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Postal Realty (PSTL) Insider: Brandwein Buys via ESPP then Sells Shares at $16

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

Rhea-AI Filing Summary

Matt Brandwein, who serves as EVP & Chief Accounting Officer and is identified as a director of Postal Realty Trust, Inc. (PSTL), reported changes in his beneficial ownership on Form 4. On 06/30/2025 he acquired 1,915 shares through the company's 2019 Employee Stock Purchase Plan at a price of $11.09 per share (purchases were at 85% of the closing price on 12/31/2024). The filing also shows two open-market sales: 4,112 shares sold on 09/09/2025 at $16.00 and 1,803 shares sold on 09/11/2025 at $16.00. Following these transactions his reported beneficial ownership moved from 113,834 shares after the ESPP purchase to 107,919 shares after the sales. The ESPP purchase is noted as exempt under Section 16b-3(c). The Form 4 was signed via attorney-in-fact Joseph Antignani on 09/11/2025.

Positive

  • ESPP acquisition shows use of employee benefit plan (shares purchased at discount)
  • Clear disclosure of transaction dates, prices, and post-transaction beneficial ownership
  • Exempt treatment under Section 16b-3(c) indicates standard plan handling

Negative

  • Insider sales reduced beneficial ownership from 113,834 to 107,919 shares
  • No explanation in the filing for the purpose of the sales beyond routine reporting

Insights

TL;DR: Insider exercised participation in an ESPP and conducted modest open-market sales, reducing holdings by ~5%.

The Form 4 discloses a routine ESPP purchase followed by two sales at $16.00 per share. The ESPP purchase price of $11.09 reflects the plan discount of 85% of the 12/31/2024 closing price, and the subsequent sales reduced reported beneficial ownership from 113,834 shares to 107,919 shares, a decrease of 5,915 shares or about 5.2% of the post-purchase position. The filing is marked exempt under Section 16b-3(c), indicating standard plan treatment rather than a related-party transfer. For investors, these are standard insider liquidity and compensation-related transactions rather than extraordinary corporate events.

TL;DR: Transactions appear procedural and compliant with plan and Section 16 exemptions.

The submission identifies Brandwein as both an officer (EVP & Chief Accounting Officer) and a director, and the ESPP purchase and subsequent sales are documented with dates, prices, and post-transaction holdings. The declaration of exemption under Section 16b-3(c) and signature by an attorney-in-fact satisfy common disclosure formalities. No unusual timing, option exercises, or related-party transfers are indicated. Documentation is concise and consistent with normal executive compensation and portfolio management activity.

Insider Brandwein Matt
Role EVP & Chief Accounting Officer
Sold 5,915 shs ($95K)
Type Security Shares Price Value
Sale Class A common stock 1,803 $16.00 $29K
Sale Class A common stock 4,112 $16.00 $66K
Grant/Award Class A common stock 1,915 $11.09 $21K
Holdings After Transaction: Class A common stock — 107,919 shares (Direct)
Footnotes (1)
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Form 4 Insider Transactions: What Each Field Means →
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*
Brandwein Matt
(Last) (First) (Middle)
C/O POSTAL REALTY TRUST, INC.
75 COLUMBIA AVENUE
(Street)
CEDARHURST NY 11516
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Postal Realty Trust, Inc. [ PSTL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP & Chief Accounting Officer
3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025
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
Class A common stock 06/30/2025 A V 1,915(1) A $11.09(1) 113,834 D
Class A common stock 09/09/2025 S 4,112 D $16 109,722 D
Class A common stock 09/11/2025 S 1,803 D $16 107,919 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. This transaction is being voluntary filed on Form 4 to reflect shares acquired through the Reporting Person's participation in the Postal Realty Trust, Inc. (the "Issuer") 2019 Employee Stock Purchase Plan ("ESPP"). This transaction is also exempt under Section 16b-3(c). In accordance with the ESPP, these shares were purchased at a price equal to 85% of the closing price of the Issuer's common stock on December 31, 2024.
Remarks:
/s/ Joseph Antignani, attorney-in-fact 09/11/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

Who filed this Form 4 for PSTL and what is their role?

The filing was made for Matt Brandwein, identified as EVP & Chief Accounting Officer and a director of Postal Realty Trust, Inc.

What shares did the reporting person acquire under the ESPP?

On 06/30/2025 Brandwein acquired 1,915 shares of Class A common stock under the 2019 ESPP at a price of $11.09 per share.

What sales were reported in the Form 4 and at what price?

The Form 4 reports sales of 4,112 shares on 09/09/2025 at $16.00 and 1,803 shares on 09/11/2025 at $16.00.

How did these transactions affect total beneficial ownership?

Reported beneficial ownership was 113,834 shares after the ESPP purchase and fell to 109,722 after the 09/09 sale and to 107,919 after the 09/11 sale.