Postal Realty Trust, Inc. — Director's Dealing 2021

Feb 17, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Postal Realty Trust, Inc. (PSTL)
CIK: 0001759774
Period of Report: 2021-02-11

Reporting Person: Spodek Andrew (Director, CEO and Director, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-11	LTIP Units	$	A	118305	Acquired		Class A common stock (118305)	Direct
2021-02-11	LTIP Units	$	A	18954	Acquired		Class A common stock (18954)	Direct
2021-02-11	Restricted Stock Units	$	A	18954	Acquired		Class A common stock (18954)	Direct

Footnotes

F1: The LTIP Units are a class of limited partnership units of Postal Realty, LP (the "Operating Partnership").

F2: Following the occurrence of certain events and upon vesting, the LTIP Units are convertible by the Issuer into an equivalent number of units of the Operating Partnership ("OP Units"). OP Units are redeemable by the Reporting Person for cash or, at the election of Postal Realty Trust, Inc. (the "Issuer"), shares of Class A common stock of the Issuer on a one-for-one basis or the cash value of such shares. LTIP Units do not have expiration dates.

F3: Reflects LTIP Unit grants in lieu of cash compensation that vest on the eighth anniversary of February 1, 2021, subject to certain conditions.

F4: The LTIP Units were granted in lieu of cash compensation. The price of the securities acquired by the Reporting Person is based on the average price of the Issuer's Class A common stock for the 10 trading days immediately preceding February 1, 2021, which was $16.04.

F5: The LTIP Units will vest ratably on the first, second and third anniversaries of December 31, 2020, subject to continued employment with Postal Realty Trust, Inc. (the "Issuer")

F6: The Reporting Person may earn up to 100% of the Restricted Stock Units granted.

F7: The Restricted Stock Units are market-based awards and are subject to and will vest upon achievement of performance-based hurdles relating to the Issuer's absolute total stockholder return and continued employment with the Issuer during the period from the grant date through December 31, 2023. Upon vesting, the Restricted Stock Units that vest will be settled in shares of the Issuer's Class A common stock and the Reporting Person will be entitled to receive the distributions that would have been paid with respect to each share of the Issuer's Class A common stock received upon settlement on or after the date the Restricted Stock Units were initially granted.