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Postal Realty Trust (PSTL) director receives LTIP Unit grants in lieu of cash pay

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

LEFKOWITZ BARRY reported acquisition or exercise transactions in this Form 4 filing.

Postal Realty Trust, Inc. director Barry Lefkowitz reported receiving two grants of LTIP Units as equity compensation in lieu of cash. One award covers 3,198 LTIP Units and another covers 4,776 LTIP Units, each convertible into an equivalent number of Operating Partnership units and ultimately redeemable for cash or Class A common stock. The LTIP Units are tied to the company’s Alignment of Interest Program and vest over time around anniversaries of June 2, 2026, subject to service and other conditions. The economic value of the awards is based on a volume weighted average Class A share price of $23.4503 for the 10 trading days immediately preceding June 2, 2026.

Positive

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Negative

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Insider LEFKOWITZ BARRY
Role null
Type Security Shares Price Value
Grant/Award LTIP Units 4,776 $0.00 --
Grant/Award LTIP Units 3,198 $0.00 --
Holdings After Transaction: LTIP Units — 45,061 shares (Direct, null)
Footnotes (1)
  1. Following the occurrence of certain events and upon vesting, the LTIP Units are convertible by Postal Realty Trust, Inc. (the "Issuer") into an equivalent number of units of the Operating Partnership ("OP Units"). OP Units are redeemable by the Reporting Person for cash or, at the election of the Issuer, shares of Class A common stock of the Issuer on a one-for-one basis or the cash value of such shares. LTIP Units do not have expiration dates. Reflects LTIP Unit grants in lieu of cash compensation pursuant to the Issuer's Alignment of Interest Program that vest on the third anniversary of June 2, 2026, subject to certain conditions. The LTIP Units are a class of limited partnership units of Postal Realty LP. The LTIP Units were granted in lieu of cash compensation. The price of the securities acquired by the Reporting Person is based on the volume weighted average price of the Issuer's Class A common stock for the 10 trading days immediately preceding June 2, 2026, which was $23.4503. The LTIP Units will vest ratably on the first, second and third anniversaries of June 2, 2026, subject to continued service on the Issuer's board of directors through the applicable vesting date.
LTIP Unit grant 1 3,198 LTIP Units Grant to Barry Lefkowitz on June 2, 2026
LTIP Unit grant 2 4,776 LTIP Units Second grant to Barry Lefkowitz on June 2, 2026
VWAP used for grant valuation $23.4503 per share 10‑day volume weighted average price before June 2, 2026
Holdings after grant (entry 1) 48,259 LTIP Units Total LTIP Units following one reported transaction
Holdings after grant (entry 2) 45,061 LTIP Units Total LTIP Units following the other reported transaction
Vesting reference date June 2, 2026 Anniversaries used for LTIP vesting schedule
LTIP Units financial
"Following the occurrence of certain events and upon vesting, the LTIP Units are convertible..."
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
Operating Partnership financial
"convertible by Postal Realty Trust, Inc. into an equivalent number of units of the Operating Partnership..."
An operating partnership is a separate legal entity set up to own and run a company’s core assets and day-to-day businesses, while investors hold interests indirectly through the parent company. Think of it like a dedicated garage that actually stores and services the cars while the owner keeps the dealership; it matters to investors because it affects how income, taxes, liability and voting rights are allocated and therefore can influence distributions and risk.
OP Units financial
"OP Units are redeemable by the Reporting Person for cash or, at the election of the Issuer..."
OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.
Alignment of Interest Program financial
"Reflects LTIP Unit grants in lieu of cash compensation pursuant to the Issuer's Alignment of Interest Program..."
volume weighted average price financial
"based on the volume weighted average price of the Issuer's Class A common stock..."
The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
LEFKOWITZ BARRY
(Last)(First)(Middle)
C/O POSTAL REALTY TRUST, INC.
75 COLUMBIA AVENUE
(Street)
CEDARHURST NEW YORK 11516
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Postal Realty Trust, Inc. [ PSTL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
LTIP Units(1)(2)(3)(1)06/02/2026A4,776 (2) (1)Class A common stock4,776(4)45,061D
LTIP Units(1)(3)(5)(1)06/02/2026A3,198 (5) (1)Class A common stock3,198$048,259D
Explanation of Responses:
1. Following the occurrence of certain events and upon vesting, the LTIP Units are convertible by Postal Realty Trust, Inc. (the "Issuer") into an equivalent number of units of the Operating Partnership ("OP Units"). OP Units are redeemable by the Reporting Person for cash or, at the election of the Issuer, shares of Class A common stock of the Issuer on a one-for-one basis or the cash value of such shares. LTIP Units do not have expiration dates.
2. Reflects LTIP Unit grants in lieu of cash compensation pursuant to the Issuer's Alignment of Interest Program that vest on the third anniversary of June 2, 2026, subject to certain conditions.
3. The LTIP Units are a class of limited partnership units of Postal Realty LP.
4. The LTIP Units were granted in lieu of cash compensation. The price of the securities acquired by the Reporting Person is based on the volume weighted average price of the Issuer's Class A common stock for the 10 trading days immediately preceding June 2, 2026, which was $23.4503.
5. The LTIP Units will vest ratably on the first, second and third anniversaries of June 2, 2026, subject to continued service on the Issuer's board of directors through the applicable vesting date.
Remarks:
/s/ Joseph Antignani, attorney-in-fact06/04/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Postal Realty Trust (PSTL) director Barry Lefkowitz report on this Form 4?

Barry Lefkowitz reported receiving two grants of LTIP Units as equity compensation in lieu of cash. These derivative awards can ultimately convert into Operating Partnership units and be redeemed for cash or Class A common stock under specified terms.

How many LTIP Units were granted to Barry Lefkowitz in the latest PSTL filing?

The filing shows two separate LTIP Unit grants: one for 3,198 LTIP Units and another for 4,776 LTIP Units. Each LTIP Unit is designed to correspond to an equivalent number of Operating Partnership units under the company’s equity structure.

How are the LTIP Unit grants for PSTL’s director valued?

The price of the securities acquired is based on the volume weighted average price of Postal Realty Trust’s Class A common stock. The filing specifies a 10‑day VWAP of $23.4503 for the trading days immediately preceding June 2, 2026 as the valuation basis.

When do Barry Lefkowitz’s LTIP Units at Postal Realty Trust vest?

The LTIP Units granted under the Alignment of Interest Program vest over time around the third anniversary of June 2, 2026. Some vest ratably on the first, second, and third anniversaries, subject to continued board service and other vesting conditions described in the program.

Can the LTIP Units reported by PSTL’s director become common stock?

Yes. After certain events and vesting, LTIP Units convert into Operating Partnership units, which are redeemable for cash or, at the issuer’s election, Class A common stock on a one‑for‑one basis or the cash value of such shares, providing equity-linked compensation.

Do the LTIP Units granted to the PSTL director have an expiration date?

The filing states that LTIP Units do not have expiration dates. They first must vest and become convertible into Operating Partnership units and can then be redeemed under the terms described, rather than expiring like traditional stock options or warrants.