First Industrial Realty Trust (FR) CEO reports major LP unit grants

Rhea-AI Filing Summary

First Industrial Realty Trust Inc reported equity-related transactions by its president and CEO. On January 1, 2026, the executive received 97,329 common units of limited partnership interest (LP Units) in First Industrial, L.P. upon the vesting of Performance Units that were originally issued on January 1, 2023 under the company’s 2014 Stock Incentive Plan. Each LP Unit in First Industrial, L.P. may be converted into one share of the company’s common stock.

On the same date, the executive was also granted 28,407 LP Units in First Industrial, L.P. under the company’s 2024 Stock Incentive Plan at a price of $0. These LP Units vest in three equal installments on January 1, 2027, 2028 and 2029. Once vested and after receiving certain allocations, each such LP Unit can ultimately be converted, through an intermediate common unit of limited partnership interest, into one share of common stock.

SEC Form 4

FORM 4

UNITED 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

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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^*

Baccile Peter E.

(Last) (First) (Middle)

ONE N. WACKER DRIVE

SUITE 4200

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/01/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LP Units	(1)	01/01/2026		A		97,329		(1)	(1)	Common Stock	97,329	$0	499,061	D
LP Units	(2)	01/01/2026		A		28,407		(3)	(4)	Common Stock	28,407	$0	527,468	D

Explanation of Responses:

1. Represents the receipt of common units of limited partnership interest ("LP Units") in First Industrial, L.P., of which the Company is the general partner, upon the vesting of Performance Units issued on January 1, 2023 under the Company's 2014 Stock Incentive Plan. An LP Unit in First Industrial, L.P. may be converted into a share of Common Stock of the Company on a one-for-one basis.

2. Represents 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. Not applicable. The LP Units vest in three equal installments on January 1, 2027, 2028 and 2029.

4. Not applicable.

Remarks:

	/s/ Jennifer Matthews Rice, attorney-in-fact	01/05/2026
	** Signature of Reporting Person	Date
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).
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FAQ

What insider transaction did First Industrial Realty Trust (FR) report?

The company reported that its president and CEO received 97,329 LP Units upon vesting of previously issued Performance Units and was granted an additional 28,407 LP Units on January 1, 2026.

How many LP Units did the First Industrial Realty Trust CEO receive from vesting awards?

The CEO received 97,329 common units of limited partnership interest (LP Units) in First Industrial, L.P. upon the vesting of Performance Units issued on January 1, 2023 under the 2014 Stock Incentive Plan.

What new LP Unit grant did the First Industrial Realty Trust (FR) CEO receive?

The CEO was granted 28,407 LP Units in First Industrial, L.P. under the company’s 2024 Stock Incentive Plan, effective January 1, 2026, at a price of $0.

What is the vesting schedule for the 28,407 LP Units granted to the First Industrial CEO?

The 28,407 LP Units vest in three equal installments on January 1, 2027, January 1, 2028 and January 1, 2029.

Can the reported LP Units be converted into First Industrial Realty Trust common stock?

Yes. Each LP Unit in First Industrial, L.P. may be converted into a share of the company’s common stock on a one-for-one basis, either directly or after first converting into a common unit of limited partnership interest.

Under which incentive plans were the CEO’s LP Units issued at First Industrial Realty Trust (FR)?

The 97,329 LP Units came from Performance Units issued under the 2014 Stock Incentive Plan, while the 28,407 LP Units were granted under the 2024 Stock Incentive Plan.