Crate Darrell W 4

What Happened
Darrell W. Crate, President & CEO and a director of Easterly Government Properties (DEA), was granted 245 long‑term incentive plan (LTIP) units on February 18, 2026. The grant was recorded as a derivative award at $0.00 per unit (no cash paid). The LTIP units were earned based on performance vesting hurdles for the period Jan 3, 2023–Dec 31, 2025 and vested when earned.

Key Details

• Transaction date: 2026-02-18; Form 4 filed 2026-02-20 (appears timely).
• Security/amount: 245 LTIP Units (derivative securities) granted at $0.00 per unit.
• Reported value: $0 cash paid at grant; economic value depends on future conversion/redemption.
• Shares/units owned after transaction: not specified in the provided filing excerpt.
• Relevant footnotes: award under the Issuer’s 2015 Equity Incentive Plan; units earned on achievement of performance hurdles (F1, F3). Conversion/redeem rules and conversion timing restrictions summarized below (F2).
• Transaction code: A (award/grant).

Context

• LTIP Units are units in the company’s operating partnership that, when vested, can be converted (at the holder’s election and subject to tax/accounting conditions) into common partnership units and then redeemed for cash equal to the fair market value of a share of common stock or, at the issuer’s election, exchanged for one share of common stock.
• LTIP Units are generally not convertible without issuer consent until two years after grant; conversion and redemption rights do not expire.
• As an award rather than an open‑market purchase or sale, this transaction reflects compensation tied to prior performance rather than a direct insider buy/sell signal.