Murphy Devin Ignatius 4

What Happened
Devin Ignatius Murphy, a director of Phillips Edison & Company (PECO), reported the exercise/conversion of 3,290 derivative units on May 1, 2026. The Form 4 shows both an acquisition and a disposition of 3,290 shares at $0.00 per share (total value $0), reflecting a non‑cash vesting/conversion event rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-05-01; Filing date: 2026-05-04 (filed within the Form 4 timing window).
• Reported entries: Exercise/conversion of derivative (code M) — 3,290 shares acquired @ $0.00 and 3,290 shares disposed @ $0.00.
• Reported dollar value: $0 (no cash paid or received in the filing).
• Shares owned after transaction: Not specified in the provided filing excerpts.
• Footnotes:
  • F1 — OP Units are limited partnership interests exchangeable for cash equal to the fair market value of a share or, at PECO OP’s option, for one share of common stock on a one‑for‑one basis.
  • F2 — This reflects vesting of Class B Units that, upon vesting, converted into OP Units.
  • F3 — Mr. Murphy disclaims beneficial ownership except to the extent of any pecuniary interest.

Context
This was a vesting/conversion event (derivative exercise) that created OP-unit/common-stock equivalents; it was not an open‑market buy or sale. Because no cash changed hands and the units were converted under partnership terms, the filing should be read as an administrative conversion/vesting disclosure rather than an indicator of buying or selling intent.