Easterly Government Properties (DEA) CEO awarded new LTIP units in Form 4 filing

Rhea-AI Filing Summary

Easterly Government Properties, Inc. reported that its President & CEO and director, Darrell W. Crate, received grants of long-term incentive partnership (LTIP) units in Easterly Government Properties LP on January 5, 2026 under the company’s 2024 Equity Incentive Plan. One award covers 48,685 LTIP Units that will vest on December 31, 2028, subject to his continued employment. A second award covers 109,265 LTIP Units, which will vest on the fifth anniversary of the grant date, only to the extent performance hurdles are achieved by the eighth anniversary and he remains employed. Each LTIP Unit may be converted into a common partnership unit and then redeemed for either cash equal to the fair market value of one share of Easterly common stock or, at the issuer’s election, for one share of common stock.

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^*

Crate Darrell W

(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)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/05/2026

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)	01/05/2026		A		48,685		(1)(2)	(2)	Common Stock	48,685	$0	48,685	D
LTIP Units(3)	(2)	01/05/2026		A		109,265		(2)(3)	(2)	Common Stock	109,265	$0	109,265	D

Explanation of Responses:

1. Represents LTIP Units in Easterly Government Properties LP (the "Operating Partnership"), of which the Issuer is the general partner, granted pursuant to the Issuer's 2024 Equity Incentive Plan (the "Plan"). The LTIP Units, and the common units of limited partnership interest in the Operating Partnership (each, a "Common Unit") into which such LTIP Units may be converted, will vest on December 31, 2028, subject to the Reporting Person's continued employment.

2. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each LTIP Unit may be converted, at the election of the holder, into 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. The rights to convert earned and vested LTIP Units into Common Units and redeem Common Units do not have expiration dates.

3. Represents LTIP Units in the Operating Partnership granted pursuant to the Plan. The LTIP Units, and the Common Units into which such LTIP Units may be converted, will vest on the fifth anniversary of the grant date, subject to the Reporting Person's continued employment with the Company, and, in accordance with the terms of the award, only to the extent such LTIP Units are earned based on the achievement of specified performance hurdles prior to the eighth anniversary of the grant date.

	/s/ Franklin V. Logan, Attorney-in-fact for Darrell W. Crate	01/07/2026
	** Signature of Reporting Person	Date
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FAQ

What executive equity awards were reported for Easterly Government Properties (DEA)?

The filing reports that President & CEO and director Darrell W. Crate received two grants of LTIP Units in Easterly Government Properties LP on January 5, 2026 under the 2024 Equity Incentive Plan.

How many LTIP Units did Darrell W. Crate receive in the latest Form 4 for DEA?

Darrell W. Crate received 48,685 LTIP Units in one grant and 109,265 LTIP Units in a second grant, both reported as directly owned derivative securities.

When do the reported LTIP Units for DEA’s CEO vest?

The 48,685 LTIP Units vest on December 31, 2028, subject to continued employment. The 109,265 LTIP Units vest on the fifth anniversary of the grant date, subject to continued employment and the achievement of specified performance hurdles by the eighth anniversary.

How can the LTIP Units reported for DEA be settled in Easterly common stock or cash?

Each LTIP Unit may be converted into a common partnership unit. Each such common unit may then be redeemed for cash equal to the fair market value of one share of Easterly’s common stock, or the issuer may elect instead to deliver one share of common stock per unit.

Do the conversion and redemption rights on DEA’s reported LTIP Units have an expiration date?

The filing states that the rights to convert earned and vested LTIP Units into common units and to redeem those common units for cash or common stock do not have expiration dates.

Are the LTIP Unit awards to DEA’s CEO time-based, performance-based, or both?

The 48,685 LTIP Units are time-based, vesting on a set date with continued employment. The 109,265 LTIP Units include both time and performance conditions, vesting on the fifth anniversary only to the extent specified performance hurdles are met before the eighth anniversary while employment continues.