MODIV INDUSTRIAL, INC. Approves Merger With Global Net Lease

What Happened

• Modiv Industrial, Inc. announced that its stockholders approved the merger agreement with Global Net Lease, Inc. (Merger Agreement dated May 3, 2026). At a virtual special meeting on August 10, 2026, shareholders voted to approve the Merger Proposal, which contemplates Modiv merging into GNL Motion Merger Sub (REIT Merger Sub) and a related OpCo merger of the operating partnerships. The record date for the meeting was June 22, 2026.

Key Details

• Record date/outstanding shares: 10,323,670 shares of Class C common stock outstanding as of June 22, 2026.
• Quorum/attendance: 6,762,735 shares present or represented (~65.5% of outstanding).
• Merger Proposal vote (required: majority of outstanding shares): For 6,363,283; Against 295,685; Abstain 103,767 — Merger Proposal approved.
• Merger Compensation Proposal (advisory vote on executive payments): For 5,324,201; Against 1,197,030; Abstain 241,504 — approved on a non‑binding basis.
• Adjournment Proposal: For 6,179,854; Against 444,243; Abstain 138,638 — approved but not needed given the Merger approval.
• The company issued a press release on August 10, 2026 (filed as Exhibit 99.1) announcing the results.

Why It Matters

• Shareholder approval clears a key regulatory/transaction milestone and allows the parties to proceed toward closing the Merger (subject to remaining conditions in the Merger Agreement). For investors, the vote signals support for the transaction structure and gives the company the ability to complete the planned combination with Global Net Lease. The advisory approval of merger‑related executive compensation indicates shareholder backing of the reported executive payouts, though that vote is non‑binding.