Easterly Govt Pptys Inc SEC Filings

Easterly Government Properties reported Q3 2025 results. Total revenues were $86.2 million, up from $74.8 million a year ago, driven mainly by higher rental income of $82.2 million. Net income available to the company was $1.2 million, or $0.02 per diluted share, reflecting higher depreciation, operating costs, and interest expense, plus a $2.5 million impairment.

Through the first nine months, the company closed three acquisitions for $169.9 million and sold ICE – Otay for approximately $3.5 million. As of September 30, 2025, the portfolio was 97% leased across 92 wholly owned operating properties and 10 properties in a joint venture; operating cash flow for the nine months totaled $217.3 million.

Debt totaled $1.64 billion, including a $170.9 million draw on the 2024 revolving credit facility, $300.0 million of term loans, $1.03 billion of notes, and $152.9 million of mortgages. The quarterly dividend declared was $0.45 per share. The company effected a 1-for-2.5 reverse stock split on April 28, 2025, and reduced authorized shares to 80,000,000 on May 8, 2025.

Easterly Government Properties (DEA) furnished an Item 2.02 report announcing its results for the third quarter ended September 30, 2025. The company made a press release and a supplemental information package available and attached them as Exhibits 99.1 and 99.2.

A webcast and conference call to review third‑quarter performance is scheduled for 11:00 a.m. Eastern Time on October 27, 2025, with a live stream accessible via the Investor Relations section of the company’s website. The materials referenced are furnished, not filed, under the Exchange Act.

Darrell W. Crate, President & CEO and a director of Easterly Government Properties, Inc. (DEA), was granted 425,000 LTIP Units in the company’s operating partnership on 08/26/2025 under the 2024 Equity Incentive Plan. The LTIP Units vest on the fifth anniversary of the grant subject to continued service and will only be earned if specified performance hurdles are met before the eighth anniversary. Each LTIP Unit can be converted, subject to tax-related conditions, into a Common Unit that may be redeemed for cash equal to the fair market value of a share of the issuer’s common stock or, at the issuer’s election, exchanged for one share of common stock.

Michael P. Ibe, EVP - Development & Acquisitions and director of Easterly Government Properties (DEA), was granted 160,000 LTIP Units in the company’s operating partnership under the 2024 Equity Incentive Plan. The LTIP Units vest on the fifth anniversary of the grant subject to continued service and are earned only if specified performance hurdles are achieved prior to the eighth anniversary. Each LTIP Unit can be converted, subject to certain tax-related conditions, into a Common Unit that may be redeemed for cash equal to the fair market value of a share of the issuer’s common stock or, at the issuer’s election, exchanged for one share of common stock. The transaction is reported on Form 4.

William H. Binnie, a director of Easterly Government Properties, Inc. (DEA), was granted 80,000 LTIP units in the company\'s operating partnership on 08/26/2025. The award is reported as an acquisition at $0 and shows 80,000 units beneficially owned following the grant. The LTIP units vest on the fifth anniversary of the grant date subject to continued service and are earned only if specified performance hurdles are achieved prior to the eighth anniversary. Each LTIP unit, if allocated minimum capital account amounts for tax purposes, may be converted into a common unit and then redeemed for cash equal to the fair market value of a share of common stock or, at the issuer\'s election, exchanged for one share of common stock. The Form 4 was signed by an attorney-in-fact on 08/28/2025.

Allison E. Marino, EVP and CFO of Easterly Government Properties, Inc. (DEA), was granted 70,000 LTIP Units in the company's operating partnership on 08/26/2025, reported on Form 4 filed 08/28/2025. The LTIP Units vest on the fifth anniversary of the grant date subject to continued service and are earned only if specified performance hurdles are achieved before the eighth anniversary. Each LTIP Unit may be converted into a Common Unit (and Common Units may be redeemed for cash equal to the fair market value of a share or exchanged for shares at the issuer's election). Conversion and redemption rights do not expire.

Tara S. Innes received a grant of 20,000 LTIP Units in Easterly Government Properties LP under the company's 2024 Equity Incentive Plan. The LTIP Units were granted on 08/26/2025 and are conditioned on continued service and the achievement of specified performance hurdles; they vest on the fifth anniversary of the grant date and may only be earned based on performance measured through the eighth anniversary. Each LTIP Unit may, subject to tax allocation conditions, be converted into a Common Unit and then redeemed for cash equal to the fair market value of a share of the issuer's common stock or, at the issuer's election, exchanged for one share of common stock. The filing was signed by an attorney-in-fact on behalf of the reporting person on 08/28/2025.

Emil W. Henry Jr., a director of Easterly Government Properties, Inc. (DEA), was granted 20,000 LTIP Units in the company’s Operating Partnership on 08/26/2025. The LTIP Units were awarded under the 2024 Equity Incentive Plan and will vest on the fifth anniversary of the grant date only if the reporting person remains in service and performance hurdles are met before the eighth anniversary. Each earned LTIP Unit may be converted into a Common Unit (and then redeemed for cash equal to a share of common stock or exchanged for one share at the issuer’s election). The report was filed on 08/28/2025 by an attorney-in-fact.

Scott D. Freeman, a director of Easterly Government Properties, Inc. (DEA), was granted 20,000 LTIP Units in the company’s operating partnership. The award is a performance-based long-term incentive that vests on the fifth anniversary of the grant date only if specified performance hurdles are achieved prior to the eighth anniversary and the holder remains in service. Each LTIP Unit, subject to minimum tax-accounting allocations, can be converted at the holder’s election into a Common Unit and those Common Units may be redeemed for cash equal to the fair market value of a share of the issuer’s common stock or, at the issuer’s election, exchanged for one share of common stock. Following the reported grant, the reporting person beneficially owns 20,000 underlying shares (direct) with a reported price of $0.