Wang Parilee Edison 4

What Happened
Wang Parilee Edison, a director of Phillips Edison & Company, Inc. (PECO), reported the exercise/conversion of 3,290 derivative units on May 1, 2026. The filings show both a disposition and an acquisition of 3,290 units at an exercise price of $0.00 (total reported cash value $0). This reflects the vesting/conversion of previously issued Class B units into OP Units (exchangeable interests), not a cash purchase or sale of common stock.

Key Details

• Transaction date: 2026-05-01; Form filed: 2026-05-04 (filing appears timely).
• Transaction type/code: M — exercise or conversion of a derivative security.
• Quantity: 3,290 units disposed and 3,290 units acquired; exercise price reported $0.00; reported cash consideration $0.
• Shares owned after transaction: not specified in the Form 4.
• Footnotes of note:
  • F2: The activity represents vesting of Class B Units that, upon vesting and having achieved parity, converted into an equal number of OP Units (no expiration).
  • F1: OP Units are limited partnership interests in PECO OP that are exchangeable, at the holder’s election, 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 on a one-for-one basis.

Context
This was a derivative/vesting conversion — not an open-market buy or sell. The director acquired OP Units via conversion of vested Class B Units at no cash cost per the filing; OP Units are exchangeable for the company’s common stock or cash per the partnership agreement. Such conversions are typically administrative/compensation-related and do not necessarily signal a buy/sell decision in the market.