Postal Realty Trust Inc-A 2025年度报告

FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file no: 001-38903 75 Columbia AvenueCedarhurst, NY 11516(Address of principal executive offices) (Zip Code)Registrant’s telephone number, including area code:(516) 295-7820Securities registered pursuant to Section 12(b) of the Act: Name of Each Exchange on WhichRegistered Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness ofits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Exchange Act, indicate by check mark whether financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☒ As of June 30, 2025, the aggregate market value of the registrant’s Class A common stock held by non-affiliates of the registrant wasapproximately $336.0 million, based on the closing sales price of $14.73 per share on June 30, 2025, as reported on the New York StockExchange. As of February24, 2026, the registrant had 27,467,131 shares of Class A common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Definitive Proxy Statement for the 2026 Annual Meeting of Stockholders (to be filed with the Securities andExchange Commission no later than 120 days after the end of the registrant’s fiscal year end) are incorporated by reference in this AnnualReport on Form 10-K in response to Part II, Item 5 and Part III, Items 10, 11, 12, 13 and 14. POSTAL REALTY TRUST, INC.ANNUAL REPORT ON FORM10-KFOR THE FISCAL YEAR ENDED DECEMBER31, 2025 TABLE OF CONTENTS ITEM1.BUSINESS1ITEM 1A.RISK FACTORS5ITEM 1B.UNRESOLVED STAFF COMMENTS35ITEM 1C.CYBERSECURITY35ITEM 2.PROPERTIES36ITEM 3.LEGAL PROCEEDINGS37ITEM 4.MINE SAFETY DISCLOSURES37 ITEM 5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUERPURCHASES OF EQUITY SECURITIES38ITEM 6.RESERVED38ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS38ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK50ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATAF-1ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIALDISCLOSURE51ITEM 9A.CONTROLS AND PROCEDURES51ITEM 9B.OTHER INFORMATION51ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS52 ITEM 10.DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE53ITEM 11.EXECUTIVE COMPENSATION53ITEM 12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATEDSTOCKHOLDER MATTERS53ITEM 13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE53ITEM 14.PRINCIPAL ACCOUNTANT FEES AND SERVICES53 ITEM 15.EXHIBITS AND FINANCIAL STATEMENT SCHEDULES54ITEM 16.FORM 10-K SUMMAR