Executive at Easterly Government (NYSE: DEA) granted 1,120 LTIP units
Rhea-AI Filing Summary
Easterly Government Properties, Inc. reported that its EVP, General Counsel and Secretary, Franklin V. Logan, received an award of 1,120 LTIP Units on January 20, 2026 as long‑term incentive compensation. The LTIP Units were granted under the company’s 2015 Equity Incentive Plan and were tied to performance hurdles based on the company’s results from January 3, 2023 through December 31, 2025, with a portion earned after the compensation committee determined those hurdles had been achieved.
Each vested LTIP Unit can be converted into a common unit of limited partnership interest in Easterly Government Properties LP and then redeemed, at the holder’s election, for cash equal to the fair market value of one share of common stock, while the company may choose instead to deliver one share of common stock per unit. LTIP Units generally are not convertible without the company’s consent until two years from grant, and the rights to convert and redeem do not have expiration dates.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 1,120 | $0.00 | -- |
Footnotes (1)
- Represents LTIP Units in Easterly Government Properties LP (the "Operating Partnership"), of which the Issuer is the general partner, that were granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, subject to certain performance vesting hurdles based on the Issuer's performance from January 3, 2023 through December 31, 2025 ("LTIP Unit Award"), and a portion of which were earned upon the determination by the Issuer's compensation committee that the performance vesting hurdles had been achieved. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in the Operating Partnership (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. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The rights to convert vested LTIP Units into Common Units and redeem Common Units do not have expiration dates. The total number of derivative securities represents the aggregate of all LTIP Units earned by the reporting person pursuant to the LTIP Unit Award. LTIP Units vested when earned.