Modiv (MDV) EVP Raymond Pacini Sells Shares, Exercises Options

What Happened

• Raymond J. Pacini, Executive Vice President of Modiv Industrial, reported transactions on Aug 12, 2026 tied to the company’s merger. He disposed of 115,580.5 shares to the issuer and processed derivative transactions involving 65,000 shares (exercise/conversion at $0.00). The filing shows no cash sale proceeds reported; the derivative exercise/conversion entries are recorded at $0.00.

Key Details

• Transaction date: 2026-08-12.
• Disposition: 115,580.5 Modiv shares reported “disposed to the issuer” (price shown as N/A in the filing).
• Derivative activity: 65,000-share exercise/conversion entries and related dispositions recorded at $0.00 (reported as code M and D in the filing).
• Shares owned after the transactions: not disclosed in the provided filing excerpt.
• Footnotes: transactions relate to a merger (see F1–F4). Under the merger terms each Modiv share converted into the right to receive 1.975 shares of Global Net Lease (GNL) common stock (F2), and related limited-partnership unit conversions occurred for the operating partnership (F3–F4). F5 notes some securities are held in a revocable trust for family members.
• Filing timeliness: Form filed same day (2026-08-12) for the reported transaction date, indicating the filing appears timely.

Context

• These transactions were merger-related conversions and dispositions (not an open-market sale). The $0.00 exercise/conversion entries and “disposed to the issuer” language reflect conversion/surrender of Modiv securities into consideration under the merger, including receipt of GNL shares at the 1.975 exchange ratio and cash in lieu of fractional shares per the merger agreement. Such merger-driven conversions generally reflect deal mechanics rather than a standard insider buy/sell signal.