Jeremy Garber - Feb 12, 2024 Form 4 Insider Report for Postal Realty Trust, Inc. (PSTL)

Role: President and Treasurer
Signature: /s/ Jie Chai, attorney-in-fact
Stock symbol: PSTL
Transactions as of: Feb 12, 2024
Transactions value $: $732,847
Form type: 4
Date filed: 2/14/2024, 07:48 PM
Previous filing: Feb 6, 2024
Next filing: Mar 18, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PSTL	Class A common stock	Award	$0	+13.4K	+6.03%	$0.00	237K	Feb 12, 2024	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	Award	$733K	+51.5K	+68.21%	$14.23	127K	Feb 12, 2024	Class A common stock	51.5K		Direct	F2, F3, F4, F5
transaction	PSTL	Restricted Stock Units	Award		+16.4K	+62.44%		42.8K	Feb 12, 2024	Class A common stock	16.4K		Direct	F6, F7

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

Explanation of Responses:

Id	Content
F1	Reflects a grant of restricted shares of Class A common stock of Postal Realty Trust, Inc. (the "Issuer") that vest ratably on the first, second and third anniversaries of February 1, 2024, subject to the Reporting Person's continued service as an employee through the applicable vesting date.
F2	Following the occurrence of certain events and upon vesting, the LTIP Units are convertible into an equivalent number of limited partnership units of Postal Realty LP (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, 2024, subject to certain conditions.
F4	The LTIP Units are a class of limited partnership units of the Operating Partnership.
F5	The LTIP Units were granted in lieu of cash compensation. 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 12, 2024, which was $14.2328.
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, 2026. 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.