Easterly Government Properties (DEA) EVP gains 245 LTIP Units in award

Rhea-AI Filing Summary

Easterly Government Properties EVP Michael P. Ibe received a grant of 245 LTIP Units in Easterly Government Properties LP as long-term incentive compensation under the 2015 Equity Incentive Plan. These units were earned after performance hurdles for the period from January 3, 2023 through December 31, 2025 were achieved, bringing his total LTIP Units to 13,345.

Vested LTIP Units may be converted into common partnership units, which can then be redeemed for cash equal to the fair market value of a share of common stock, or, at the issuer’s election, for one share of common stock per unit. Conversion generally is not permitted without issuer consent until two years after grant, and the conversion and redemption rights do not have expiration dates.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ibe Michael P.

(Last) (First) (Middle)

C/O EASTERLY GOVERNMENT PROPERTIES, INC.

2001 K STREET NW, SUITE 775 NORTH

(Street)

WASHINGTON DC 20006

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Easterly Government Properties, Inc. [ DEA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP - Dev & Acquisitions

3. Date of Earliest Transaction (Month/Day/Year)
02/18/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LTIP Units(1)	(2)	02/18/2026		A		245		(2)(3)	(2)	Common Stock	245	$0	13,345(3)	D

Explanation of Responses:

1. Represents additional 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"), which were earned upon the determination by the Issuer's compensation committee that the performance vesting hurdles had been achieved.

2. 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.

3. The total number of derivative securities represents the aggregate of all LTIP Units earned by the reporting person pursuant to the LTIP Unit Award, including LTIP Units earned on January 20, 2026. LTIP Units vested when earned.

	/s/ Franklin V. Logan, Attorney-in-fact for Michael P. Ibe	02/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did DEA executive Michael P. Ibe report on this Form 4?

Michael P. Ibe reported acquiring 245 LTIP Units as long-term incentive compensation. These units were granted under Easterly Government Properties’ 2015 Equity Incentive Plan after performance hurdles for January 3, 2023 through December 31, 2025 were determined to have been achieved.

How many LTIP Units does DEA executive Michael P. Ibe hold after this award?

After this award, Michael P. Ibe holds a total of 13,345 LTIP Units. This figure represents the aggregate of all LTIP Units earned under the LTIP Unit Award, including those earned on January 20, 2026, which vested when earned according to the disclosure.

What performance period was used to earn the 245 LTIP Units at Easterly Government Properties (DEA)?

The 245 LTIP Units were earned based on Easterly Government Properties’ performance from January 3, 2023 through December 31, 2025. The compensation committee determined the performance vesting hurdles were achieved, which triggered the earning of these LTIP Units as long-term incentive compensation.

How can LTIP Units at Easterly Government Properties (DEA) be converted and redeemed?

Each vested LTIP Unit may be converted into a common unit of limited partnership interest in the operating partnership. Each common unit can then be redeemed for cash equal to the fair market value of one common share, or, at the issuer’s election, for one share of common stock instead.

Are there timing restrictions on converting DEA LTIP Units into common units and stock?

LTIP Units are generally not convertible without the issuer’s consent until two years from the grant date. Once vested, the rights to convert LTIP Units into common units and to redeem common units for cash or stock do not have expiration dates, according to the disclosure.

What plan governs the LTIP Unit award granted to DEA executive Michael P. Ibe?

The LTIP Unit award was granted under Easterly Government Properties’ 2015 Equity Incentive Plan. The award functions as long-term incentive compensation, with LTIP Units subject to performance vesting hurdles and potential later conversion into common units and ultimately cash or common stock.