Murphy Devin Ignatius 4

4 · Phillips Edison & Company, Inc. · Filed May 14, 2026

AI-generated summary of this filing

Updated May 14, 2026

Phillips Edison (PECO) Director Devin Murphy Receives 2,901-Unit Award

What Happened

Devin I. Murphy, a director of Phillips Edison & Company, Inc. (PECO), was granted 2,901 Class B limited partnership units in PECO OP on 2026-05-12. The units were issued with an acquisition price of $0.00 (transaction code A — award/grant). Because these are derivative partnership units (not an open-market purchase or sale), no cash exchanged hands.

Key Details

Transaction date: 2026-05-12; Form 4 filed: 2026-05-14 (timely within the 2-business-day window).
Instrument: 2,901 Class B Units of limited partnership interests in Phillips Edison Grocery Center Operating Partnership I, L.P. (derivative).
Price: $0.00 (grant/award).
Shares/units owned after transaction: not specified in the provided filing excerpt.
Footnotes of note:
- F1: OP Units are exchangeable by holders for cash equal to the fair market value of one share of PECO common stock or, at PECO OP’s option, for one share of common stock (one-for-one); no expiration and not subject to vesting.
- F2: Class B Units are a form of partnership interest that, upon meeting certain conditions, can achieve full parity with OP Units and convert into OP Units.
- F3: The Class B Units in this grant vest in full on the earlier of (i) the first anniversary of grant or (ii) the next annual meeting that is at least 50 weeks after the prior meeting, subject to continued service.

Context

These Class B Units are a compensation award/derivative grant rather than a market purchase or sale. If and when the Class B Units vest and attain parity, they convert into OP Units, which can ultimately be exchanged for common stock (or cash at fair market value) on a one-for-one basis. Grants like this are commonly part of director compensation and do not, by themselves, indicate buying or selling sentiment.

Form 4

Period: 2026-05-12

Director

Transactions

Award
Class B Units
[F1][F2][F3]
2026-05-12+2,901→ 2,901 total
→ Common Stock (2,901 underlying)

Footnotes (3)

[F1]Limited partnership interests ("OP Units") in Phillips Edison Grocery Center Operating Partnership I, L.P., a Delaware limited partnership ("PECO OP") are exchangeable, at the election of the holder, for cash equal to the fair market value of one share of the Issuer's Common Stock or, at the option of PECO OP, shares of the Issuer's Common Stock on a one-for-one basis, and have no expiration date and are not subject to vesting.
[F2]Represents the grant of Class B Units of limited partnership interests ("Class B Units") in PECO OP. At issuance, the Class B Units do not have full parity with OP Units with respect to liquidating distributions, but upon the occurrence of certain events described in PECO OP's partnership agreement, based upon capital account balance per unit, could over time achieve full parity with the OP Units for all purposes. Upon vesting and achieving full parity with OP Units, the Class B Units convert into an equal number of OP Units. The Class B Units have no expiration date.
[F3]Represents Class B Units that will vest in full on the earlier of (i) the first anniversary of the date of grant, or (ii) on the date of the next annual meeting of stockholders that is at least 50 weeks after the immediately preceding year's annual meeting, subject to continued service through the applicable vesting date.

Signature

/s/ Jennifer Robison, Attorney-in-Fact|2026-05-14

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