First City Investment Group, LLC - 01 Aug 2024 Form 4 Insider Report for Modiv Industrial, Inc. (MDV)

Role
10%+ Owner
Signature
/s/ Nasser Watar, Sole Member
Issuer symbol
MDV
Transactions as of
01 Aug 2024
Net transactions value
-$11,544,000
Form type
4
Filing time
05 Aug 2024, 17:19:50 UTC
Previous filing
02 Aug 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MDV Class C Common Stock Sale $1,832,373 -123,809 -19% $14.80 530,135 01 Aug 2024 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 MDV Units of Class C Limited Partnership Interest Sale $9,711,627 -656,191 -100% $14.80 0 01 Aug 2024 Class C Common Stock 656,191 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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

Explanation of Responses:

Id Content
F1 On July 31, 2024, the reporting person entered into a securities purchase agreement with Modiv Industrial, Inc. (the "Issuer") and Modiv Operating Partnership, LP (the "Operating Partnership"), pursuant to which, on August 1, 2024, the Issuer repurchased from the reporting person 123,809 shares of Class C common stock of the Issuer and the Operating Partnership repurchased from the reporting person 656,191 units of Class C limited partnership interest ("Class C OP Units") of the Operating Partnership for an aggregate purchase price of $11,544,000, or $14.80 per share of Class C common stock or Class C OP Unit, as applicable.
F2 Pursuant to the third amended and restated limited partnership agreement, as amended, of the Operating Partnership, holders of Class C OP Units have the right, subject to a holding period, to require the Operating Partnership to redeem such Class C OP Units for cash equal to the daily market value of one share of the Issuer's Class C common stock for the prior ten trading days or, at the Issuer's election, for shares of the Issuer's Class C common stock on a one-for-one basis. There was no expiration date in connection with the reporting person's Class C OP Units.