Michael S. Frankel - Jan 17, 2024 Form 4 Insider Report for Rexford Industrial Realty, Inc. (REXR)

Role
Co-CEO, Co-President, Director
Signature
/s/ Michael S. Frankel
Stock symbol
REXR
Transactions as of
Jan 17, 2024
Transactions value $
$0
Form type
4
Date filed
1/22/2024, 06:47 AM
Previous filing
Jan 16, 2024

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 Award +15.3K +2.97% 532K Jan 17, 2024 Common Stock, par value $0.01 15.3K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 (Continued from Footnote 1) The LTIP Units issued pursuant to the Second Amended and Restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan are fully vested and nonforfeitable as of January 17, 2024.
F2 LTIP Units are a class of limited partnership units in Rexford Industrial Realty, L.P. (the "Operating Partnership"). Initially, the LTIP Units do not have full parity with common limited partnership units of the Operating Partnership ("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. OP Units are redeemable by the holder for an equivalent number of shares of the Issuer's common stock or for the cash value of such shares, at the Issuer's election.
F3 The Reporting Person also owns 564,052 Performance Units, a class of limited partnership units in the Operating Partnership.