Ibe Michael P. 4
4 · Easterly Government Properties, Inc. · Filed Feb 20, 2026
Research Summary
AI-generated summary of this filing
Easterly (DEA) EVP Michael Ibe Receives 245 LTIP Units Award
What Happened
Michael P. Ibe, Executive Vice President of Development & Acquisitions and a director of Easterly Government Properties (DEA), received a grant of 245 LTIP Units (derivative equity award) on February 18, 2026. The reported acquisition price is $0.00 (reporting value $0) because these units were issued as long‑term incentive compensation under the company’s 2015 Equity Incentive Plan. The LTIP Units were earned after the issuer’s compensation committee determined performance hurdles covering Jan 3, 2023–Dec 31, 2025 were met.
Key Details
- Transaction date: 2026-02-18; Form filed: 2026-02-20 (timely filing). Transaction code: A (award/grant).
- Amount: 245 LTIP Units; reported acquisition price: $0.00; total reported value: $0.
- Shares/units owned after transaction: not specified in the provided filing excerpt.
- Footnote highlights:
- F1: Units granted as performance-based LTIP award under the 2015 plan and were earned based on 2023–2025 performance.
- F2: Each vested LTIP Unit may, subject to tax allocation conditions, be converted (at holder’s election) into a common unit of the operating partnership and those common units may 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 of common stock instead). LTIP Units generally are not convertible without issuer consent until two years after grant; conversion and redemption rights do not expire.
- F3: The reported derivative total includes all LTIP Units earned pursuant to the award, including units earned earlier (e.g., Jan 20, 2026); LTIP Units vested when earned.
Context
This was an equity award (not a purchase or sale). Awards like LTIP Units are compensation tied to company performance and are different from open‑market purchases (which can signal personal bullishness) or sales (which can be liquidity events). Because these are convertible/redeemable partnership units rather than immediate common stock, their ultimate economic value will depend on future conversion/redemption and the fair market value of the company’s common stock.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3]2026-02-18+245→ 13,345 total→ Common Stock (245 underlying)
Footnotes (3)
- [F1]Represents additional 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"), 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, including LTIP Units earned on January 20, 2026. LTIP Units vested when earned.