Easterly Government Properties, Inc.'s Chairman was just granted 26,814 restricted shares

Darrell W Crate, Easterly Government Properties, Inc.'s Chairman and a director of the company, just received 26,814 restricted shares from the company. The restricted shares don't become available to Crate until such time as they become vested. Crate now owns at least 26,814 restricted shares of the company.

Some additional info was provided as follows:

Represents a target number of LTIP Units in Easterly Government Properties LP (the "Operating Partnership"), of which the Issuer is the general partner, granted as long-term incentive compensation pursuant to the Issuer's 2015 Equity Incentive Plan, as amended (the "Plan") that may be earned based on the Issuer's performance through December 31, 2018. Subject to continued employment, 50% of the earned LTIP Unit s will vest when earned and 50% of the earned LTIP Units will vest on January 4, 2020. Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in the Operating Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of an LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the fair market value of a share of the Issuer's Common Stock, except that the Issuer may, at its election, acquire each Common Unit so presented for one share of Common Stock. LTIP Units are generally not convertible without the consent of the Issuer until two years from the date of the grant. The rights to convert vested LTIP Units into Common Units and redeem Common Units do not have expiration dates. Represents a target number of LTIP Units in the Operating Partnership granted as long-term incentive compensation pursuant to the Plan that may be earned based on the Issuer's performance through December 31, 2019. Subject to continued employment, 50% of the earned LTIP Units will vest when earned and 50% of the earned LTIP Units will vest on January 4, 2021. Represents a target number of LTIP Units in the Operating Partnership granted as long-term incentive compensation pursuant to the Plan that may be earned based on the Issuer's performance through December 31, 2020. Subject to continued employment, 50% of the earned LTIP Units will vest when earned and 50% of the earned LTIP Units will vest on January 4, 2022.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

To receive a free e-mail notification whenever Easterly Government Properties, Inc. makes a similar move, sign up!

Other recent filings from the company include the following:

Easterly Government Properties, Inc.'s President & CEO just cashed-in 9,000 options - Oct. 4, 2019

Auto Refresh

Feedback