Andrew Spodek - 31 Jan 2022 Form 4 Insider Report for Postal Realty Trust, Inc. (PSTL)

Role: CEO and Director, Director, 10%+ Owner
Signature: /s/ Jie Chai, attorney-in-fact
Issuer symbol: PSTL
Transactions as of: 31 Jan 2022
Transactions value $: $1,748,003
Form type: 4
Filing time: 02 Feb 2022, 16:22:28 UTC
Previous filing: 18 Nov 2021
Next filing: 02 Feb 2023
SEC: View on sec.gov

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	$1.75M	+101K		$17.33	101K	31 Jan 2022	Class A common stock	101K		Direct	F1, F2, F3, F4
transaction	PSTL	LTIP Units	Award	$0	+17.5K		$0.00	17.5K	31 Jan 2022	Class A common stock	17.5K		Direct	F1, F2, F5
transaction	PSTL	Restricted Stock Units	Award	$0	+17.5K	+44.39%	$0.00	57.1K	31 Jan 2022	Class A common stock	17.5K		Direct	F6, F7

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

Explanation of Responses:

Id	Content
F1	The LTIP Units are a class of limited partnership units of Postal Realty, LP (the "Operating Partnership").
F2	Following the occurrence of certain events and upon vesting, the LTIP Units are convertible by the Issuer into an equivalent number of units of 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.
F3	Reflects LTIP Unit grants in lieu of cash compensation that vest on the eighth anniversary of February 1, 2022, subject to certain conditions.
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 average price of the Issuer's Class A common stock for the 10 trading days immediately preceding January 31, 2022, which was $17.3327.
F5	The LTIP Units will vest ratably on the first, second and third anniversaries of December 31, 2021, subject to continued employment with Postal Realty Trust, Inc. (the "Issuer")
F6	The Reporting Person may earn up to 150% of the Restricted Stock Units granted.
F7	The Restricted Stock Units are market-based awards and are subject to and will vest upon achievement of performance-based hurdles relating to the Issuer's absolute total stockholder return and continued employment with the Issuer during the period from the grant date through December 31, 2024. Upon vesting, the Restricted Stock Units 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 Restricted Stock Units were initially granted.