Postal Realty Trust activist Andrew Spodek’s stake rose to 3.2%, covering 971,128 shares of common and Class B stock. The position matters to investors because his affiliates also hold an approximate 9.2% fully diluted economic interest, including interests in the operating Partnership that are not currently counted as beneficially owned shares.

Key Highlights

  • Spodek beneficially owns 971,128 shares of Postal Realty Trust's common and Class B common stock, representing 3.2% of the class.
  • The reported position includes 1,418,412 OP Units and 1,164,073 LTIP Units.
  • Spodek and his affiliates hold approximately 33.28% of the operating partnership units not owned by Postal Realty Trust.

Postal Realty Trust, Inc. (NYSE: PSTL) reports that Andrew Spodek beneficially owns 971,128 shares, representing 3.2% of the class. The position covers common and Class B common stock, with Spodek holding sole voting and dispositive power. The position is reported in an Amendment No. 1 to Schedule 13D.

The 971,128-Share Position

Spodek’s 971,128 shares comprise 29,346 Class A common shares held directly, 277,518 Class A shares held through the 2016 Spodek Family Trust, and 637,058 Class A shares previously held directly for which he retains voting control. The position also includes 27,206 Class B common shares. Each Class B share can be converted into one Class A common share at Spodek’s option and has no expiration date. The reported 3.2% ownership percentage is based on 30,248,873 Class A shares and 27,206 Class B shares outstanding. Postal Realty Trust’s Class A common stock has a Par Value of $0.01 per share. The reported ownership gives Spodek sole authority over the votes and dispositions attached to the shares covered by the position.

Operating Partnership Interests

Spodek also owns 1,418,412 OP Units in Postal Realty LP, Postal Realty Trust’s majority-owned operating partnership, including 85,300 units acquired through a contribution of properties effective September 4, 2026. He holds another 1,164,073 LTIP Units, of which 1,000,436 remain unvested. The OP Units and LTIP Units provide rights to convert into an equivalent number of common shares. Those conversion rights are not presently convertible within 60 days, and some relate to unvested LTIP Units. Spodek and his affiliates own approximately 33.28% of the operating partnership units not held by Postal Realty Trust.

Ownership Limits Remain

The board may retroactively establish or increase the applicable ownership limit under the Articles. Spodek has been designated an excepted holder, allowing beneficial or constructive ownership of up to 15% of the outstanding common stock, subject to the more restrictive value or share-count test.