Spodek Andrew 4

What Happened

• Andrew Spodek, a reported 10% owner of Postal Realty Trust, had previously awarded performance RSUs vest on Jan 29, 2026 and converted (exercised) those RSUs into shares. 24,736 shares were issued on conversion (reported at $0.00 acquisition price as these were derivative awards). To satisfy tax withholding on the vesting, 9,485 shares were disposed at $17.67 for proceeds of $167,600. The filing also shows a 20,091-share conversion/disposition related to prior 2023 performance RSUs.
• On Feb 1, 2026 Spodek received new awards: 169,431 market-based RSUs valued at $17.71 per share (grant value reported as $3,001,233) plus additional LTIP/award units of 18,878 and 15,446 units reported at $0.00 (derivative awards subject to vesting conditions).

Key Details

• Dates: Jan 29, 2026 (vesting/conversion and tax-withholding disposition); Feb 1, 2026 (new grants).
• Transaction codes: M = exercise/conversion of derivative (RSUs), F = tax withholding (sale of shares to cover taxes), A = grant/award.
• Notable amounts: 24,736 RSUs vested/converted; 9,485 shares sold for tax withholding ($17.67/share, $167,600); grant of 169,431 market-based RSUs valued at ~$3,001,233 (grant price $17.7136 used).
• Footnotes: 2023 RSUs vested at 123.1% of target after performance certification; 2026 RSUs are market-based awards (0–200% payout possible) with a three-year performance period ending Dec 31, 2028; LTIP Units have vesting/conversion features and may convert to partnership units redeemable for cash or Class A shares.
• Shares owned after transaction: not provided in the excerpt — see the full Form 4 for post-transaction ownership totals.
• Filing timing: Form 4 was filed Feb 2, 2026 and covers transactions on Jan 29 and Feb 1, 2026; filing appears to cover the reported dates.

Context

• These transactions are mostly non-cash equity plan events: RSUs vested/converted (not open-market purchases) and shares were withheld/sold to satisfy tax withholding — a routine administrative step, not an express directional bet. The Feb 1 grants are performance- and market-based awards that vest only if future performance and/or continued service conditions are met. As a 10% owner, Spodek’s activity is significant to monitor but primarily reflects equity compensation mechanics rather than transparent open-market buying/selling.