Logan Franklin V. 4

What Happened

• Logan Franklin V., EVP, General Counsel & Secretary of Easterly Government Properties, was granted/earned 1,120 LTIP Units on January 20, 2026. The Form 4 reports the acquisition price as $0 because these units were issued as long‑term incentive compensation under the company’s 2015 Equity Incentive Plan and were partially earned when performance goals were met.

Key Details

• Transaction date: 2026-01-20; reported on Form 4 filed 2026-01-22 (timely filing).
• Security and amount: 1,120 LTIP Units (derivative securities); reported acquisition price $0.
• Shares owned after transaction: Not specified in this Form 4.
• Footnote highlights:
  • F1: Units were granted under an LTIP tied to performance for Jan 3, 2023–Dec 31, 2025; a portion was earned when the compensation committee determined hurdles were met.
  • F2: Each vested LTIP Unit can be converted (subject to tax allocation conditions and issuer consent rules) into a Common Unit of the Operating Partnership; Common Units can be redeemed for cash equal to the fair market value of a share of the issuer’s common stock, or the issuer may instead deliver one share per Common Unit.
  • F3: The 1,120 units represent the aggregate LTIP Units earned; LTIP Units vested when earned.
• Transaction type code: A = Award/Grant (derivative award).

Context

• This was a compensation award (long‑term incentive), not an open‑market purchase or sale; such awards are routine parts of executive pay and do not directly indicate immediate buying or selling of stock.
• LTIP Units are derivative interests in the Operating Partnership and may convert or be redeemed for cash or shares under specified conditions; conversion may be restricted (generally not convertible without issuer consent until two years after grant).
• No cash changed hands in this reported acquisition (price $0), though the units have potential future economic value if converted or redeemed.