Crate Darrell W 4
Accession 0001193125-26-019512
Filed
Jan 21, 7:00 PM ET
Accepted
Jan 22, 4:30 PM ET
Size
7.0 KB
Accession
0001193125-26-019512
Research Summary
AI-generated summary of this filing
Easterly (DEA) CEO Darrell Crate Receives LTIP Award
What Happened
Darrell W. Crate, President & CEO and a director of Easterly Government Properties (ticker: DEA), received an award of 13,100 LTIP Units on January 20, 2026. The Form 4 reports the acquisition as an award/grant (transaction code A) at $0.00 per unit (derivative security). The units were granted as long-term incentive compensation tied to performance and a portion were earned and vested based on performance for the 2023–2025 period.
Key Details
- Transaction date: 2026-01-20. Filing date: 2026-01-22 (filed within the typical 2-business-day Form 4 window).
- Security: 13,100 LTIP Units (derivative units in the Operating Partnership). Reported acquisition price: $0.00.
- Shares owned after transaction: not disclosed in the provided Form 4.
- Footnote highlights:
- LTIP Units were granted under the 2015 Equity Incentive Plan and were subject to performance vesting for Jan 3, 2023–Dec 31, 2025; a portion were earned and vested upon committee determination (F1, F3).
- Vested LTIP Units may, subject to tax-allocation conditions, be converted (at the holder’s election) into Common Units of the Operating Partnership and those 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 elect to issue one share per Common Unit) (F2). LTIP Units generally aren’t convertible without issuer consent until two years after grant; conversion and redemption rights have no expiration dates.
Context This was an equity compensation award (not an open-market purchase or sale). Such grants are routine forms of executive pay tied to performance metrics; the Form 4 reports the grant and vesting but does not by itself signal the insider’s trading intentions.
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 0001201028
Filing Metadata
- Form type
- 4
- Filed
- Jan 21, 7:00 PM ET
- Accepted
- Jan 22, 4:30 PM ET
- Size
- 7.0 KB