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Easterly Government Properties, Inc.·4

Feb 20, 4:30 PM ET

Ibe Michael P. 4

Research Summary

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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.