Form 4: Phillips Edison & Company CEO Jeffrey Edison Reports Conversion of Class B and C Units to OP Units

Jeffrey Edison, Chairman and CEO of Phillips Edison & Company, reports the vesting and conversion of Class B and C Units into OP Units, as well as transactions related to various trusts.

Summary

• Jeffrey Edison, Chairman and CEO of Phillips Edison & Company, filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• On December 31, 2024, Class C Units were vested and converted into 26,811 OP Units and 3,951.954 OP Units.
• On January 1, 2025, Class B Units were vested and converted into 11,143 OP Units.
• These OP Units are exchangeable for cash or shares of the Issuer's Common Stock on a one-for-one basis.
• Edison also reported beneficial ownership of OP Units held by various trusts, including the Jeffrey Edison Family Trust (2,424,405.871), Sprinkles Trust LLC (2,150,000), Edison Properties LLC (1,134,215.303), Spouse's Family Trust (479,093.389), Edison Family Trust (431,233.177), Edison Ventures Trust (330,666.876), Old 97, Inc (276,927.452), Spouse's Trust (211,265.707), and Father's Trust (60,583.377).
• Edison disclaims beneficial ownership of shares held by these entities except to the extent of his pecuniary interest.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of insider transactions, which is generally neutral to slightly positive as it reflects the execution of existing compensation plans.

Positives

• The vesting and conversion of Class B and C Units into OP Units reflect the achievement of certain performance milestones related to long-term incentive compensation.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The vesting and conversion of units may have a minor dilutive effect on existing shareholders.

Key Dates