Logan Franklin V. 4
4 · Easterly Government Properties, Inc. · Filed Feb 20, 2026
Research Summary
AI-generated summary of this filing
Easterly (DEA) EVP Logan Franklin Receives 19 LTIP Units
What Happened
Logan Franklin V., EVP, General Counsel & Secretary of Easterly Government Properties (DEA), was granted/awarded 19 derivative LTIP Units on 2026-02-18. The Form 4 reports the units at $0.00 per unit (an award under the company's equity plan), so no cash was exchanged.
Key Details
- Transaction date: 2026-02-18; Form 4 filed 2026-02-20. Transaction code: A (award/grant).
- Reported amount: 19 derivative securities (LTIP Units) at $0.00.
- Shares/units owned after transaction: not disclosed in the filing.
- Footnote highlights:
- F1: These are additional LTIP Units in the Operating Partnership granted under the 2015 Equity Incentive Plan and were earned based on performance for Jan 3, 2023–Dec 31, 2025, as certified by the compensation committee.
- F2: Vested LTIP Units may be convertible (subject to tax-allocation conditions and typically a 2‑year conversion restriction) into common units and redeemable for cash equal to the fair market value of a share of common stock, or exchanged by the issuer for one share.
- F3: The reported total aggregates all LTIP Units earned by the reporting person, including LTIP Units earned on 2026-01-20; LTIP Units vested when earned.
Context
This was a compensation award (not an open‑market purchase or sale). Awards like LTIP Units are common as long‑term incentive pay tied to performance metrics and typically do not by themselves signal insider buying or selling intent. Conversion/redeemability provisions mean these units can ultimately result in cash or stock, but conversions are generally restricted for two years unless the issuer consents.
Insider Transaction Report
- Award
LTIP Units
[F1][F2][F3]2026-02-18+19→ 1,139 total→ Common Stock (19 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.