Postal Realty Trust Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
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ITEM 9B. OTHER INFORMATION
On December 14, 2023, an affiliate of Andrew Spodek, ourchief executive officer, terminated its previously disclosed pre-arranged trading plan, which was entered into on May 11, 2023, and entered into a new pre-arranged trading plan (the “10b5-1 plan”) that is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. Under the new 10b5-1 plan, the affiliate of Mr. Spodek can purchase up to 70,000 shares of our Class A common stock between March 14, 2024 and March 13, 2025, subject to price and trading limitations under the plan.
On February 29, 2024, we mutually terminated the open market sale agreement dated November 4, 2022 with Janney Montgomery Scott LLC in connection with our ATM Program. For description of the material terms and conditions of the terminated sale agreement and details regarding our ATM Program, see Item 7. "Management’s Discussion and Analysis of Financial Condition and Results of Operations—Overview—ATM Program.” We did not incur any penalties as a result of such termination.
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