Group of Trophy, LLC - 20 Feb 2024 Form 4 Insider Report for Modiv Industrial, Inc. (MDV)

Role
10%+ Owner
Signature
/s/ Nasser Watar, Manager
Issuer symbol
MDV
Transactions as of
20 Feb 2024
Net transactions value
$0
Form type
4
Filing time
21 Feb 2024, 16:47:04 UTC
Previous filing
21 Jun 2022
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 MDV Units of Class C Limited Partnership Interest Other -1,312,382 -100% 0 20 Feb 2024 Class C Common Stock 1,312,382 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Group of Trophy, LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Units of Class C Limited Partnership Interest ("Class C OP Units") of Modiv Operating Partnership, LP 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 On February 20, 2024, in connection with estate-related matters, the reporting person transferred and assigned all of the reporting person's Class C OP Units to First City Investment Group, LLC, a Delaware limited liability company for which the managing member of the reporting person serves as the sole member. The fair market value per Class C OP Unit is $14.46 based on the closing price of the issuer's Class C Common Stock on February 16, 2024, the last trading date prior to the transfer and assignment of the Class C OP Units. Following the transfer and assignment, the reporting person is no longer a beneficial owner of Class C OP Units or any other securities of the issuer.