Key facts
- This page summarizes First City Investment Group, LLC's Form 4 filing for Modiv Industrial, Inc. (MDV).
- 2 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 05 Aug 2024, 17:19.
First City Investment Group, LLC - 01 Aug 2024 Form 4 Insider Report for Modiv Industrial, Inc. (MDV)
- Reporting relationship
- 10%+ Owner
- Issuer ticker
- MDV
- Reported as of
- 01 Aug 2024
- Net transaction value
- -$11,544,000
- SEC form
- 4
- Accepted by SEC
- 05 Aug 2024, 17:19:50 UTC
- Prior SEC filing
- 02 Aug 2024
- Source filing
- View source filing
- Reporting owner signature
- /s/ Nasser Watar, Sole Member
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
First City Investment Group, LLC filed Form 4 for Modiv Industrial, Inc. (MDV) on 05 Aug 2024.
Change
- Previous filing in this sequence was filed on 02 Aug 2024.
- Current net transaction value: -$11,544,000.
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
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
MDV
transaction
Class C Common Stock
Sale
- Transaction value
- $1,832,373
- Shares
- -123,809
- Change %
- -19%
- Price
- $14.80
- Shares after
- 530,135
- Date
- 01 Aug 2024
- Ownership
- Direct
- Footnotes
- F1
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
MDV
transaction
Derivative
Units of Class C Limited Partnership Interest
Sale
- Transaction value
- $9,711,627
- Shares
- -656,191
- Change %
- -100%
- Price
- $14.80
- Shares after
- 0
- Date
- 01 Aug 2024
- Ownership
- Direct
- Underlying class
- Class C Common Stock
- Underlying amount
- 656,191
- Exercise price
- Footnotes
- F1, F2
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
First City Investment Group, LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 2 footnotes
Footnote 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.
Footnote 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.