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First Industrial Realty Trust (FR) CFO transfers LP Units and ends UTMA stake

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

MUSIL SCOTT A reported disposition transactions in this Form 4 filing.

Scott A. Musil, Chief Financial Officer of First Industrial Realty Trust, reported two non-market restructuring transactions. He transferred 2,603 LP Units in First Industrial L.P. to a spouse/former spouse as part of a marital dissolution settlement, and those securities are no longer beneficially owned by him; he directly holds 89,995 LP Units afterward. Separately, 2,175 shares of Common Stock previously reported as indirectly owned as UTMA custodian for his child are no longer reported after the child reached the age of majority, and he disclaims beneficial ownership and any pecuniary interest in those shares.

Positive

  • None.

Negative

  • None.
Insider MUSIL SCOTT A
Role Chief Financial Officer
Type Security Shares Price Value
Other LP Units F2, F3, F4 2,603 $0.00 $0.00
Other Common Stock F1 2,175 $0.00 $0.00
Holdings After Transaction: LP Units — 89,995 shares (Direct); Common Stock — 0 shares (Indirect, By Self as UTMA Custodian for Child)
Footnotes (4)
  1. F1. The securities previously reported as indirectly beneficially owned by the Reporting Person as custodian under the Uniform Transfers to Minors Act for his child are no longer reported because the custodianship terminated when the child reached the age of majority. The Reporting Person no longer has any pecuniary interest in such securities and disclaims beneficial ownership of them.
  2. F2. Represents units of limited partnership interest ("LP Units") in First Industrial L.P., of which the Company is the general partner, granted under the Company's 2024 Stock Incentive Plan. An LP Unit that has vested and received certain allocations will automatically convert into a common unit of limited partnership interest in First Industrial, L.P. on a one-for-one basis, which common unit may in turn be converted into a share of Common Stock of the Company on a one-for-one basis.
  3. F3. Transfer to spouse/former spouse as part of marital dissolution settlement. The securities are no longer beneficially owned by the Reporting Person.
  4. F4. Not applicable.
LP Units transferred 2,603 LP Units Transfer to spouse/former spouse as part of marital dissolution settlement
LP Units held after transaction 89,995 LP Units Direct LP Unit holdings by Scott A. Musil following the transfer
Common Stock removed from reporting 2,175 shares Shares previously held as UTMA custodian no longer reported after child reached majority
Common Stock indirect holdings after 0 shares Indirect Common Stock holdings as UTMA custodian following custodianship termination
Total restructuring shares 4,778 securities Aggregate of LP Units and Common Stock involved in code J restructuring transactions
LP Units financial
"Represents units of limited partnership interest ("LP Units") in First Industrial L.P."
Uniform Transfers to Minors Act financial
"indirectly beneficially owned by the Reporting Person as custodian under the Uniform Transfers to Minors Act"
pecuniary interest financial
"The Reporting Person no longer has any pecuniary interest in such securities and disclaims beneficial ownership"
beneficial ownership financial
"The securities are no longer beneficially owned by the Reporting Person."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transactions did FR’s CFO Scott A. Musil report in this Form 4?
Scott A. Musil reported two restructuring dispositions: a transfer of 2,603 LP Units to a spouse/former spouse in a marital dissolution settlement, and the removal of 2,175 Common Stock shares previously held as UTMA custodian after the child reached majority, with no remaining beneficial ownership.

How many LP Units does FR’s CFO hold after the reported transactions?
After transferring 2,603 LP Units in First Industrial L.P., Scott A. Musil directly holds 89,995 LP Units. These LP Units were granted under the company’s 2024 Stock Incentive Plan and can ultimately convert on a one-for-one basis into shares of Common Stock under specified conditions.

What happened to the 2,175 shares of FR Common Stock previously reported under UTMA custodianship?
The 2,175 Common Stock shares previously reported as indirectly owned by Scott A. Musil as UTMA custodian are no longer reported because the custodianship terminated when the child reached majority. He states he no longer has any pecuniary interest and disclaims beneficial ownership of those securities.

Were the Form 4 transactions by FR’s CFO market sales or purchases?
No market sales or purchases are reported. Both transactions use code J for “other acquisition or disposition” and reflect a marital dissolution transfer of LP Units and the end of UTMA custodianship, rather than open-market trading in the company’s securities.

Does the FR Form 4 indicate any Rule 10b5-1 trading plan use by the CFO?
No. The filing’s Rule 10b5-1 checkbox is not marked as an affirming trading plan, and the footnotes describe the events as a marital dissolution settlement and termination of UTMA custodianship, not as transactions executed under a pre-arranged trading plan.

What do the reported LP Units in FR’s Form 4 represent for the CFO?
The LP Units represent limited partnership interests in First Industrial L.P. granted under the 2024 Stock Incentive Plan. Once vested and allocated certain amounts, each LP Unit can convert into a partnership common unit and then into one share of the company’s Common Stock on a one-for-one basis.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
MUSIL SCOTT A
(Last)(First)(Middle)
ONE N. WACKER DRIVE
SUITE 4200
(Street)
CHICAGO ILLINOIS 60606
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
FIRST INDUSTRIAL REALTY TRUST INC [ FR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Financial Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/27/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock07/27/2026J(1)2,175(1)D$00IBy Self as UTMA Custodian for Child
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
LP Units(2)07/27/2026J(3)2,603(3) (4) (4)Common Stock2,603$089,995D
Explanation of Responses:
1. The securities previously reported as indirectly beneficially owned by the Reporting Person as custodian under the Uniform Transfers to Minors Act for his child are no longer reported because the custodianship terminated when the child reached the age of majority. The Reporting Person no longer has any pecuniary interest in such securities and disclaims beneficial ownership of them.
2. Represents units of limited partnership interest ("LP Units") in First Industrial L.P., of which the Company is the general partner, granted under the Company's 2024 Stock Incentive Plan. An LP Unit that has vested and received certain allocations will automatically convert into a common unit of limited partnership interest in First Industrial, L.P. on a one-for-one basis, which common unit may in turn be converted into a share of Common Stock of the Company on a one-for-one basis.
3. Transfer to spouse/former spouse as part of marital dissolution settlement. The securities are no longer beneficially owned by the Reporting Person.
4. Not applicable.
Remarks:
/s/ Jennifer Matthews Rice, attorney-in-fact07/27/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR