Laura E. Clark - Jul 25, 2023 Form 4 Insider Report for Rexford Industrial Realty, Inc. (REXR)

Role: Chief Financial Officer
Signature: /s/ Laura E. Clark
Stock symbol: REXR
Transactions as of: Jul 25, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/27/2023, 09:00 PM
Previous filing: Nov 10, 2022
Next filing: Jul 28, 2023

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	+7.41K	+289.23%	$0.00	9.97K	Jul 25, 2023	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	-7.41K	-16.98%	$0.00	36.2K	Jul 25, 2023	Common Stock, par value $0.01	7.41K		Direct	F2, F3, F4
transaction	REXR	Operating Partnership Units	Options Exercise	$0	+7.41K		$0.00	7.41K	Jul 25, 2023	Common Stock, par value $0.01	7.41K		Direct	F3, F4, F5
transaction	REXR	Operating Partnership Units	Conversion of derivative security	$0	-7.41K	-100%	$0.00^*	0	Jul 25, 2023	Common Stock, par value $0.01	7.41K		Direct	F1, F4, 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 Second Amended and Restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award 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. The 7,410 LTIP Units referred to herein have vested and reached such parity.
F3	Reflects the conversion of 7,410 vested LTIP Units into 7,410 OP Units.
F4	n/a
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.