Matt Brandwein - Jan 31, 2023 Form 4 Insider Report for Postal Realty Trust, Inc. (PSTL)

Role
SVP & Chief Accounting Officer
Signature
/s/ Jie Chai, attorney-in-fact
Stock symbol
PSTL
Transactions as of
Jan 31, 2023
Transactions value $
$169,996
Form type
4
Date filed
2/2/2023, 06:41 PM
Previous filing
Jan 4, 2023
Next filing
Feb 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PSTL Class A common stock Options Exercise +2.78K +4.59% 63.4K Jan 31, 2023 Direct F1, F2
transaction PSTL Class A common stock Tax liability -1.51K -2.38% 61.9K Jan 31, 2023 Direct F2
transaction PSTL Class A common stock Award $170K +11.2K +18.15% $15.13 73.1K Jan 31, 2023 Direct F3, F4
transaction PSTL Class A common stock Award $0 +4.79K +6.55% $0.00 77.9K Jan 31, 2023 Direct F5
transaction PSTL Class A common stock Award $0 +11.2K +14.42% $0.00 89.2K Jan 31, 2023 Direct F6
transaction PSTL Class A common stock Tax liability $0 -1.58K -1.77% $0.00 87.6K Feb 1, 2023 Direct F7

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 Restricted Stock Units Options Exercise -2.78K -28.45% 6.99K Jan 31, 2023 Class A common stock 2.78K Direct F1, F8
transaction PSTL Restricted Stock Units Award +4.79K +68.54% 11.8K Jan 31, 2023 Class A common stock 4.79K Direct F9, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As previously reported, on March 20, 2020, the Reporting Person was granted 3,916 performance-based restricted stock units (the "RSUs"), and, depending on the level of achievement of certain performance-based hurdles during the three-year performance period ended on December 31, 2022 (the "Measurement Period"), the actual number of RSUs earned could range from 50% to 150% of the target RSUs. On January 31, 2023, 2,780 RSUs vested based on the achievement of certain performance goals during the Measurement Period after the Corporate Governance and Compensation Committee of the Board of Directors of Postal Realty Trust, Inc. (the "Issuer") certified the Reporting Person's achievement relative to the applicable performance objectives during the Measurement Period and approved the vesting of the RSUs with respect to these shares.
F2 In accordance with the Issuer's 2019 Equity Incentive Plan (the "Plan"), Performance Units (as defined in the Plan) convert into the Issuer's Class A common stock on a one-for-one basis.
F3 Reflects a grant of restricted shares of Class A common stock of the Issuer in lieu of cash compensation that vested 100% on the date of grant.
F4 The price of the securities acquired by the Reporting Person is based on the volume weighted average price of the Issuer's Class A common stock for the 10 trading days immediately preceding January 31, 2022, which was $15.1309.
F5 Reflects a grant of restricted shares of the Issuer's Class A common stock that vest ratably on the first, second and third anniversaries of February 1, 2023, subject to the Reporting Person's continued service as an employee through the applicable vesting date.
F6 Reflects a grant of restricted shares of the Issuer's Class A common stock that vest on the eighth anniversary of February 1, 2023, subject to certain conditions.
F7 Reflects shares withheld to satisfy tax withholding obligation in connection with the partial vesting of a restricted stock award granted on February 11, 2021 and January 31, 2022.
F8 Each RSU represents a contingent right to receive shares of the Issuer's Class A common stock.
F9 The Reporting Person may earn up to 200% of the RSUs granted.
F10 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.