DEA insider filing: Emil Henry Jr. receives 20,000 performance LTIP Units

Rhea-AI Filing Summary

Emil W. Henry Jr., a director of Easterly Government Properties, Inc. (DEA), was granted 20,000 LTIP Units in the company’s Operating Partnership on 08/26/2025. The LTIP Units were awarded under the 2024 Equity Incentive Plan and will vest on the fifth anniversary of the grant date only if the reporting person remains in service and performance hurdles are met before the eighth anniversary. Each earned LTIP Unit may be converted into a Common Unit (and then redeemed for cash equal to a share of common stock or exchanged for one share at the issuer’s election). The report was filed on 08/28/2025 by an attorney-in-fact.

Insights

Compensation/Corporate Governance Analyst

TL;DR: Director received performance-based LTIP award of 20,000 units with long-term vesting tied to service and performance.

The grant aligns executive pay with long-term performance by using LTIP Units that vest only after five years and contingent on achieving specified performance hurdles within eight years. This structure reduces short-term incentive misalignment and preserves retention incentives. The conversion feature allowing Common Units to be redeemed for cash or exchanged for common stock gives flexibility in settlement, limiting immediate dilution of common shares. The disclosure is routine for director compensation and contains clear vesting and conversion mechanics.

Securities/Insider Transactions Expert

TL;DR: Material insider filing documents a routine equity award; timing and mechanics are clearly disclosed.

The Form 4 reports a non-derivative acquisition of 20,000 LTIP Units under the issuer’s 2024 Equity Incentive Plan. The filing specifies grant date, vesting schedule, performance conditions, and conversion/redemption mechanics, meeting Section 16 reporting standards. There is no indication of exercised options, sales, or immediate transfer, so short-term market impact is likely limited. The report is properly signed by an attorney-in-fact and dated 08/28/2025.

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^*

HENRY EMIL W JR

(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)
08/26/2025

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

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)	08/26/2025		A		20,000		(1)(2)	(2)	Common Stock	20,000	$0	20,000	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, as amended (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 the fifth anniversary of the grant date, subject to the Reporting Person's continued service 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.

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.

	/s/ Franklin V. Logan, Attorney-in-fact for Emil W. Henry, Jr.	08/28/2025
	** Signature of Reporting Person	Date
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