Schwimmer Howard 4
4 · Rexford Industrial Realty, Inc. · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Rexford (REXR) Co-CEO Howard Schwimmer Receives 80,096 Performance Units
What Happened
Howard Schwimmer, Co‑Chief Executive Officer, Co‑President and a director of Rexford Industrial Realty (REXR), was granted/received 80,096 Performance Units (derivative award) that vested. The filing shows no cash price per unit (award/derivative). These Performance Units include 5,775 distribution equivalent units and became nonforfeitable as of December 31, 2025; the compensation committee certified vesting on February 16, 2026.
Key Details
- Transaction date: 2026-02-16; Form 4 filed: 2026-02-18 (timely filing).
- Security: 80,096 Performance Units (derivative award; code A). Price: N/A (award).
- Award includes 5,775 distribution equivalent units; vested as of 12/31/2025 and certified 2/16/2026.
- Shares/units owned after transaction (per footnote): 751,019 LTIP Units; 119,320 OP Units; 624,194 Shares (some held in trusts; Schwimmer disclaims beneficial ownership of trust-held amounts except for pecuniary interest).
- Vesting/convertibility: Performance Units can convert over time into OP Units on a 1:1 basis if parity is achieved; OP Units are redeemable for Rexford common shares or cash at the issuer's election.
Context
- These Performance Units are compensation that vested based on performance metrics (measurement period ended 12/31/2025). No shares were sold or bought in this filing — it reports earned, vested equity.
- Because these are derivative/award units (not an open‑market purchase or sale), they reflect compensation outcomes rather than a direct insider buy/sell signal.
Insider Transaction Report
Form 4
Schwimmer Howard
DirectorCo-CEO, Co-President
Transactions
- Award
Performance Units
[F1][F2][F3]2026-02-16+80,096→ 657,712 total→ Common Stock, par value $0.01 (80,096 underlying)
Footnotes (3)
- [F1]Performance Units are a class of limited partnership units in Rexford Industrial Realty, L.P., the operating partnership of the Issuer (the "Operating Partnership"). Initially, the Performance Units do not have full parity with common limited partnership units of the Operating Partnership ("OP Units") with respect to liquidating distributions. However, upon the occurrence of certain events described in the Operating Partnership's partnership agreement, the Performance Units can over time achieve full parity with the OP Units for all purposes. If such parity is reached, vested Performance Units may be converted into an equal number of OP Units on a one for one basis at any time at the request of the Reporting Person or the general partner of the Operating Partnership. OP Units are redeemable by the holder for an equivalent number of shares of the Issuer's common stock ("Shares") or for the cash value of such Shares, at the Issuer's election.
- [F2]Reflects Performance Units that were initially granted on November 8, 2022, pursuant to the Second Amended and Restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P 2013 Incentive Award Plan, that were subject to performance-based vesting conditions. On December 31, 2025, the measurement period for the performance award ended and on February 16, 2026, the compensation committee of the board of directors certified that 80,096 Performance Units were earned and vested. The number of vested Performance Units reported herein includes 5,775 distribution equivalent units. The vested Performance Units are nonforfeitable as of December 31, 2025.
- [F3]The Reporting Person also owns the following securities: (i) 751,019 LTIP Units, a class of limited partnership units in the Operating Partnership, (ii) 119,320 OP Units, of which 935 OP Units are held by the Schwimmer Living Trust dated December 14, 2001 (the "Living Trust") of which the Reporting Person is a trustee, and of which 42,002 OP Units are held by the Schwimmer Family Irrevocable Trust (the "Family Trust") of which the Reporting Person is a trustee, and (iii) 624,194 Shares, of which 13,575 Shares are held by the Family Trust of which the Reporting Person is a trustee. The Reporting Person disclaims beneficial ownership of the OP Units and Shares held by the Living Trust and the Family Trust, except to the extent of his pecuniary interest therein.
Signature
/s/ Howard Schwimmer|2026-02-18