Jeremy Garber - Jan 31, 2025 Form 4 Insider Report for Postal Realty Trust, Inc. (PSTL)

Role: Pres., Treasurer & Secretary
Signature: /s/ Jeremy Garber
Stock symbol: PSTL
Transactions as of: Jan 31, 2025
Transactions value $: $1,134,312
Form type: 4
Date filed: 2/4/2025, 07:51 PM
Previous filing: Jan 3, 2025
Next filing: Feb 27, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PSTL	Class A common stock	Award	$0	+16.3K	+7.37%	$0.00	238K	Jan 31, 2025	Direct	F1
transaction	PSTL	Class A common stock	Tax liability	-$50.1K	-3.81K	-1.6%	$13.16	234K	Feb 3, 2025	Direct	F1, F2

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	$1.18M	+90.9K	+71.59%	$13.03	218K	Jan 31, 2025	Class A common stock	90.9K		Direct	F3, F4, F5, F6
transaction	PSTL	Restricted Stock Units	Disposed to Issuer	$0	-12.3K	-28.69%	$0.00	30.5K	Jan 31, 2025	Class A common stock	12.3K		Direct	F7

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

Explanation of Responses:

Id	Content
F1	Reflects a grant of restricted shares of Postal Realty Trust, Inc.'s (the "Issuer") Class A common stock that vest ratably on the first, second and third anniversaries of February 1, 2025, subject to the Reporting Person's continued service as an employee through the applicable vesting date.
F2	Reflects shares of the Issuer's Class A common stock withheld to satisfy a tax withholding obligation in connection with the vesting of a restricted stock awards granted to the reporting person on January 31, 2023 and February 12, 2024.
F3	Reflects LTIP Unit grants in lieu of cash compensation that vest on the eighth anniversary of February 1, 2025, subject to certain conditions.
F4	The LTIP Units are a class of limited partnership units of Postal Realty LP (the "Operating Partnership").
F5	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 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.
F6	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 January 31, 2025, which was $13.0284.
F7	Represents the forfeiture of all performance-based RSU's granted to the reporting person on January 31, 2022 due to certain performance-based hurdles related to the Issuer's absolute total stockholder return not being achieved.