Barry Lefkowitz - Oct 20, 2023 Form 4 Insider Report for Postal Realty Trust, Inc. (PSTL)

Role: Director
Signature: /s/ Jie Chai, attorney-in-fact
Stock symbol: PSTL
Transactions as of: Oct 20, 2023
Transactions value $: $0
Form type: 4
Date filed: 10/24/2023, 04:39 PM
Previous filing: Jun 13, 2023
Next filing: May 21, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PSTL	Class A common stock	Conversion of derivative security		+2.67K	+10.93%		27.1K	Oct 20, 2023	Direct	F1

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	Conversion of derivative security		-2.67K	-11.44%		20.7K	Oct 20, 2023	Class A common stock	2.67K		Direct	F1, F2
transaction	PSTL	OP Units	Conversion of derivative security		+2.67K			2.67K	Oct 20, 2023	Class A common stock	2.67K		Direct	F1, F3
transaction	PSTL	OP Units	Conversion of derivative security		-2.67K	-100%		0	Oct 20, 2023	Class A common stock	2.67K		Direct	F1, F3

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

Explanation of Responses:

Id	Content
F1	2,673 of the reporting person's long term-incentive units ("LTIP Units") in Postal Realty LP (the "Operating Partnership"), of which Postal Realty Trust, Inc. (the "Issuer") is the general partner, were converted into common units of limited partnership interests ("OP Units") in the Operating Partnership by the reporting person and the OP Units were redeemed for an equal number of shares of the Issuer's Class A common stock in accordance with the Operating Partnership's Partnership Agreement.
F2	Represents LTIP Units in the Operating Partnership issued as incentive compensation pursuant to the Issuer's director compensation program. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of the Operating Partnership or the holder, into an OP Unit. Each OP Unit acquired upon conversion of an LTIP Unit may be presented for redemption for, 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 have no expiration date.
F3	Represents OP Units in the Operating Partnership. Each OP Unit may be presented for redemption for, 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. OP Units have no expiration date.