% of the RSUs granted.
F7	The RSUs are market-based awards and are subject to and will vest upon achievement of certain performance-based hurdles and continued employment with the Issuer during the three-year performance period ending on December 31, 2025. Upon vesting, the RSUs that vest will be settled in shares of the Issuer's Class A common stock and the Reporting Person will be entitled to receive the distributions that would have been paid with respect to each share of the Issuer's Class A common stock received upon settlement on or after the date the RSUs were initially granted.