Matt Brandwein - Feb 2, 2024 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
Feb 2, 2024
Transactions value $
$157,445
Form type
4
Date filed
2/6/2024, 07:16 PM
Previous filing
Feb 5, 2024
Next filing
Feb 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PSTL Class A common stock Options Exercise +1.62K +1.83% 90.1K Feb 2, 2024 Direct F1, F2
transaction PSTL Class A common stock Tax liability -$12.5K -882 -0.98% $14.22 89.2K Feb 2, 2024 Direct F2
transaction PSTL Class A common stock Award $170K +11.8K +13.28% $14.35 101K Feb 2, 2024 Direct F3, F4
transaction PSTL Class A common stock Award $0 +11.8K +11.72% $0.00 113K Feb 2, 2024 Direct F5

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 -3.24K -27.51% 8.54K Feb 2, 2024 Class A common stock 3.24K Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As previously reported, on February 11, 2021, the Reporting Person was granted 3,242 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, 2023 (the "Measurement Period"), the actual number of RSUs earned could range from 50% to 150% of the target RSUs. On February 2, 2024, 1,621 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 February 2, 2024, which was $14.3497.
F5 Reflects a grant of restricted shares of the Issuer's Class A common stock that vest on the eighth anniversary of February 1, 2024, subject to certain conditions.
F6 Each RSU represents a contingent right to receive shares of the Issuer's Class A common stock.