Darrell W. Crate - 04 Oct 2023 Form 4 Insider Report for Easterly Government Properties, Inc. (DEA)

Role
Chairman, Director
Signature
/s/ Franklin V. Logan, Attorney-in-fact for Darrell W. Crate
Issuer symbol
DEA
Transactions as of
04 Oct 2023
Net transactions value
$0
Form type
4
Filing time
06 Oct 2023, 16:13:57 UTC
Previous filing
19 Jan 2023
Next filing
14 Dec 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DEA Common Stock Conversion of derivative security $0 +83,401 +10789% $0.000000 84,174 04 Oct 2023 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 DEA LTIP Units Conversion of derivative security $0 -18,411 -100% $0.000000* 0 04 Oct 2023 Common Stock 18,411 Direct F2, F3
transaction DEA LTIP Units Conversion of derivative security $0 -10,662 -100% $0.000000* 0 04 Oct 2023 Common Stock 10,662 Direct F3, F4
transaction DEA LTIP Units Conversion of derivative security $0 -31,203 -94% $0.000000 1,914 04 Oct 2023 Common Stock 31,203 Direct F3, F5
transaction DEA LTIP Units Conversion of derivative security $0 -23,125 -100% $0.000000* 0 04 Oct 2023 Common Stock 23,125 Direct F3, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 83,401 LTIP units ("LTIP Units") in Easterly Government Properties LP (the "Partnership"), of which the Issuer is the sole general partner, were exchanged for an equal number of common units of limited partnership interest in the Partnership ("Common Units"), which were subsequently redeemed for an equal number of shares of the Issuer's common stock, par value $0.01 per share ("Common Stock").
F2 Represents LTIP Units granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, as amended, subject to certain performance vesting hurdles, which were earned based on the Issuer's performance from January 4, 2018 through December 31, 2020.
F3 Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be exchanged, at the election of either the holder or the Partnership, into a Common Unit. Each Common 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 elect to acquire each Common Unit so presented for one share of Common Stock. LTIP Units are generally not convertible without the consent of the Issuer until two years from the grant date. These redemption rights have no expiration date.
F4 Represents LTIP Units granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, as amended, subject to certain performance vesting hurdles, which were earned based on the Issuer's performance from January 2, 2019 through December 31, 2020.
F5 Represents LTIP Units granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, as amended, subject to certain service based conditions and/or performance vesting hurdles, which vested and/or were earned based on the Issuer's performance from January 3, 2020 through December 31, 2022.
F6 Represents LTIP Units granted pursuant to the Issuer's 2015 Equity Incentive Plan, as amended, on December 19, 2019.