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Rexford Industrial Realty, Inc.·4

Apr 28, 8:06 PM ET

Lanzer David E. 4

Research Summary

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Rexford (REXR) General Counsel David Lanzer Sells 33,299 Shares

What Happened
David E. Lanzer, General Counsel & Secretary of Rexford Industrial Realty (REXR), converted vested partnership/derivative units into common shares and sold 33,299 shares in an open-market transaction. The sale executed on 2026-04-28 generated proceeds of approximately $1,181,232 at a weighted-average price of $35.47 per share. The underlying conversions/exercises occurred on 2026-04-24 and reflected vested Performance Units and LTIP Units converting into Operating Partnership (OP) units, which were redeemed/exchanged into common stock.

Key Details

  • Transaction dates: conversions/exercises on 2026-04-24; open-market sale on 2026-04-28.
  • Sale price: weighted-average $35.47; individual trades ranged $35.40–$35.84 (footnote F2). Total proceeds ≈ $1,181,232.
  • Derivative/convertible activity: 30,998 vested Performance Units converted to 30,998 OP Units (F3, F4); 2,301 vested LTIP Units converted to 2,301 OP Units (F7, F8); those OP Units (total 33,299) were exchanged into common stock (F1, F6) and sold.
  • Transaction codes: C = conversion of derivative security; M = exercise/conversion of derivative; S = open-market sale. These conversions/exercises reported at $0.00 (no cash paid to exercise/convert).
  • Shares owned after transaction: not specified in the Form 4 filing.
  • Timeliness: filing dated 2026-04-28 for transactions on 2026-04-24 and 2026-04-28 — filing appears timely (Form 4 is generally due within two business days).
  • Additional note: per footnote F2, the sale was done in multiple trades; a breakdown of quantities/prices per trade is available on request to the SEC staff, the issuer, or a security holder.

Context
This sequence reflects the conversion of compensation-related partnership units (Performance Units and LTIP Units) that had vested and achieved parity with OP Units, conversion into OP Units, exchange into common stock, and subsequent open-market sale. Such transactions are commonly routine compensation redemptions and do not by themselves indicate the insider’s future views on the company.