Robert B. Klein - Feb 12, 2024 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
Feb 12, 2024
Transactions value $
$612,551
Form type
4
Date filed
2/14/2024, 07:49 PM
Previous filing
Feb 6, 2024
Next filing
Mar 6, 2024

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 $613K +43K +75.43% $14.23 100K Feb 12, 2024 Class A common stock 43K Direct F1, F2, F3, F4
transaction PSTL LTIP Units Award +10.9K +10.86% 111K Feb 12, 2024 Class A common stock 10.9K Direct F1, F2, F3, F4, F5
transaction PSTL Restricted Stock Units Award +13.3K +64.86% 33.8K Feb 12, 2024 Class A common stock 13.3K Direct F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 Postal Realty Trust, Inc. (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.
F2 Reflects LTIP Unit grants in lieu of cash compensation that vest on the eighth anniversary of February 1, 2024, subject to certain conditions.
F3 The LTIP Units are a class of limited partnership units of the Operating Partnership.
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 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.
F5 The LTIP Units will vest ratably on the first, second and third anniversaries of February 1, 2024, 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, 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.