CEDARHURST, N.Y.--(BUSINESS WIRE)--Postal Realty Trust, Inc. (NYSE:PSTL), an internally managed real estate investment trust that owns and manages properties leased to the United States Postal Service (USPS), today announced the Company’s founder, Chief Executive Officer and director, Andrew Spodek, entered into a trading plan (the “10b5-1 plan”) pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (“Rule 10b5-1”). It is Mr. Spodek’s intention to acquire shares of the Company’s common stock consistent with certain timing, volume and price limitations.
The trading plan was entered into on August 16, 2019 and will become effective on September 16, 2019. Under the terms of the plan, Mr. Spodek will be able to purchase up to 100,000 shares of the Company’s common stock, subject to price and trading limitations.
Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they do not have material, non-public information. Using these plans, insiders may gradually acquire stock over a period of time regardless of any material, non-public information they may receive after adopting a plan. In accordance with Rule 10b5-1, Mr. Spodek will have no discretion over purchases under the plan. Because the purchases under the plan are subject to certain market pricing parameters and trading limitations, there is no guarantee as to the exact number of shares that will be purchased under the plan, or that there will be any purchases pursuant to the plan. Details of the transactions will be publicly available through Form 4 filings with the Securities and Exchange Commission. The 10b5-1 plan has been approved pursuant to the Company’s Insider Trading Policy.
About Postal Realty Trust, Inc.
The Company is an internally managed real estate investment trust that owns and manages properties leased to the USPS. The Company owns and manages a portfolio of 274 postal properties located in 42 states comprising 908,338 net leasable interior square feet, all of which are leased to the USPS.