# EDGAR Filing Document

**Accession Number:** 0001759774
**File Stem:** 0001213900-25-091369
**Filing Date:** 2025-9
**Character Count:** 14968
**Document Hash:** 6feeea9e852ac1aa86de9970805b80a9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-091369.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0001213900-25-091369

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250922

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Postal Realty Trust, Inc.
- **CENTRAL INDEX KEY:** 0001759774
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 832586114
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38903
- **FILM NUMBER:** 251340232

**BUSINESS ADDRESS:**
- **STREET 1:** 75 COLUMBIA AVE
- **CITY:** CEDARHURST
- **STATE:** NY
- **ZIP:** 11516
- **BUSINESS PHONE:** 576-295-7820

**MAIL ADDRESS:**
- **STREET 1:** 75 COLUMBIA AVE
- **CITY:** CEDARHURST
- **STATE:** NY
- **ZIP:** 11516

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): September 22, 2025**

**<u>POSTAL REALTY TRUST, INC.</u>**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Maryland** | **001-38903** | **83-2586114** |
| (State or other jurisdiction <br> of Incorporation or organization) | Commission File Number | (I.R.S. Employer <br> Identification No.) |

---

**75 Columbia Avenue**

**Cedarhurst, NY 11516**

(Address of principal executive offices and zip code)

**(516) 295-7820**

(Registrant's telephone number)

**Not Applicable**

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-I2 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.I4d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| <br> **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Class A Common Stock, par value $0.01 per share | PSTL | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02** **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On September 22, 2025, the Board of Directors (the "<u>Board</u>") of Postal Realty Trust, Inc. (the "<u>Company</u>") appointed Stephen Bakke to serve as the Executive Vice President, Chief Financial Officer of the Company, effective on or about November 5, 2025 (the "<u>Hire Date</u>"). Mr. Bakke will succeed Jeremy Garber, the Company's President, Treasurer and Secretary who has served as the Company's interim Chief Financial Officer since June 18, 2025. Effective upon the Hire Date, Mr. Garber shall cease serving as interim Chief Financial Officer but shall remained employed as the Company's President, Treasurer and from and after the Hire Date, with no alterations to his compensation.

Mr. Bakke, 40, previously served as Senior Vice President, Corporate Finance for Realty Income Corp. In his role, he oversaw capital markets, investor relations, financial planning & analysis, and derivatives. Prior to his time at Realty Income Corp., Mr. Bakke served as Senior Vice President of Capital Markets at Site Centers Corp., where he was responsible for capital markets, asset management, and investor relations. Mr. Bakke also held public equity investor and research analyst roles including at Surveyor Capital and Green Street Advisors. Mr. Bakke holds a Bachelor of Science in Operations Research and Information Engineering from Cornell University and is a CFA Charterholder. Mr. Bakke is also a member of Nareit.

In connection with his appointment as the Chief Financial Officer of the Company, Mr. Bakke and the Company have entered into an Offer Letter, which will govern the terms and conditions of Mr. Bakke's employment with the Company (the "<u>Offer Letter</u>"). Pursuant to the terms of the Offer Letter, Mr. Bakke will receive an annual base salary of $275,000. For the year ending December 31, 2025, Mr. Bakke will be entitled to a cash bonus in an amount equal to $100,000 (the "<u>2025 Bonus</u>"). The 2025 Bonus will be paid by February 27, 2026. In addition, on the Hire Date, Mr. Bakke will be granted $500,000 (the "<u>Bonus Deferral Amount</u>") which will be deferred into the Company's Alignment of Interest Program (the "<u>AOI Program</u>") under the Company's 2019 Equity Incentive Plan subject to an 8-year cliff vest and the other vesting criteria of the Company's AOI Program. The Bonus Deferral Amount will vest on December 31, 2026, and any LTIP Units or restricted shares of Class A common stock of the Company (the "<u>Restricted Stock</u>") that Mr. Bakke is entitled to under the Company's AOI Program due to his deferral of the Bonus Deferral Amount will vest on the 8-year anniversary of the Hire Date.

For the year ending December 31, 2026, Mr. Bakke is expected to be eligible to receive (i) an annual incentive bonus with a target bonus of 110% of his annual base salary, with the actual amount of such bonus to be determined by the Corporate Governance and Compensation Committee of the Board (the "<u>Compensation Committee</u>"), using such performance measures as the Compensation Committee deems to be appropriate and (ii) long-term incentive awards under the Company's 2019 Equity Incentive Plan, as determined by the Compensation Committee from time to time, with a target award of 120% of his annual base salary. In addition, Mr. Bakke will be entitled to participate in the Company's employee stock purchase plan and will also be eligible to participate in the Company's health insurance, 401k, life insurance and disability coverage. Mr. Bakke is also eligible to participate in the Company's AOI Program, where eligible participants may elect to receive LTIP units or Restricted Stock or a mix of both, in lieu of up to 100% of any compensation otherwise payable in cash. Mr. Bakke's employment with the Company is "at will" and can be terminated with or without cause, with or without notice, at any time, and at the option of either the Company or Mr. Bakke.

There are no arrangements or understandings between Mr. Bakke and any other person pursuant to which he was appointed to serve as Chief Financial Officer of the Company. The Company is not aware of any transactions or existing relationships in which Mr. Bakke has a direct or indirect material interest that would require disclosure pursuant to Item 404(a) of Regulation S-K other than as set forth herein, and is not aware of any family relationship between Mr. Bakke and the Company's executive officers, directors or any person nominated to become a director or executive officer of the Company that would require disclosure under Item 401(d) of Regulation S-K. Except as disclosed above, no other material plan, contract, or arrangement was entered into or materially amended by the Company in connection with Mr. Bakke's appointment, and there was no grant or award made by the Company to Mr. Bakke or modification thereto under any such plan, contract, or arrangement in connection with his appointment.

**Item 7.01** **Regulation FD Disclosure.**

The Company issued a press release on September 25, 2025, announcing the appointment of Mr. Bakke as the Chief Financial Officer of the Company. A copy of that press release is attached hereto as Exhibit 99.1.

The information in this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section and shall not be deemed incorporated by reference in any filing made by the Company under the Securities Act or the Exchange Act, except as set forth by specific reference in such filing.

**Item 9.01. Financial Statements and Exhibits.**

*(d)* *Exhibits.* 

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| | |
|:---|:---|
| **Exhibit No.** | **Document** |
| 99.1 | [Press Release, dated September 25, 2025, issued by Postal Realty Trust, Inc.](ea025861101ex99-1_postal.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 25, 2025

---

| | | |
|:---|:---|:---|
| **POSTAL REALTY TRUST, INC.** | **POSTAL REALTY TRUST, INC.** | **POSTAL REALTY TRUST, INC.** |
| By: | /s/ Jeremy Garber | /s/ Jeremy Garber |
|  | Name: | Jeremy Garber |
|  | Title: | Interim Chief Financial Officer, President, Treasurer and Secretary |

---

## Exhibit 99.1

**Exhibit 99.1**

**Postal Realty Trust, Inc. Appoints Steve Bakke as Chief Financial Officer**

**CEDARHURST, NEW YORK, September 25, 2025 (GLOBE NEWSWIRE)** —Postal Realty Trust, Inc. (NYSE: PSTL) (the "Company"), an internally managed real estate investment trust that owns and manages over 2,200 properties leased primarily to the United States Postal Service (the "USPS"), ranging from last-mile post offices to industrial facilities, today announced the appointment of Steve Bakke as Executive Vice President, Chief Financial Officer and the Company's Principal Financial Officer effective on or about November 5, 2025. He will be based at the Company's headquarters in Cedarhurst, NY.

"We are pleased to welcome Steve to Postal Realty," stated Andrew Spodek, Chief Executive Officer. "Steve's track record of success in Capital Markets, Financial and Corporate Strategy, and Investor Relations will complement us well. Additionally, his extensive experience on both the REIT buy side and sell side will bring a valuable perspective to the Company as we continue to expand our portfolio. I would like to thank our President Jeremy Garber for stepping in as Interim Chief Financial Officer. His service to the Company and shareholders has, and continues to be, greatly valued."

Mr. Bakke added, "I'm grateful to the management team and Board of Directors for the exciting opportunity to join the team at Postal Realty as Chief Financial Officer. The Company has a truly unique and compelling business model with proven internal and external growth. I look forward to working with the team to execute its disciplined financial strategy, cultivate access to capital, and broaden its relationships with key REIT industry stakeholders."

Mr. Bakke joins Postal Realty Trust from Realty Income Corp. (NYSE: O), where he most recently served as Senior Vice President, Corporate Finance. In his role, he oversaw Capital Markets, Financial Planning & Analysis, and Investor Relations. Prior to Realty Income, he served as Senior Vice President of Capital Markets at Site Centers Corp. (NYSE: SITC) in New York. Mr. Bakke worked on the buy side at Third Avenue Management and Surveyor Capital after beginning his career as a Research Analyst with Green Street. He holds a Bachelor of Science in Operations Research and Information Engineering from Cornell University and is a CFA Charterholder.

Mr. Bakke was selected following a comprehensive search led by Marcus & Associates.

**Forward-Looking and Cautionary Statements**

This press release contains "forward-looking statements." Forward-looking statements include statements identified by words such as "could," "may," "might," "will," "likely," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "continues," "projects" and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements, including, among others, statements regarding the Company's anticipated growth and ability to obtain financing and close on pending transactions on the terms or timing it expects, if at all, are based on the Company's current expectations and assumptions regarding capital market conditions, the Company's business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company's actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the USPS's terminations or non-renewals of leases, changes in demand for postal services delivered by the USPS, the solvency and financial health of the USPS, competitive, financial market and regulatory conditions, disruption in market, general real estate market conditions, the Company's competitive environment and other factors set forth under "Risk Factors" in the Company's filings with the Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

**About Postal Realty Trust, Inc.**

Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns and manages over 2,200 properties leased primarily to the USPS. More information is available at postalrealtytrust.com.

**Contact:**

Investor Relations and Media Relations

Email: Investorrelations@postalrealtytrust.com

Phone: 516-232-8900