Olsen Denise 4

4 · FIRST INDUSTRIAL REALTY TRUST INC · Filed May 1, 2026

AI-generated summary of this filing

Updated May 1, 2026

First Industrial (FR) Director Denise Olsen Receives Award of 2,419 Units

What Happened

Denise Olsen, a director of First Industrial Realty Trust, was granted 2,419 limited partnership units (LP Units) on 2026-04-30. The units were reported as a derivative award (transaction code A) with an acquisition price of $0 (no cash paid). These LP Units are not immediate common shares but may convert into common stock on a one-for-one basis after vesting and required allocations.

Key Details

Transaction date: 2026-04-30; Form 4 filed 2026-05-01 (timely filing).
Grant: 2,419 LP Units; reported acquisition price $0; total reported value $0 at grant.
Shares owned after transaction: not disclosed in the portion provided.
Footnotes: F1–LP Units convert one-for-one into common units and then into Company common stock upon vesting and allocations. F2–Units vest on the earlier of (i) first anniversary of grant or (ii) the next annual stockholder meeting where directors are elected. F3–Not applicable.
Filing timeliness: No late filing indicated.

Context

This was an equity award (not an open-market purchase or sale). LP Units are a form of deferred/derivative compensation for directors; they only become common shares once vesting and conversion conditions are met, so they do not represent immediately tradable stock.
Such grants are common for board compensation and are informational rather than a direct buy/sell signal; they do not, by themselves, indicate insider sentiment.

Form 4

Period: 2026-04-30

Director

Transactions

Award
LP Units
[F1][F2][F3]
2026-04-30+2,419→ 16,572 total
→ Common Stock (2,419 underlying)

Footnotes (3)

[F1]Represents units of limited partnership interest ("LP Units") in First Industrial L.P., of which the Company is the general partner, granted under the Company's 2024 Stock Incentive Plan. An LP Unit that has vested and received certain allocations will automatically convert into a common unit of limited partnership interest in First Industrial, L.P. on a one-for-one basis, which common unit may in turn be converted into a share of Common Stock of the Company on a one-for-one basis.
[F2]Not applicable. The LP Units vest upon the earlier of (i) the first anniversary of grant or (ii) the Company's next annual stockholder meeting following the date of grant where directors are elected.
[F3]Not applicable.

Signature

/s/ Jennifer Matthews Rice, attorney-in-fact|2026-05-01

1 file