Garber Jeremy 4
4 · Postal Realty Trust, Inc. · Filed Feb 2, 2026
Research Summary
AI-generated summary of this filing
Postal Realty (PSTL) President Jeremy Garber Receives Awards & Withholds Shares
What Happened
Jeremy Garber, President, Treasurer & Secretary of Postal Realty Trust (PSTL), had several equity events reported Jan 29–Feb 1, 2026. Key items:
- 17,300 performance-based RSUs vested on Jan 29, 2026 (converted to 17,300 shares at $0 exercise price).
- To satisfy tax withholding on vested awards, 6,761 shares were withheld/disposed on Jan 29 (value ≈ $119,467).
- On Feb 1, 2026, Garber received multiple grants: 12,003 restricted shares (service-based), 91,288 market-based LTIP units priced at ~$17.7136 each (market value disclosed $1,617,039), and 14,671 additional derivative awards.
- To satisfy withholding related to other restricted awards, 5,264 shares were withheld/disposed on Feb 1 (value ≈ $95,963).
Overall, the filing shows ~135,262 shares/units acquired through vesting and grants (including derivative awards) and 12,025 shares withheld/disposed to cover taxes (total withholding proceeds ≈ $215,430).
Key Details
- Transaction dates: Jan 29, 2026 (vesting/exercise and tax withholding) and Feb 1, 2026 (grants and additional withholding). Filing date: Feb 2, 2026.
- Prices/values shown: tax-withheld dispositions at ~$17.67 (6,761 shares = $119,467) and ~$18.23 (5,264 shares = $95,963); LTIP units priced at $17.7136 (91,288 units = $1,617,039).
- Shares owned after the transactions: Not specified in the provided excerpts of the filing.
- Footnote highlights: the Jan 29 shares were performance-based RSUs (2023 RSUs) that vested at 123.1% of target; the Feb 1 LTIP Units and RSUs are subject to future performance/service vesting periods (some settle in common stock on vesting).
- Disposal codes: F = share withholding to satisfy tax obligations (not an open-market sale); M = exercise/convert derivatives; A = grant/award.
- Filing appears timely (filed Feb 2, 2026 for Jan 29 and Feb 1 transactions).
Context
- These transactions are largely awards vesting and newly granted equity (not open-market purchases or voluntary sales). The withheld shares (F) reflect tax-withholding in connection with vesting—not a directional sale indicating sentiment.
- Derivative/RSU explanation: performance-based RSUs convert one-for-one to Class A shares upon certification/vesting; LTIP Units are limited partnership units granted in lieu of cash compensation and may convert/settle into shares or cash upon vesting/conditions.
- For retail investors: awards and vesting increase insider share exposure but withheld shares for taxes are routine and do not necessarily indicate buying or selling intent.
Insider Transaction Report
Form 4
Garber Jeremy
Pres., Treasurer & Secretary
Transactions
- Exercise/Conversion
Class A common stock
[F1][F2]2026-01-29+17,300→ 243,387 total - Tax Payment
Class A common stock
[F3]2026-01-29$17.67/sh−6,761$119,467→ 236,626 total - Award
Class A common stock
[F4]2026-02-01+12,003→ 248,629 total - Tax Payment
Class A common stock
[F5]2026-02-01$18.23/sh−5,264$95,963→ 243,365 total - Exercise/Conversion
Restricted Stock Units
[F6][F1]2026-01-29−14,052→ 36,568 total→ Class A common stock (14,052 underlying) - Award
LTIP Units
[F7][F8][F9][F10]2026-02-01$17.71/sh+91,288$1,617,039→ 309,176 total→ Class A common stock (91,288 underlying) - Award
Restricted Stock Units
[F11][F12]2026-02-01+14,671→ 51,239 total→ Class A common stock (14,671 underlying)
Footnotes (12)
- [F1]As previously reported, on February 2, 2023, the Reporting Person was granted 14,052 performance-based restricted stock units (the "2023 RSUs"), and, depending on the level of achievement of certain performance-based hurdles during the three-year performance period ended on December 31, 2025 (the "Measurement Period"), the actual number of 2023 RSUs earned could range from 0% to 200% of Target 2023 RSUs. On January 29, 2026, 17,300 2023 RSUs, equating to 123.1% of Target 2023 RSUs, vested based on the achievement of certain performance goals during the Measurement Period after the Corporate Governance and Compensation Committee of the Board of Directors of Postal Realty Trust, Inc. (the "Issuer") certified the Reporting Person's achievement relative to the applicable performance objectives during the Measurement Period and approved the vesting of the 2023 RSUs with respect to these shares.
- [F10]The LTIP Units were granted in lieu of cash compensation. The price of the securities acquired by the Reporting Person is based on the volume weighted average price of the Issuer's Class A common stock for the 10 trading days immediately preceding February 1, 2026, which was $17.7136
- [F11]The Reporting Person may earn between 0% and 200%, inclusive, of the Restricted Stock Units granted herein (the "2026 RSUs").
- [F12]The 2026 RSUs are market-based awards that are subject to, and will vest upon, achievement of certain performance-based hurdles and continued employment with the Issuer during the three-year performance period ending on December 31, 2028. Upon vesting, the 2026 RSUs that vest will be settled in shares of the Issuer's Class A common stock and the Reporting Person will be entitled to receive the distributions that would have been paid with respect to each share of the Issuer's Class A common stock received upon settlement on or after the date the 2026 RSUs were initially granted.
- [F2]In accordance with the Issuer's 2019 Equity Incentive Plan, as amended (the "Plan"), the 2023 RSUs convert into the Issuer's Class A common stock on a one-for-one basis.
- [F3]Reflects shares of the Issuer's Class A common stock withheld to satisfy a tax withholding obligation in connection with the vesting of 2023 RSU's reported herein.
- [F4]Reflects a grant of restricted shares of the Issuer's Class A common stock that vest ratably on the first, second and third anniversaries of February 1, 2026, subject to the Reporting Person's continued service as an employee through the applicable vesting date.
- [F5]Reflects shares of the Issuer's Class A common stock withheld to satisfy a tax withholding obligation in connection with the vesting of restricted stock awards granted to the reporting person on January 31, 2023, February 12, 2024 and January 31, 2025.
- [F6]Each RSU represents a contingent right to receive shares of the Issuer's Class A common stock.
- [F7]Following the occurrence of certain events and upon vesting, the LTIP Units are convertible into an equivalent number of limited partnership units ("OP Units") of Postal Realty LP (the "Operating Partnership"). OP Units are redeemable by the Reporting Person for cash or, at the election of the Issuer, shares of Class A common stock of the Issuer on a one-for-one basis or the cash value of such shares. LTIP Units do not have expiration dates.
- [F8]Reflects LTIP Unit grants in lieu of cash compensation that vest on the eighth anniversary of February 1, 2026, subject to certain conditions.
- [F9]The LTIP Units are a class of limited partnership units of the Operating Partnership.
Signature
/s/ Joseph Antignani, attorney-in-fact|2026-02-02