Meghan G. Baivier - 03 Jan 2023 Form 4 Insider Report for Easterly Government Properties, Inc. (DEA)

Role
EVP, CFO & COO
Signature
/s/ Franklin V. Logan, Attorney-in-fact for Meghan G. Baivier
Issuer symbol
DEA
Transactions as of
03 Jan 2023
Net transactions value
$0
Form type
4
Filing time
05 Jan 2023, 15:14:23 UTC
Previous filing
20 Jan 2022
Next filing
19 Jan 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 DEA LTIP Units Award $0 +30,708 $0.000000 30,708 03 Jan 2023 Common Stock 30,708 Direct F1, F2
transaction DEA LTIP Units Award $0 +5,147 $0.000000 5,147 03 Jan 2023 Common Stock 5,147 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents LTIP Units in Easterly Government Properties LP (the "Operating Partnership"), of which the Issuer is the general partner, granted pursuant to the Issuer's 2015 Equity Incentive Plan, as amended (the "Plan"). The LTIP Units, and the common units of limited partnership interest in the Operating Partnership (each, a "Common Unit") into which such LTIP Units may be converted, will vest on December 31, 2025 in accordance with the terms of the award and subject to the reporting person's continued employment.
F2 Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of the holder, into a Common Unit. Each Common Unit acquired upon conversion of an LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the fair market value of a share of the Issuer's Common Stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert vested LTIP Units into Common Units and redeem Common Units do not have expiration dates.
F3 Represents the maximum number of LTIP Units in the Operating Partnership granted as long-term incentive compensation pursuant to the Plan that may be earned based on the Issuer's performance through December 31, 2025. Subject to the reporting person's continued employment, earned LTIP Units will vest when earned following the end of the performance period.