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Easterly Government Properties, Inc.·4

Feb 26, 5:54 PM ET

Crate Darrell W 4

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Easterly (DEA) CEO Darrell Crate Converts LTIP Units to Shares

What Happened
Darrell W. Crate, President & CEO and a director of Easterly Government Properties (DEA), reported conversions of LTIP/derivative securities on Feb 24, 2026. The filing shows: an acquisition of 31,488 shares (conversion of LTIP units) at $0.00 per share (shares were issued to Easterly Capital LLC, an entity wholly owned by Crate), and two derivative conversion entries reported as dispositions of 13,100 and 18,388 shares (also at $0.00). These transactions reflect conversion/redemption of long‑term incentive plan units into common stock rather than open‑market buys or sales; no cash consideration was reported.

Key Details

  • Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (timely filing).
  • Reported amounts: +31,488 shares acquired (issued to Easterly Capital LLC); 13,100 and 18,388 shares reported as dispositions (all at $0.00).
  • Shares are shown on a post‑split basis reflecting a 1‑for‑2.5 reverse split completed April 28, 2025 (footnote F2).
  • These LTIP units were granted under the company’s 2015 Equity Incentive Plan and include performance‑based and service‑based awards that vested (footnotes F3, F5).
  • Footnote F1: the 31,488 LTIP units were exchanged for common units and redeemed for common stock issued to Easterly Capital LLC. Footnote F4 explains conversion/redemption mechanics for LTIP units.
  • No cash proceeds or market trades reported; transactions are compensation/plan‑related conversions. The filing does not list a new total of shares directly held by Crate beyond noting issuance to his wholly‑owned LLC.

Context
These entries are plan‑related conversions/vestings of LTIP units into common stock (and redemptions) and should be read as compensation/structural transfers rather than market purchases or sales. Because the shares were issued to an entity wholly owned by the insider (Easterly Capital LLC) and some prior holdings were transferred to that LLC under Rule 16a‑13 (footnote F2), the filing documents internal/plan movements rather than open‑market sentiment.