Brady Tanya 4

What Happened

• Tanya Brady, EVP, General Counsel & Secretary of Phillips Edison & Company (PECO), received three awards on Feb 4, 2026 totaling 7,274.121 partnership units (all reported at $0.00 as awards/derivative grants). These are not open-market purchases or sales but equity awards/units tied to the company’s long‑term incentive plan.

Key Details

• Transaction date: 2026-02-04; Form 4 filed: 2026-02-06 (appears timely — within the typical two business-day reporting window).
• Reported grants: 3,386 units; 502.121 units; 3,386 units — all reported as awards at $0.00 (derivative securities).
• Shares/units owned after transaction: not specified in the provided excerpt; see the full Form 4 for total holdings.
• Footnotes explain these are limited partnership interests in PECO’s operating partnership (OP Units) and related Class B/Class C units:
  • OP Units can be exchanged (at holder election) for cash equal to the fair market value of one share of PECO common stock or, at PECO OP’s option, for PECO common shares on a one‑for‑one basis and have no expiration or vesting.
  • Some units represent performance-based LTIP awards (2023–2025) and vested Class B or Class C units that may convert to OP Units upon achieving parity; certain Class C units may remain unvested and vest on Jan 1, 2027 subject to continued service.
• Nature of transaction: Award/grant of derivative partnership units (code A on Form 4). No cash proceeds and no immediate sale of shares.

Context

• These awards are compensation/performance-based units rather than buy/sell transactions and do not directly signal a personal cash investment or divestiture by the insider.
• Conversion mechanics mean the units can ultimately be settled in cash or converted into PECO common stock (one-for-one) under the partnership agreement when conversion conditions are met.