Postal Realty Trust, Inc. Announces Chief Financial Officer Transition

Rhea-AI Summary

Postal Realty Trust (NYSE: PSTL), a REIT managing over 2,150 USPS-leased properties, announced the resignation of CFO Robert Klein, who is departing to join a private real estate company. Jeremy Garber, the company's President, Treasurer and Secretary, will serve as interim CFO while a search for a permanent replacement is conducted. Klein will initially remain as an employee and later transition to a consulting role to ensure smooth handover of responsibilities. Garber, who has been with PSTL since its founding and previously served as Principal Financial Officer before Klein's 2021 appointment, will oversee the transition. Klein will remain fully engaged through Q2 2025 close, earnings announcement, and Form 10-Q filing before his departure.

Positive

• Jeremy Garber has previous experience as Principal Financial Officer and was instrumental in preparing the company for public markets
• Robert Klein will stay on initially as employee then consultant to ensure smooth transition
• Company maintains strong balance sheet and valued credit partners
• Klein will remain through Q2 2025 financial reporting

Negative

• Loss of experienced CFO who built robust financial reporting processes
• Potential disruption in financial leadership during transition period
• Need to conduct search and onboard new permanent CFO

Jeremy Garber Will Serve As Interim Chief Financial Officer

CEDARHURST, N.Y., June 18, 2025 (GLOBE NEWSWIRE) -- Postal Realty Trust, Inc. (NYSE: PSTL) (the “Company”), an internally managed real estate investment trust that owns and manages over 2,150 properties leased primarily to the United States Postal Service (the “USPS”), ranging from last-mile post offices to industrial facilities, announced today that Robert Klein has notified the Company of his intention to resign as Chief Financial Officer in order to accept a position with a privately-held real estate company. Jeremy Garber, the Company’s President, Treasurer and Secretary will serve as the Company’s interim Chief Financial Officer while the Company conducts a search process for a permanent successor. Mr. Klein will initially continue as an employee of the Company and subsequently work as a consultant to the Company working closely with Mr. Garber and the Company leadership team to ensure a smooth transition of Chief Financial Officer responsibilities.

Mr. Garber has been with the Company since its founding and was instrumental in preparing the company for the public markets. Prior to Mr. Klein’s hiring in 2021, Mr. Garber served as the Principal Financial Officer of the Company and his responsibilities included oversight of the Company’s accounting and finance department.

"On behalf of the Board of Directors and the entire Company, I want to thank Rob for his contributions during his tenure including his role in building a high performing accounting and finance team, developing robust financial reporting processes and positioning us with a strong balance sheet and valued credit partners. We wish him well personally," commented Andrew Spodek, Chief Executive Officer of the Company.

In conjunction with Mr. Klein’s transition, the Company and Mr. Klein have entered into a Transition Agreement during which Mr. Klein will be fully engaged with the Company’s second quarter close, earnings announcement and the signing and filing of our quarterly financial report on Form 10-Q for the period ending June 30, 2025.

Mr. Klein commented, “I am proud of what we have accomplished during my time with Postal, and I thank Andrew and the entire Postal Realty team for the opportunity to serve as CFO over the past four and a half years. Postal Realty has a deep and talented accounting, finance, and investor relations team. I’m grateful to have worked alongside each of them to help put the Company in a strong financial position and I am committed to ensuring a smooth transition.”

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements.” Forward-looking statements include statements identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements, including, among others, statements regarding the Company’s management changes are based on the Company’s beliefs, assumptions and expectations of its future financial and operating plans, taking into account the information currently available to the Company. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Information about potential risks and uncertainties that could affect the Company’s business and financial results is set forth under “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

About Postal Realty Trust, Inc.

Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns and manages over 2,150 properties leased primarily to the USPS. More information is available at postalrealtytrust.com.

Contact:

Investor Relations and Media Relations

Email: Investorrelations@postalrealtytrust.com

Phone: (516) 232-8900

FAQ

Who is the new interim CFO of Postal Realty Trust (PSTL)?

Jeremy Garber, the company's current President, Treasurer and Secretary, will serve as interim CFO while the company searches for a permanent successor.

Why is Robert Klein leaving his position as CFO of PSTL?

Robert Klein is resigning to accept a position with a privately-held real estate company.

How long was Robert Klein CFO at Postal Realty Trust?

Robert Klein served as CFO for approximately four and a half years, having joined the company in 2021.

What is the transition plan for PSTL's CFO position?

Klein will initially continue as an employee, then work as a consultant, working closely with Jeremy Garber and the leadership team. He will remain through Q2 2025 financial reporting.

How many properties does Postal Realty Trust (PSTL) manage?

Postal Realty Trust owns and manages over 2,150 properties leased primarily to the United States Postal Service.