Pacini Raymond J 4
4 · Modiv Industrial, Inc. · Filed Apr 1, 2024
Insider Transaction Report
Form 4
Transactions
- Conversion
COMMON STOCK, CLASS C
2024-03-28+110,047.5→ 115,580.5 total - Exercise/Conversion
Class C OP Units
2024-03-28+26,715→ 26,715 total→ COMMON STOCK, CLASS C (26,715 underlying) - Exercise/Conversion
Class C OP Units
2024-03-28+83,332.5→ 110,047.5 total→ COMMON STOCK, CLASS C (83,332.5 underlying) - Conversion
Class C OP Units
2024-03-28−110,047.5→ 0 total→ COMMON STOCK, CLASS C (110,047.5 underlying) - Exercise/Conversion
Class R OP Units
2024-03-28−33,333→ 0 total→ COMMON STOCK, CLASS C (83,332.5 underlying) - Exercise/Conversion
Class P OP Units
2024-03-28−16,029→ 0 total→ COMMON STOCK, CLASS C (26,715 underlying)
Footnotes (2)
- [F1]There is no expiration date in connection with the 16,029 Class P OP Units ("Class P OP Units") of Modiv Operating Partnership, LP (the "Partnership") issued to the reporting person; however, the Class P OP Units automatically and mandatorily converted into Class C OP Units of the Partnership ("Class C OP Units") on March 28, 2024 on a 1.66667:1 basis. The Class C OP Units are redeemable for cash or, at the issuer's option, exchangeable for shares of the issuer's Class C Common Stock on a 1:1 basis, and have no expiration.
- [F2]There is no expiration date in connection with the 33,333 Class R OP Units ("Class R OP Units") of the Partnership, issued to the reporting person; however, the Class R OP Units automatically and mandatorily converted into Class C OP Units on March 28, 2024 on a 2.5:1 basis. The Class C OP Units are redeemable for cash or, at the issuer's option, exchangeable for shares of the issuer's Class C Common Stock on a 1:1 basis, and have no expiration.