Bakke Stephen Michael 4

What Happened

• Stephen Michael Bakke, Chief Financial Officer of Postal Realty Trust, received two derivative awards on February 1, 2026: 10,246 restricted stock units (2026 RSUs) and 8,383 LTIP units. Both grants show an acquisition price of $0 (awarded, not purchased). The awards are subject to performance and vesting conditions and will convert into or be settled in shares or partnership units upon vesting.

Key Details

• Transaction date: February 1, 2026; Form 4 filed February 2, 2026 (timely).
• Award amounts: 10,246 RSUs (F1–F2) and 8,383 LTIP units (F3–F5); combined = 18,629 units.
• Price: $0 — these are grants/awards, not open‑market purchases.
• Vesting/settlement:
  • 2026 RSUs are market‑based, performance‑contingent over a three‑year performance period ending 12/31/2028; payout may range from 0% to 200% of the RSUs and, if earned, will be settled in Class A common stock (F1–F2).
  • LTIP Units are a class of Operating Partnership units that vest ratably on the 1st, 2nd and 3rd anniversaries of 2/1/2026 (subject to continued employment); upon vesting they convert to OP Units redeemable for cash or, at the issuer’s election, one‑for‑one into Class A shares (F3–F5).
• Shares owned after transaction: Not specified in the summary data provided.
• Filing timeliness: Filed the next day (Feb 2) for Feb 1 transactions — no late‑filing flag noted.

Context

• These entries are awards (derivative grants) rather than open‑market buys or sales. The RSUs are performance‑based and may pay out more, the same, or less than the grant amount depending on achievement of metrics (0–200% per F1). LTIP units vest over time and convert into partnership units that can be redeemed for cash or shares, so ultimate value depends on future performance and company stock price. Awards do not on their own indicate the insider’s immediate buying or selling sentiment.