4//SEC Filing
Pacini Raymond J 4
Accession 0001062993-25-001774
CIK 0001645873other
Filed
Feb 4, 7:00 PM ET
Accepted
Feb 5, 8:15 PM ET
Size
12.0 KB
Accession
0001062993-25-001774
Insider Transaction Report
Form 4
Transactions
- Gift
Class X Units
2025-02-03−65,000→ 0 total→ COMMON STOCK, CLASS C (65,000 underlying) - Gift
Class X Units
2025-02-03+65,000→ 65,000 total(indirect: By Trust)→ COMMON STOCK, CLASS C (65,000 underlying) - Award
Class X Units
2025-02-03+65,000→ 65,000 total→ COMMON STOCK, CLASS C (65,000 underlying)
Footnotes (5)
- [F1]Represents Class X units of limited partnership interest ("Class X Units") of Modiv Operating Partnership, LP ("Modiv OP"), the operating partnership of Modiv Industrial, Inc. (the "Company"), and of which the Company is the general partner. Class X Units vest according to the terms of the award agreement pursuant to which the Class X Units were granted to the reporting person. Under the limited partnership agreement of Modiv OP, upon vesting, such Class X Units automatically convert into units of Class C limited partnership interests of Modiv OP ("Class C Units"), provided that the value of Modiv OP has appreciated such that the capital account of the holder of Class X Units is equal to the capital account balance attributable to a Class C Unit on a per unit basis.
- [F2]After such Class C Units have been outstanding for at least one year (inclusive of any holding period for any Class X Units converted into Class C Units), the holder may require Modiv OP to exchange all or a portion of such holder's Class C Units for cash or, at the option of the Company, shares of the Company's Class C Common Stock, $0.001 par value per share (the "Class C Common Stock"), on a one-for-one basis. Class X Units have no expiration date.
- [F3]Represents a grant of unvested Class X Units, all of which vest on February 3, 2027, subject to the reporting person's continued service on such date and subject to acceleration upon certain events.
- [F4]Represents a gift of 65,000 Class X Units by the reporting person to a revocable trust for which the reporting person is the trustee and which was established for the benefit of the reporting person's immediate family members.
- [F5]Represents securities held by a revocable trust of which the reporting person is the trustee and which was established for the benefit of the reporting person's immediate family members.
Issuer
MODIV INDUSTRIAL, INC.
CIK 0001645873
Entity typeother
Related Parties
1- filerCIK 0001331313
Filing Metadata
- Form type
- 4
- Filed
- Feb 4, 7:00 PM ET
- Accepted
- Feb 5, 8:15 PM ET
- Size
- 12.0 KB