Easterly Government Properties (DEA) EVP granted LTIP unit awards with long-term vesting

Rhea-AI Filing Summary

Easterly Government Properties disclosed that executive vice president, general counsel and secretary Franklin V. Logan received new equity-based awards in the form of LTIP Units of Easterly Government Properties LP on January 5, 2026. One grant covers 8,519 LTIP Units and another covers 6,724 LTIP Units, both reported at a price of $0 as incentive awards.

The 8,519 LTIP Units, and the common units of limited partnership interest they can convert into, are scheduled to vest on December 31, 2028, subject to his continued employment. The 6,724 LTIP Units 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 vested LTIP Unit may be converted into a common unit, which can then be redeemed for cash equal to the fair market value of a share of Easterly’s common stock, or, at the company’s election, exchanged for one share of common stock. The rights to convert earned and vested LTIP Units and redeem common units 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

OMB APPROVAL

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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^*

Logan Franklin V.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, GC & Secretary

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		8,519		(1)(2)	(2)	Common Stock	8,519	$0	8,519	D
LTIP Units(3)	(2)	01/05/2026		A		6,724		(2)(3)	(2)	Common Stock	6,724	$0	6,724	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, and 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	01/07/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did Easterly Government Properties (DEA) report?

Easterly Government Properties reported that EVP, general counsel and secretary Franklin V. Logan was granted 8,519 LTIP Units and a separate award of 6,724 LTIP Units in Easterly Government Properties LP on January 5, 2026.

At what price were the LTIP Units granted to the Easterly (DEA) executive?

Both LTIP Unit awards to Franklin V. Logan were reported at a grant price of $0 per LTIP Unit, reflecting that they are equity incentive awards rather than open-market purchases.

When do the 8,519 LTIP Units for the Easterly (DEA) executive vest?

The 8,519 LTIP Units granted to Franklin V. Logan, and the common units into which they may be converted, will vest on December 31, 2028, subject to his continued employment with Easterly Government Properties.

What are the vesting and performance conditions on the 6,724 LTIP Units at Easterly (DEA)?

The 6,724 LTIP Units will vest on the fifth anniversary of the grant date, but only to the extent the units are earned based on specified performance hurdles achieved before the eighth anniversary and the executive remains employed with the company.

How can Easterly (DEA) LTIP Units be converted and ultimately exchanged for common stock?

Each LTIP Unit may be converted, at the holder’s election and subject to tax allocation conditions, into a Common Unit. Each Common Unit can then be redeemed for cash equal to the fair market value of a share of Easterly’s common stock, or the company may instead deliver one share of common stock per Common Unit.

Do the conversion and redemption rights on Easterly (DEA) LTIP Units expire?

The rights to convert earned and vested LTIP Units into Common Units and to redeem those Common Units for cash or shares do not have expiration dates, according to the disclosure.