Sara R. Grisham - 12 Aug 2026 Form 4 Insider Report for MODIV INDUSTRIAL, INC. (MDV)

Reporting relationship: Chief Accounting Officer
Issuer ticker: MDV
Reported as of: 12 Aug 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 12 Aug 2026, 16:59:25 UTC
Prior SEC filing: 01 Apr 2025
Source filing: View source filing
Reporting owner signature: /s/ John Raney, by Power of Attorney for Sara R. Grisham

Key filing fact

Sara R. Grisham filed Form 4 for MODIV INDUSTRIAL, INC. (MDV) on 12 Aug 2026.

Key facts

This page summarizes Sara R. Grisham's Form 4 filing for MODIV INDUSTRIAL, INC. (MDV).
3 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 12 Aug 2026, 16:59.

Change

Previous filing in this sequence was filed on 01 Apr 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0002062006 Primary reporting owner

GRISHAM SARA R

Relationship: Chief Accounting Officer
Address: 1500 NORTH GRANT STREET, #5609, DENVER
Signature: /s/ John Raney, by Power of Attorney for Sara R. Grisham
Signature date: 12 Aug 2026

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

MDV transaction Derivative

Class X Units

Options Exercise

Transaction value
Shares: -40,000
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 12 Aug 2026
Ownership: Direct
Underlying class: COMMON STOCK, CLASS C
Underlying amount: 40,000
Exercise price
Footnotes: F1, F2

MDV transaction Derivative

Class C Units

Options Exercise

Transaction value
Shares: +40,000
Change %
Price: $0.000000^*
Shares after: 40,000
Date: 12 Aug 2026
Ownership: Direct
Underlying class: COMMON STOCK, CLASS C
Underlying amount: 40,000
Exercise price
Footnotes: F2

MDV transaction Derivative

Class C Units

Disposed to Issuer

Transaction value
Shares: -40,000
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 12 Aug 2026
Ownership: Direct
Underlying class: COMMON STOCK, CLASS C
Underlying amount: 40,000
Exercise price
Footnotes: F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Sara R. Grisham is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 3 footnotes

Footnote F1

Pursuant to the terms of an Agreement and Plan of Merger, dated as of May 3, 2026 (the "Merger Agreement"), by and among Modiv Industrial, Inc. ("Modiv"), Modiv Operating Partnership, LP (the "Modiv Operating Partnership"), Global Net Lease, Inc. ("GNL"), GNL Motion Merger Sub, LLC ("REIT Merger Sub"), Global Net Lease Operating Partnership, L.P. (the "GNL Operating Partnership") and GNL Motion OpCo Merger Sub, LLC ("OpCo Merger Sub"), Modiv merged with and into REIT Merger Sub, with REIT Merger Sub continuing as the surviving entity and a wholly owned subsidiary of GNL (the "REIT Merger"), and OpCo Merger Sub merged with and into the Modiv Operating Partnership, with the Modiv Operating Partnership continuing as the surviving entity and a wholly owned subsidiary of GNL Operating Partnership (the "OpCo Merger").

Footnote F2

Immediately prior to the effective time of the OpCo Merger (the "OpCo Merger Effective Time"), each outstanding unit of Class X limited partnership interest (the "Class X Units") in the Modiv Operating Partnership immediately vested in full and converted into one unit of Class C limited partnership interest (the "Class C Units") in the Modiv Operating Partnership.

Footnote F3

At the OpCo Merger Effective Time, each outstanding Class C Unit converted into the right to receive 1.975 units of limited partnership interest in the GNL Operating Partnership designated as OP Units (as defined in the agreement of limited partnership of GNL Operating Partnership, "GNL OP Units"), plus the right to receive cash in lieu of any fractional GNL OP Units, if any, without interest.