Ibe Michael P. 4
Accession 0001193125-26-019505
Filed
Jan 21, 7:00 PM ET
Accepted
Jan 22, 4:30 PM ET
Size
7.0 KB
Accession
0001193125-26-019505
Research Summary
AI-generated summary of this filing
Easterly (DEA) EVP Michael P. Ibe Receives 13,100 LTIP Units
What Happened
Michael P. Ibe, Executive Vice President—Development & Acquisitions and a director of Easterly Government Properties, was granted 13,100 LTIP Units (derivative securities) on January 20, 2026. The award is reported as an acquisition with a $0.00 per-unit price (compensation grant), so no cash was paid by the insider. The grant reflects long-term incentive compensation tied to performance for the 2023–2025 period.
Key Details
- Transaction type: Award/Grant of derivative securities (Form 4 code A).
- Transaction date: 2026-01-20; Form 4 filed 2026-01-22.
- Amount: 13,100 LTIP Units; reported acquisition price $0.00 (compensation).
- Shares owned after transaction: Not specified in the provided excerpt.
- Footnotes:
- F1: Units granted under the 2015 Equity Incentive Plan and tied to performance hurdles for Jan 3, 2023–Dec 31, 2025; a portion was earned when the committee determined hurdles were met.
- F2: Vested LTIP Units may be converted (subject to tax allocation conditions) into common partnership units, which can be redeemed for cash equal to the fair market value of a share of the issuer’s common stock or, at the issuer’s election, exchanged for one share of common stock. LTIP Units are generally not convertible without issuer consent until two years after the grant.
- F3: The reported derivative amount is the total LTIP Units earned; LTIP Units vested when earned.
- Filing timeliness: Filed two days after the transaction date; filing shows no late-report notation in the provided data.
Context
This was a compensation award (long-term incentive), not an open-market buy or sale. Such LTIP Unit grants are common for executives and are tied to future performance and conversion rules, so they do not directly reflect an insider buying or selling stock. The units can potentially convert to partnership/common units and then be redeemed or converted into shares per the terms noted above.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3]2026-01-20+13,100→ 13,100 total→ Common Stock (13,100 underlying)
Footnotes (3)
- [F1]Represents LTIP Units in Easterly Government Properties LP (the "Operating Partnership"), of which the Issuer is the general partner, that were granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, subject to certain performance vesting hurdles based on the Issuer's performance from January 3, 2023 through December 31, 2025 ("LTIP Unit Award"), and a portion of which were earned upon the determination by the Issuer's compensation committee that the performance vesting hurdles had been achieved.
- [F2]Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in the Operating Partnership (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. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The rights to convert vested LTIP Units into Common Units and redeem Common Units do not have expiration dates.
- [F3]The total number of derivative securities represents the aggregate of all LTIP Units earned by the reporting person pursuant to the LTIP Unit Award. LTIP Units vested when earned.
Signature
Documents
Issuer
Easterly Government Properties, Inc.
CIK 0001622194
Related Parties
1- filerCIK 0001633633
Filing Metadata
- Form type
- 4
- Filed
- Jan 21, 7:00 PM ET
- Accepted
- Jan 22, 4:30 PM ET
- Size
- 7.0 KB