FAQs

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When did Phillips Edison execute its underwritten IPO (initial public offering)?
  • On July 14, 2021, PECO finalized the pricing of its underwritten IPO. The IPO was priced at $28.00 per share.
  • On July 15, 2021, the newly issued common stock (the shares issued in the IPO) began trading on the Nasdaq, under the ticker symbol PECO.
  • On August 2, 2021, PECO announced that the full overallotment of the IPO was exercised.
  • The total gross proceeds of the IPO, including the overallotment, were approximately $547 million.
  • For the current price per share of Phillips Edison’s Nasdaq-listed common stock, please visit nasdaq.com/market-activity/stocks/peco.
How did the IPO impact Phillips Edison’s former non-traded REIT investors (Class B Common Stockholders)?
  • Prior to the IPO, shares held by PECO’s existing stockholders were converted into Class B common stock on July 2, 2021.
  • Class B common stock remained illiquid until January 18, 2022. On this date, the Class B shares automatically converted into PECO’s Nasdaq-listed common stock.
  • The conversion of the Class B common stock into the Nasdaq-listed common stock was not a taxable event.
  • The capital raised in the IPO can help PECO grow over the long term, and the IPO has provided liquidity to PECO’s former non-traded REIT investors.
  • See “Can I sell my stock?” below for more details.
When did the Phillips Edison Class B common stock convert into the Phillips Edison Nasdaq-listed common stock?
  • On January 18, 2022, 100% of the Phillips Edison Class B common stock converted into Phillips Edison’s Nasdaq-listed common stock (on a one-for-one basis).
  • Starting on January 19, 2022, Phillips Edison’s Nasdaq-listed common stock can be electronically transferred via ACAT, DWAC, or DRS.
What will happen to fractional Class B shares upon the conversion into the Nasdaq listed Common Stock on January 18, 2022?
  • Because only whole shares can be converted into the Nasdaq-listed common stock, any fractional shares were automatically sold into the open market on January 18, 2022.
  • Class B stockholders received cash proceeds of this sale in lieu of the fractional share that they were otherwise be entitled to receive. Class B stockholders received the proceeds via physical check sent to their address of record or deposit to custodian (if appliable). Payments are expected to be distributed to investors by the end of January 2022.
  • For example: If an investor held 1,234.567 shares of Class B common stock, PECO sold 0.567 shares into the open market, and the investor received the proceeds of the sale in cash form. The sale price was $31.63 per share.
  • Non-qualified accounts will receive tax documents related to the fractional share sale (i.e., 1099-B) from Computershare (or custodian), along with their 1099-DIV for the 2022 tax year. These forms will be delivered in early 2023.
Can I sell my stock?
  • On January 18, 2022, PECO’s Class B shares automatically converted into the Nasdaq-listed common stock and became eligible to be traded on the Nasdaq.
  • For custodial-held accounts, please contact your financial advisor or custodian on how to execute trades.
  • For accounts held with Computershare, shares can be sold the following ways:
  • Please note:
    • Computershare can only accept orders for less than $100,000 over the phone
    • Computershare can only accept orders for less than $1,000,000 through PECO’s Investor Center.
    • Sell requests exceeding these amounts (held directly with Computershare) can only be executed using PECO’s Stock Sale Form.
    • Sell requests for partnerships or corporations (held directly with Computershare) cannot be made over the phone or online. They can only be executed using PECO’s Stock Sale Form.
    • PECO recommends transferring shares to a brokerage account to better facilitate transactions. Please contact your brokerage firm for more information.
Can I transfer my shares to my broker or my brokerage account?
  • Reach out to your broker and request the shares be transferred through the Depository Trust Company’s Direct Registration Profile System (a.k.a. “DRS Transfer”)
  • You need to supply your broker with a copy of your latest statement and the following information:
    • Your Computershare account number (on your statement)
    • Your Social Security Number
    • Computershare’s DTC number, 7807
    • The number of whole shares you wish to move from your Computershare account to your brokerage account
  • Advisors can access their client statements here: www.computershare.com/advisorportal
  • Investors can access their statements here: www.computershare.com/peco
  • Investors were mailed their December 31, 2021 statements in early January.
How can I find out the performance of my investment?
  • Details on investors’ original investment amount and distributions received since inception are printed on the quarterly statements, which are mailed to investors following each quarter.
  • This reporting started with the second quarter 2021 statements, which were mailed to investors in July 2021 and has continued each quarter since.
  • Starting with the third quarter 2021 statements, cost basis information is included as well. See “Why is my cost basis lower than my purchase price” below for additional information.
  • Advisors can access their client statements here: www.computershare.com/advisorportal
  • Investors can access their statements here: www.computershare.com/peco
  • Investors were mailed their December 31, 2021 statements in early January.
What is the value of my stock?
Does Phillips Edison pay dividends to its investors?
  • Historical and recent distribution information is available here, including record and payment dates.
  • Investors are required to receive their monthly distributions in cash as the company suspended its dividend reinvestment program starting after the March 1, 2021, distribution. The dividend reinvestment program was terminated in August 2021.
  • The Nasdaq-listed common shares and the Class B common shares received the same distribution.
  • Distributions are determined by the PECO Board of Directors on a periodic basis. Distributions are not guaranteed.
Does PECO have a dividend reinvestment program (“DRIP”) where I can automatically reinvest my distributions to buy more PECO stock?
  • PECO does not have an active dividend reinvestment program.
  • However, many brokerage accounts allow investors to use dividend proceeds to buy shares of a given stock in the open market. This will allow for the purchase of more PECO stock in the open market on a regular basis.
  • Please check with the brokerage firm for more information.
  • Accounts held directly with our transfer agent, Computershare, cannot participate in any reinvestment programs at this time.
Why is my cost basis lower than my purchase price?
  • Throughout PECO’s history, distributions have included non-taxable (also known as return of capital) and taxable dividends. Typically, non-taxable (return of capital) dividends lower an individual’s cost basis.
  • It’s important to note that an investor’s original purchase price and cost basis are not necessarily the same amount.
  • The conversion of the Class B common stock into the Nasdaq-listed common stock was not a taxable event.
  • Because PECO has distributed non-taxable (return of capital) dividends, an individual’s cost basis is usually lower than the original purchase price.
  • This is particularly relevant to our investors that originally invested in Phillips Edison Grocery Center REIT I, Inc. (“REIT I”).
  • Investors that originally invested in Phillips Edison Grocery Center REIT II, Inc. (“REIT II”) are less affected.
  • Where appliable, investors’ cost basis information is printed their statement.
  • Advisors can access their client statements here: www.computershare.com/advisorportal
  • Investors can access their statements here: www.computershare.com/peco
  • Investors were mailed their December 31, 2021 statements in early January.
  • Cost basis details are available to financial advisors via the Computershare Financial Advisor Portal.
  • Cost basis details are available to investors via their online account with Computershare – under the Activity / Transactions heading.
  • Please consult your financial advisor, custodian, or tax professional for details on your cost basis.
When will 2021 tax forms be mailed to investors?
  • 2021 tax forms will be mailed to applicable investors no later than mid-February
  • Additional tax information is available on the PECO Investor website, under the Tax Matters Tab.
  • What was the tax treatment of the 2020 distributions to common stockholders?
  • Return of Capital (non-taxable distribution): 0%
  • Ordinary dividends (taxable distribution): 100.00%
  • Capital Gain distribution: 0%
Does PECO have a Share Repurchase Program (“SRP”) or is the company buying back stock?
  • If you are looking for liquidity, you can sell your shares in the open market. See “Can I sell my stock” above.
How can I stay up to date on the recent Phillips Edison news and events?
What is PECO’s CUSIP?
  • PECO’s Nasdaq-listed Common Stock CUSIP: 71844V201
    • INACTIVE:
      • PECO’s common stock prior to the reverse stock split CUSIP: 71844V102
      • PECO’s Class B Common Stock CUSIP: 71844V300
  • On January 18, 2021, 100% of PECO Class B Common Stock converted on a one-for-one basis into PECO’s Nasdaq-listed Common Stock (CUSIP: 71844V201). Following the conversion, the Class B Common Stock CUSIP is inactive.
Did the company do a stock split?
  • On July 2, 2021, PECO executed a one-for-three reverse stock split of each issued and outstanding share of PECO’s common stock.
  • On the same day, PECO executed a reclassification of its stock such that each outstanding share of common stock was converted into a share of Class B common stock.
  • PECO’s Board of Directors approved the stock split on June 14, 2021, and PECO’s stockholders approved the reclassification on June 18, 2021.
  • Although the reverse stock split reduced PECO’s total shares of common stock outstanding, it affected all stockholders equally and proportionally. PECO’s business remains unchanged and there is no economic impact to PECO’s stockholders.
  • Stockholders received more details with their June 30, 2021, statement and received a statement thereafter that reflected the reverse split.
How do I access my account online?
Who is Phillips Edison’s Transfer Agent?
Computershare is the Transfer Agent for Phillips Edison & Company stockholders. Click here for additional information.
  • Computershare. (888) 518-8073
    • Regular Mail:
      Computershare Alternative Investments
      P.O. Box 505013
      Louisville, KY 40233-5013

    • Overnight Delivery:
      Computershare Alternative Investments
      462 South 4th Street, Suite 1600
      Louisville, KY 40202
How do I contact Phillips Edison?
  • General financial advisor inquiries: Phillips Edison Advisor Services:
    • (833) 347-5717; Monday - Friday, 9 a.m. - 5 p.m. ET
  • Financial advisor inquiries related to a reference number or online access:
    • (888) 518-8073; Monday - Friday, 8:30 a.m. - 6 p.m. ET
  • Class B (non-traded REIT) investor inquiries:
    • (888) 518-8073; Monday - Friday, 8:30 a.m. - 6 p.m. ET
  • Email: InvestorRelations@phillipsedison.com