Easterly Government Properties Grants 5.5K Shares to Director in Form 4 Filing

Rhea-AI Filing Summary

Easterly Government Properties (DEA) filed a Form 4 showing a routine equity grant to director William H. Binnie. On 06/18/2025 he received 5,499 post-split common shares under the company’s 2024 Equity Incentive Plan at $0.00 cost (transaction code A). The award will vest on the earlier of the first anniversary of the grant or the next annual shareholder meeting, contingent on his continued board service.

After the grant, Binnie’s direct beneficial ownership rose to 19,207 shares. Share counts already reflect the 1-for-2.5 reverse split completed on 04/28/2025, so no additional adjustment is required. The filing does not involve open-market purchases or sales, carries no immediate cash proceeds, and is unlikely to materially affect DEA’s share count or near-term earnings.

Positive

• Director equity award aligns incentives between board member and shareholders.
• Dilution is de minimis at less than 0.01% of shares outstanding.

Negative

• Minor dilution due to new share issuance, though impact is negligible.

Insights

Corporate Governance Expert

TL;DR: Standard director equity grant; aligns incentives, immaterial to float; neutral governance signal.

The grant is typical board compensation delivered in stock, encouraging alignment with shareholder interests. Vesting tied to one-year service is standard. At roughly 19 k shares total ownership, Binnie’s stake remains well below 1% of outstanding shares, so governance influence is unchanged. No red flags such as accelerated vesting or below-market pricing appear.

Securities Analyst

TL;DR: Small, non-cash insider award; no earnings or liquidity impact—neutral for valuation.

The 5,499-share issuance represents a fraction of DEA’s 97 m shares (pre-split basis). With zero exercise price, it marginally dilutes existing holders (<0.01%) but has no cash flow effect. Because it vests over one year and the grant size is minimal, I view it as not impactful to valuation models or near-term trading dynamics.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

BINNIE WILLIAM H

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

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
Common Stock(1)	06/18/2025		A		5,499	A	$0.00	19,207(2)	D

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

Explanation of Responses:

1. Represents shares of common stock granted under the Issuer's 2024 Equity Incentive Plan, which will vest upon the earlier of the first anniversary of the date of grant or the next annual stockholder meeting, subject to the Reporting Person's continued service as a director of the Issuer through such date.

2. Shares are reflected on a post-split basis in accordance with the 1-for-2.5 reverse stock split of the Issuer's issued and outstanding shares of common stock completed on April 28, 2025.

	/s/ Franklin V. Logan, Attorney-in-fact for William H. Binnie	06/23/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many DEA shares did director William H. Binnie receive?

He was granted 5,499 common shares on 06/18/2025.

What is William H. Binnie's total DEA ownership after the grant?

Following the award, he owns 19,207 shares directly.

Was the Form 4 transaction an open-market purchase?

No. It was a zero-cost equity grant under the 2024 Equity Incentive Plan.

Does the filing reference DEA's recent reverse stock split?

Yes. Share counts are presented on a post 1-for-2.5 reverse split basis effective 04/28/2025.

When will the granted shares vest?

They vest on the earlier of one year from grant or the next annual shareholder meeting, subject to continued board service.