John P. Caulfield - 31 Dec 2025 Form 4 Insider Report for Phillips Edison & Company, Inc. (PECO)

Role: CFO, EVP & Treasurer
Signature: /s/ Jennifer Robison, Attorney-in-Fact
Issuer symbol: PECO
Transactions as of: 31 Dec 2025
Net transactions value: $0
Form type: 4
Filing time: 05 Jan 2026, 16:33:22 UTC
Previous filing: 04 Mar 2025
Next filing: 06 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Caulfield John P	CFO, EVP & Treasurer	11501 NORTHLAKE DRIVE, CINCINNATI	/s/ Jennifer Robison, Attorney-in-Fact	05 Jan 2026	0001786866

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Ownership	Footnotes
transaction	PECO	Class C Units	Options Exercise	$0	-10,261	-100%	$0.000000	0	31 Dec 2025	Common Stock	10,261	Direct	F1, F2
transaction	PECO	Class C Units	Options Exercise	$0	-1,563	-100%	$0.000000	0	31 Dec 2025	Common Stock	1,563	Direct	F1, F2
transaction	PECO	OP Units	Options Exercise	$0	+10,261	+16%	$0.000000	76,458	31 Dec 2025	Common Stock	10,261	Direct	F1, F2
transaction	PECO	OP Units	Options Exercise	$0	+1,563	+2%	$0.000000	78,021	31 Dec 2025	Common Stock	1,563	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Limited partnership interests ("OP Units") in Phillips Edison Grocery Center Operating Partnership I, L.P., a Delaware limited partnership ("PECO OP") are exchangeable, at the election of the holder, for cash equal to the fair market value of one share of the Issuer's Common Stock or, at the option of PECO OP, shares of the Issuer's Common Stock on a one-for-one basis, and have no expiration date and are not subject to vesting.
F2	Represents the vesting, and conversion to OP Units, of Class C Units of limited partnership interests ("Class C Units") in PECO OP, previously issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. At issuance, the Class C Units were subject to vesting, and did not have full parity with OP Units, but upon the occurrence of certain events described in PECO OP's partnership agreement, based upon capital account balance per unit, could over time achieve full parity with the OP Units for all purposes. Upon vesting, having previously or concurrently achieved full parity with OP Units, the Class C Units were converted into an equal number of OP Units. The Class C Units have no expiration date.

Content

Limited partnership interests ("OP Units") in Phillips Edison Grocery Center Operating Partnership I, L.P., a Delaware limited partnership ("PECO OP") are exchangeable, at the election of the holder, for cash equal to the fair market value of one share of the Issuer's Common Stock or, at the option of PECO OP, shares of the Issuer's Common Stock on a one-for-one basis, and have no expiration date and are not subject to vesting.

Represents the vesting, and conversion to OP Units, of Class C Units of limited partnership interests ("Class C Units") in PECO OP, previously issued as long term incentive compensation pursuant to the Issuer's equity based compensatory programs. At issuance, the Class C Units were subject to vesting, and did not have full parity with OP Units, but upon the occurrence of certain events described in PECO OP's partnership agreement, based upon capital account balance per unit, could over time achieve full parity with the OP Units for all purposes. Upon vesting, having previously or concurrently achieved full parity with OP Units, the Class C Units were converted into an equal number of OP Units. The Class C Units have no expiration date.