David E. Lanzer - Jun 30, 2021 Form 4 Insider Report for Rexford Industrial Realty, Inc. (REXR)

Role
General Counsel & Secretary
Signature
/s/ David E. Lanzer
Stock symbol
REXR
Transactions as of
Jun 30, 2021
Transactions value $
$0
Form type
4
Date filed
7/2/2021, 05:58 PM
Next filing
Aug 6, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction REXR Common Stock, par value $0.01 Conversion of derivative security $0 +14K +350000% $0.00 14K Jun 30, 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction REXR LTIP Units Options Exercise $0 -821 -2.23% $0.00 35.9K Jun 30, 2021 Common Stock, par value $0.01 821 Direct F2, F3, F4
transaction REXR Operating Partnership Units Options Exercise $0 +821 $0.00 821 Jun 30, 2021 Common Stock, par value $0.01 821 Direct F4, F5
transaction REXR Performance Units Options Exercise $0 -13.2K -100% $0.00* 0 Jun 30, 2021 Common Stock, par value $0.01 13.2K Direct F6, F7
transaction REXR Operating Partnership Units Options Exercise $0 +13.2K +1605.24% $0.00 14K Jun 30, 2021 Common Stock, par value $0.01 13.2K Direct F5, F7
transaction REXR Operating Partnership Units Conversion of derivative security $0 -14K -100% $0.00* 0 Jun 30, 2021 Common Stock, par value $0.01 14K Direct F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents common units of limited partnership interest ("OP Units") of Rexford Industrial Realty, L.P. (the "Operating Partnership") tendered by the Reporting Person for redemption and exchange into common stock of the Issuer in accordance with the Operating Partnership's partnership agreement.
F2 Represents LTIP Units, a class of limited partnership units in the Operating Partnership, issued as long term incentive compensation subject to time-based vesting pursuant to the Amended and Restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan (the "Incentive Plan"). Initially, the LTIP Units do not have full parity with OP Units with respect to liquidating distributions. However, upon the occurrence of certain events described in the Operating Partnership's partnership agreement, the LTIP Units can over time achieve full parity with the OP Units for all purposes. If such parity is reached, vested LTIP Units may be converted into an equal number of OP Units on a one for one basis at any time at the request of the Reporting Person or the general partner of the Operating Partnership.
F3 (Continued from Footnote 2) The 821 LTIP Units referred to herein have vested and reached such parity.
F4 Reflects the conversion of 821 vested LTIP Units into 821 OP Units in accordance with the Operating Partnership's partnership agreement.
F5 Represents OP Units in the Operating Partnership. The Issuer is the general partner of the Operating Partnership. OP Units are redeemable for cash equal to the then-current market value of one share of common stock, or at the election of the Issuer, for shares of the Issuer's common stock on a one-for-one basis.
F6 Represents Performance Units, a class of limited partnership units in the Operating Partnership. The Performance Units were initially granted on December 15, 2017, pursuant to the Incentive Plan, and vested on December 14, 2020, based on meeting certain performance-based hurdles. Initially, the Performance Units do not have full parity with OP Units with respect to liquidating distributions. However, upon the occurrence of certain events described in the Operating Partnership's partnership agreement, the Performance Units can over time achieve full parity with the OP Units for all purposes. If such parity is reached, vested Performance Units may be converted into an equal number of OP Units on a one for one basis at any time at the request of the Reporting Person or the general partner of the Operating Partnership. The 13,179 Performance Units referred to herein have vested and reached such parity.
F7 Reflects the conversion of 13,179 vested Performance Units into 13,179 OP Units in accordance with the Operating Partnership's partnership agreement.