| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | MDV | Class X Units | Award | $0 | +65K | $0.00 | 65K | Feb 3, 2025 | COMMON STOCK, CLASS C | 65K | Direct | F1, F2, F3 | ||
| transaction | MDV | Class X Units | Gift | $0 | -65K | -100% | $0.00 | 0 | Feb 3, 2025 | COMMON STOCK, CLASS C | 65K | Direct | F1, F2, F4 | |
| transaction | MDV | Class X Units | Gift | $0 | +65K | $0.00 | 65K | Feb 3, 2025 | COMMON STOCK, CLASS C | 65K | By trust | F1, F2, F4, F5 |
| Id | Content |
|---|---|
| F1 | Represents Class X units of limited partnership interest ("Class X Units") of Modiv Operating Partnership, LP ("Modiv OP"), the operating partnership of Modiv Industrial, Inc. (the "Company"), and of which the Company is the general partner. Class X Units vest according to the terms of the award agreement pursuant to which the Class X Units were granted to the reporting person. Under the limited partnership agreement of Modiv OP, upon vesting, such Class X Units automatically convert into units of Class C limited partnership interests of Modiv OP ("Class C Units"), provided that the value of Modiv OP has appreciated such that the capital account of the holder of Class X Units is equal to the capital account balance attributable to a Class C Unit on a per unit basis. |
| F2 | After such Class C Units have been outstanding for at least one year (inclusive of any holding period for any Class X Units converted into Class C Units), the holder may require Modiv OP to exchange all or a portion of such holder's Class C Units for cash or, at the option of the Company, shares of the Company's Class C Common Stock, $0.001 par value per share (the "Class C Common Stock"), on a one-for-one basis. Class X Units have no expiration date. |
| F3 | Represents a grant of unvested Class X Units, all of which vest on February 3, 2027, subject to the reporting person's continued service on such date and subject to acceleration upon certain events. |
| F4 | Represents a gift of 65,000 Class X Units by the reporting person to a revocable trust for which the reporting person is the trustee and which was established for the benefit of the reporting person's immediate family members. |
| F5 | Represents securities held by a revocable trust of which the reporting person is the trustee and which was established for the benefit of the reporting person's immediate family members. |