Wang Parilee Edison 4

What Happened Wang Parilee Edison, a director of Phillips Edison & Company, Inc. (PECO), was granted 2,901 Class B limited partnership units in Phillips Edison Grocery Center Operating Partnership I, L.P. The grant is reported as a derivative award (Form 4 transaction code A) with an acquisition price of $0. These Class B Units are not common stock today but can convert into OP Units (and thus be exchangeable for PECO common stock or cash) upon satisfying parity and vesting conditions.

Key Details

• Transaction date: 2026-05-12 (reported on Form 4 filed 2026-05-14).
• Instrument: 2,901 Class B Units (derivative award), reported at $0 acquisition price.
• Filing timeliness: Reported two days after the transaction (timely within normal Form 4 window).
• Post-transaction beneficial ownership: Not specified in the filing.
• Footnotes of note:
  • F2: These are Class B Units that initially lack full parity with OP Units but may achieve parity over time and convert into OP Units.
  • F3: The Class B Units will vest in full on the earlier of (i) the first anniversary of the grant or (ii) the next annual meeting at least 50 weeks after the prior meeting, subject to continued service.
  • F1: OP Units are exchangeable, at holder election, for cash equal to a share’s fair market value or for shares of PECO common stock on a one-for-one basis.

Context This was an equity compensation award (not an open-market purchase or sale). Because the units are derivative and subject to vesting and conversion conditions, they do not represent immediately tradable shares. Such grants are common as director compensation and should be interpreted as company compensation activity rather than a direct purchase indicating immediate insider bullishness.