First City Investment Group, LLC 4
4 · Modiv Industrial, Inc. · Filed Feb 22, 2024
Insider Transaction Report
Form 4
First City Investment Group, LLC
10% Owner
Transactions
- Conversion
Class C Common Stock
2024-02-20+656,191→ 656,191 total - Conversion
Units of Class C Limited Partnership Interest
2024-02-20−656,191→ 656,191 total→ Class C Common Stock (656,191 underlying)
Footnotes (1)
- [F1]Pursuant to the third amended and restated limited partnership agreement, as amended, of Modiv Operating Partnership, LP (the "Operating Partnership"), of which Modiv Industrial, Inc. (the "Issuer") is the general partner, holders of Class C Units of the Operating Partnership (the "Class C OP Units") have the right, subject to a holding period, to require the Operating Partnership to redeem such Class C OP Units for cash equal to the daily market value of one share of the Issuer's Class C common stock for the prior ten trading days or, at the Issuer's election, for shares of the Issuer's Class C common stock on a one-for-one basis. There is no expiration date in connection with the reporting person's Class C OP Units. On February 20, 2024, the reporting person exercised its redemption right and requested redemption of 656,191 of its Class C OP Units, and the Issuer elected to redeem such Class C OP Units with shares of the Issuer's Class C common stock.