PECO CEO gets performance-based OP and LTIP units
Phillips Edison & Company, Inc. (PECO) Chairman and CEO Jeffrey Edison reported new equity-based awards tied to long-term performance.
Rhea-AI Filing Summary
Phillips Edison & Company, Inc. (PECO) Chairman and CEO Jeffrey Edison reported new equity-based awards tied to long-term performance. On February 4, 2026, he was granted 30,235 OP Units, 4,480.621 Class B Units, and 30,235 Class C Units at a reported price of $0 per unit.
The filing explains that OP Units are exchangeable into cash equal to the value of one common share or, at PECO OP’s option, one share of common stock on a one-for-one basis. The OP Unit grant reflects achievement of performance metrics under the 2023–2025 Performance-Based LTIP Units. The Class B Units were issued in lieu of cash dividends on those earned LTIP Units, while the Class C Units are unvested awards scheduled to vest on January 1, 2027, subject to continued service.
The Form 4 also lists substantial indirect OP Unit holdings in various trusts and entities, for which Mr. Edison has shared voting and dispositive power and disclaims beneficial ownership beyond his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 64,950.621 shares
Grant/Award
13 txns
Insider
Edison Jeffrey
Role
Chairman and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | OP Units | 30,235 | $0.00 | $0.00 |
| Grant/Award | Class B Units | 4,480.621 | $0.00 | $0.00 |
| Grant/Award | Class C Units | 30,235 | $0.00 | $0.00 |
| holding | OP Units | -- | -- | -- |
| holding | OP Units | -- | -- | -- |
| holding | OP Units | -- | -- | -- |
| holding | OP Units | -- | -- | -- |
| holding | OP Units | -- | -- | -- |
| holding | OP Units | -- | -- | -- |
| holding | OP Units | -- | -- | -- |
| holding | OP Units | -- | -- | -- |
| holding | OP Units | -- | -- | -- |
| holding | OP Units | -- | -- | -- |
Holdings After Transaction:
OP Units — 89,554.699 contracts (Direct);
Class B Units — 4,480.621 contracts (Direct);
Class C Units — 30,235 contracts (Direct);
OP Units — 2,150,000 contracts (Indirect, By Sprinkles Trust LLC);
OP Units — 2,020,000 contracts (Indirect, By Junebug Trust I, LLC);
OP Units — 1,814,405.871 contracts (Indirect, By Jeffrey Edison Family Trust);
OP Units — 1,134,215.303 contracts (Indirect, By Edison Properties LLC);
OP Units — 458,893.389 contracts (Indirect, By Spouse's Family Trust);
OP Units — 431,233.177 contracts (Indirect, By Edison Family Trust);
OP Units — 330,666.876 contracts (Indirect, By Edison Ventures Trust);
OP Units — 276,927.452 contracts (Indirect, By Old 97, Inc);
OP Units — 211,265.707 contracts (Indirect, By Spouse's Trust);
OP Units — 60,583.377 contracts (Indirect, By Father's Trust)
Footnotes (6)
- F1. Limited partnership interests ("OP Units") in Phillips Edison Grocery Center Operating Partnership I, L.P., a Delaware limited partnership ("PECO OP") are exchangeable, at the election of the holder, for cash equal to the fair market value of one share of the Issuer's Common Stock or, at the option of PECO OP, shares of the Issuer's Common Stock on a one-for-one basis, and have no expiration date and are not subject to vesting.
- F2. Represents OP Units earned based upon the Issuer's achievement of performance metrics under the 2023-2025 Performance-Based LTIP Units.
- F3. Reflects total shares held by the entity, and as to which Mr. Edison has shared voting and dispositive power. Mr. Edison disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.
- F4. Represents vested Class B Units of limited partnership interests ("Class B Units") in PECO OP issued in lieu of cash dividends accrued on the earned 2023-2025 Performance-Based LTIP Units. At issuance, the Class B Units do not have full parity with the OP Units, but upon achieving parity with the OP Units under the PECO OP's partnership agreement, based upon capital account balance per unit, the vested Class B Units convert to OP Units on a one-for-one basis. The Class B Units have no expiration date.
- F5. Represents Class C Units of limited partnership interests ("Class C Units") in PECO OP. At issuance, the Class C Units do not have full parity with the OP Units, but upon achieving parity with the OP Units under the PECO OP's partnership agreement, based upon capital account balance per unit, and upon satisfaction of any applicable vesting conditions, the vested Class C Units convert to OP Units on a one-for-one basis. The Class C Units have no expiration date.
- F6. Represents unvested Class C Units earned based upon the Issuer's achievement of the performance metrics under the 2023-2025 Performance-Based LTIP Units which will vest in full on January 1, 2027, subject to continued service with the Company.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did PECO CEO Jeffrey Edison report in this Form 4 filing?
Jeffrey Edison reported awards of 30,235 OP Units, 4,480.621 Class B Units, and 30,235 Class C Units on February 4, 2026. These units relate to Phillips Edison’s 2023–2025 Performance-Based LTIP program and were recorded at a price of $0 per unit.
How do PECO OP Units reported by Jeffrey Edison relate to common stock?
The OP Units are limited partnership interests in PECO OP that can be exchanged at the holder’s election. They may be exchanged for cash equal to one share’s fair market value or, at PECO OP’s option, one share of Phillips Edison common stock on a one-for-one basis.
What are the Class B and Class C Units reported by PECO’s CEO?
Class B Units were issued instead of cash dividends accrued on earned 2023–2025 Performance-Based LTIP Units. Class C Units are performance-based awards that initially lack full parity with OP Units but can convert one-for-one into OP Units once parity and any vesting conditions are satisfied.
When will Jeffrey Edison’s Class C Units from the 2023–2025 LTIP vest?
The unvested Class C Units reported for Jeffrey Edison were earned under the 2023–2025 Performance-Based LTIP Units. According to the filing, these Class C Units are scheduled to vest in full on January 1, 2027, subject to his continued service with the company.
What indirect OP Unit holdings connected to Jeffrey Edison are disclosed for PECO?
The filing lists OP Units held by entities such as Sprinkles Trust LLC, Junebug Trust I, LLC, various Edison family trusts, and related entities. It states these totals reflect shares where Jeffrey Edison has shared voting and dispositive power and disclaims beneficial ownership beyond his pecuniary interest.
Does this PECO Form 4 reflect any sales by Jeffrey Edison?
The reported transactions show acquisitions of OP Units, Class B Units, and Class C Units at a price of $0 per unit. The filing does not list any disposition transactions for Jeffrey Edison on the February 4, 2026 transaction date described in the document.
AI-generated analysis. How Rhea-AI works. Not financial advice.
