Howard Schwimmer - 17 Jan 2024 Form 4 Insider Report for Rexford Industrial Realty, Inc. (REXR)

Role
Co-CEO, Co-President, Director
Signature
/s/ Howard Schwimmer
Issuer symbol
REXR
Transactions as of
17 Jan 2024
Net transactions value
$0
Form type
4
Filing time
22 Jan 2024, 06:50:38 UTC
Previous filing
16 Jan 2024
Next filing
12 Mar 2024
SEC
View on sec.gov

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 +15,340 +2.7% 593,508 17 Jan 2024 Common Stock, par value $0.01 15,340 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 the following securities: (i) 528,547 Performance Units, a class of limited partnership units in the Operating Partnership, (ii) 159,039 OP Units, of which 7,275 OP Units are held by the Schwimmer Living Trust dated December 14, 2001 (the "Living Trust") of which the Reporting Person is a trustee, and of which 42,002 OP Units are held by the Schwimmer Family Irrevocable Trust (the "Family Trust") of which the Reporting Person is a trustee, and (iii) 64,437 Shares, of which 13,575 Shares are held by the Family Trust of which the Reporting Person is a trustee. The Reporting Person disclaims beneficial ownership of the OP Units held by the Living Trust and the Family Trust, except to the extent of his pecuniary interest therein.