Frankel Michael S. 4

What Happened

• Michael S. Frankel, a director of Rexford Industrial Realty, surrendered (disposed) 281,813 shares of common stock on April 9, 2026 at $34.28 per share, for a total value of approximately $9,660,550. The disposition is reported under transaction code F (tax withholding) and reflects shares surrendered to cover tax withholding obligations upon a vesting event.

Key Details

• Transaction date and price: April 9, 2026 — 281,813 shares at $34.28 each (total ≈ $9,660,550).
• Vesting related: The filing notes 560,406 restricted shares vested on April 9, 2026; 281,813 shares were surrendered to the issuer to satisfy tax withholding on that vesting (footnote F1).
• Shares owned after transaction: The filing does not state the reporter’s total beneficial ownership following this transaction.
• Derivative holdings: The reporter also disclosed ownership of 753,991 LTIP Units and 612,967 Performance Units (limited partnership units in the operating partnership) (footnote F2).
• Filing timing: The Form 4 was filed April 13, 2026 for an April 9 transaction (filed four days after the trade). SEC rules generally require Form 4s within two business days; the filing appears later than that window — review the official filing for any explanation.

Context

• This was a tax-withholding surrender (transaction code F), not an open-market sale. Such disposals are routine when restricted stock vests and shares are surrendered to cover taxes; they do not necessarily indicate a change in the insider’s view of the company.
• The filing also lists substantial LTIP and Performance Unit holdings, which are forms of long-term compensation/partnership interests rather than common stock.