Form 4: Phillips Edison & Company Director Wang Parilee Edison Reports Acquisition of Class B Units

Director Wang Parilee Edison reports the acquisition of Class B Units in Phillips Edison Grocery Center Operating Partnership I, L.P.

Summary

• On April 30, 2024, Director Wang Parilee Edison reported the acquisition of 3,364 Class B Units in Phillips Edison Grocery Center Operating Partnership I, L.P. (PECO OP).
• These Class B Units do not initially have full parity with OP Units regarding liquidating distributions but can achieve parity over time based on the capital account balance per unit.
• Upon vesting and achieving full parity, the Class B Units convert into an equal number of OP Units.
• The Class B Units will vest in full on the earlier of (i) the first anniversary of the grant date or (ii) the date of the next annual meeting of stockholders that is at least 50 weeks after the immediately preceding year's annual meeting, subject to continued service.
• OP Units are exchangeable for cash equal to the fair market value of one share of the Issuer's Common Stock or, at PECO OP's option, shares of the Issuer's Common Stock on a one-for-one basis.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it is a standard disclosure of a transaction by a company insider. The acquisition of shares by a director can be seen as a positive sign, but it's not a major event.

Positives

• The acquisition of Class B Units by a director signals confidence in the company's prospects.

Future Outlook

The Class B Units will vest based on continued service and the timing of the next annual meeting of stockholders.

Industry Context

Form 4 filings are standard disclosures for corporate insiders, providing transparency into their transactions in the company's securities.

Stakeholder Impact

• The acquisition of Class B Units by a director may have a slightly positive impact on shareholder sentiment.

Key Dates