Aaron Scott Halfacre - 28 Mar 2024 Form 4 Insider Report for Modiv Industrial, Inc. (MDV)

Role
CEO and President, Director
Signature
/s/ John Raney, by Power of Attorney for Aaron Scott Halfacre
Issuer symbol
MDV
Transactions as of
28 Mar 2024
Net transactions value
-$17,644
Form type
4
Filing time
01 Apr 2024, 13:57:18 UTC
Previous filing
27 Mar 2024
Next filing
26 Apr 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MDV COMMON STOCK, CLASS C Conversion of derivative security +29,877 +40% 105,379 28 Mar 2024 Direct F1
transaction MDV COMMON STOCK, CLASS C Sale $17,644 -1,030 -0.98% $17.13 104,349 28 Mar 2024 Direct

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 MDV Class P OP Units Options Exercise -40,000 -100% 0 28 Mar 2024 COMMON STOCK, CLASS C 66,667 Direct F2
transaction MDV Class R OP Units Options Exercise -210,667 -100% 0 28 Mar 2024 COMMON STOCK, CLASS C 526,668 Direct F3
transaction MDV Class C OP Units Options Exercise +66,667 66,667 28 Mar 2024 COMMON STOCK, CLASS C 66,667 Direct F2
transaction MDV Class C OP Units Options Exercise +526,668 +790% 593,334 28 Mar 2024 COMMON STOCK, CLASS C 526,668 Direct F3
transaction MDV Class C OP Units Other -110,000 -19% 483,334 28 Mar 2024 COMMON STOCK, CLASS C 110,000 Direct F1, F4
transaction MDV Class C OP Units Conversion of derivative security -29,877 -6.2% 453,458 28 Mar 2024 COMMON STOCK, CLASS C 29,877 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Class C OP Units are redeemable for cash or, at the issuer's option, exchangeable for shares of the issuer's Class C Common Stock on a 1:1 basis, and have no expiration.
F2 There is no expiration date in connection with the 40,000 Class P OP Units ("Class P OP Units") of Modiv Operating Partnership, LP (the "Partnership"), issued to the reporting person; however, the Class P OP Units automatically and mandatorily converted into Class C OP Units of the Partnership ("Class C OP Units") on March 28, 2024 on a 1.66667:1 basis. The Class C OP Units are redeemable for cash or, at the issuer's option, exchangeable for shares of the issuer's Class C Common Stock on a 1:1 basis, and have no expiration.
F3 There is no expiration date in connection with the 210,667 Class R OP Units ("Class R OP Units") of the Partnership issued to the reporting person; however, the Class R OP Units automatically and mandatorily converted into Class C OP Units on March 28, 2024 on a 2.5:1 basis. The Class C OP Units are redeemable for cash or, at the issuer's option, exchangeable for shares of the issuer's Class C Common Stock on a 1:1 basis, and have no expiration.
F4 On March 28, 2024, the respondent transferred 110,000 Class C OP Units to his former spouse pursuant to an existing divorce settlement.