Darrell W. Crate - 11 Mar 2022 Form 4 Insider Report for Easterly Government Properties, Inc. (DEA)

Role
Chairman, Director
Signature
/s/ Franklin V. Logan, Attorney-in-fact for Darrell W. Crate
Issuer symbol
DEA
Transactions as of
11 Mar 2022
Net transactions value
-$3,695,896
Form type
4
Filing time
15 Mar 2022, 21:02:08 UTC
Previous filing
20 Jan 2022
Next filing
05 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DEA Common Stock Conversion of derivative security $0 +19,594 +264% $0.000000 27,022 11 Mar 2022 Direct F1
transaction DEA Common Stock Sale $411,474 -19,594 -73% $21.00 7,428 11 Mar 2022 Direct F2
transaction DEA Common Stock Conversion of derivative security $0 +135,406 $0.000000 135,406 11 Mar 2022 By Easterly Capital LLC F3
transaction DEA Common Stock Sale $2,858,421 -135,406 -100% $21.11 0 11 Mar 2022 By Easterly Capital LLC F4
transaction DEA Common Stock Conversion of derivative security $0 +10,000 +135% $0.000000 17,428 14 Mar 2022 Direct F5
transaction DEA Common Stock Sale $208,100 -10,000 -57% $20.81 7,428 14 Mar 2022 Direct F6
transaction DEA Common Stock Conversion of derivative security $0 +3,751 +50% $0.000000 11,179 15 Mar 2022 Direct F7
transaction DEA Common Stock Sale $217,902 -10,406 -93% $20.94 773 15 Mar 2022 Direct F8

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DEA LTIP Units Conversion of derivative security $0 -13,754 -100% $0.000000* 0 11 Mar 2022 Common Stock 13,754 Direct F9, F10
transaction DEA LTIP Units Conversion of derivative security $0 -5,840 -13% $0.000000 38,166 11 Mar 2022 Common Stock 5,840 Direct F10, F11
transaction DEA Common Units Conversion of derivative security $0 -135,406 -21% $0.000000 500,000 11 Mar 2022 Common Stock 135,406 By Easterly Capital LLC F12
transaction DEA LTIP Units Conversion of derivative security $0 -10,000 -26% $0.000000 28,166 14 Mar 2022 Common Stock 10,000 Direct F10, F11
transaction DEA LTIP Units Conversion of derivative security $0 -3,751 -13% $0.000000 24,415 15 Mar 2022 Common Stock 3,751 Direct F10, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 19,594 LTIP units ("LTIP Units") in Easterly Government Properties LP (the "Partnership"), of which the Issuer is the sole general partner, were exchanged for an equal number of common units of limited partnership interest in the Partnership ("Common Units"), which were subsequently redeemed for an equal number of shares of the Issuer's common stock, par value $0.01 per share ("Common Stock").
F2 These shares were all sold at a price of $21.00 per share.
F3 135,406 Common Units were redeemed for an equal number of shares of Common Stock.
F4 Represents the weighted average sale price per share. These shares were sold in multiple transactions at prices ranging from $21.00 to $21.17 per share, inclusive. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F5 10,000 LTIP Units were exchanged for an equal number of Common Units, which were subsequently redeemed for an equal number of shares of Common Stock.
F6 Represents the weighted average sale price per share. These shares were sold in multiple transactions at prices ranging from $20.75 to $20.88 per share, inclusive. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F7 3,751 LTIP Units were exchanged for an equal number of Common Units, which were subsequently redeemed for an equal number of shares of Common Stock.
F8 Represents the weighted average sale price per share. These shares were sold in multiple transactions at prices ranging from $20.85 to $21.01 per share, inclusive. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
F9 Represents LTIP Units granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, as amended, subject to certain performance vesting hurdles, which were earned based on the Issuer's performance from January 4, 2018 through December 31, 2019.
F10 Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be exchanged, at the election of either the holder or the Partnership, into a Common Unit. Each Common 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 elect to acquire each Common Unit so presented for one share of Common Stock. LTIP Units are generally not convertible without the consent of the Issuer until two years from the grant date. These redemption rights have no expiration date.
F11 Represents LTIP Units granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, as amended, subject to certain performance vesting hurdles, which were earned based on the Issuer's performance from January 2, 2019 through December 31, 2021.
F12 Each Common 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 elect to acquire each Common Unit so presented for one share of Common Stock. These redemption rights have no expiration date.