First Industrial Realty Trust (NYSE: FR) director granted 2,419 LP Units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Smith Marcus L. reported acquisition or exercise transactions in this Form 4 filing.

First Industrial Realty Trust director Marcus L. Smith received an equity award of 2,419 LP Units. These units were granted under the company’s 2024 Stock Incentive Plan and are a form of non-cash compensation.

The LP Units vest on the earlier of the first anniversary of grant or the company’s next annual stockholder meeting at which directors are elected. After this grant, Smith holds a total of 9,855 LP Units, which may ultimately be convertible into an equal number of common units and then shares of Common Stock on a one-for-one basis at each step.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Smith Marcus L.

Role null

Type	Security	Shares	Price	Value
Grant/Award	LP Units	2,419	$0.00	--

Holdings After Transaction: LP Units — 9,855 shares (Direct, null)

Footnotes (1)

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. Not applicable. The LP Units vest upon the earlier of (i) the first anniversary of grant or (ii) the Company's next annual stockholder meeting following the date of grant where directors are elected. Not applicable.

Key Figures

LP Units granted: 2,419 LP Units LP Units after grant: 9,855 LP Units Grant price: $0.0000 per unit +1 more

4 metrics

LP Units granted 2,419 LP Units Equity award on 2026-04-30

LP Units after grant 9,855 LP Units Holdings following transaction

Grant price $0.0000 per unit Non-cash compensation grant

Underlying common stock 2,419 shares Underlying Common Stock on 1:1 basis

Key Terms

LP Units, First Industrial L.P., 2024 Stock Incentive Plan, common unit of limited partnership interest, +1 more

5 terms

LP Units financial

"Represents units of limited partnership interest ("LP Units") in First Industrial L.P."

First Industrial L.P. financial

"units of limited partnership interest in First Industrial L.P., of which the Company is the general partner"

2024 Stock Incentive Plan financial

"granted under the Company's 2024 Stock Incentive Plan"

common unit of limited partnership interest financial

"convert into a common unit of limited partnership interest in First Industrial, L.P."

annual stockholder meeting financial

"the Company's next annual stockholder meeting following the date of grant where directors are elected"

An annual stockholder meeting is a yearly gathering where a company's owners (shareholders) receive updates on performance, vote on key issues like board members, executive pay and major corporate plans, and ask questions of management. Think of it as a company town hall where choices about oversight and direction are decided; outcomes can affect management accountability, corporate strategy and ultimately the value and risks of investors’ shares.

Form 4 Insider Transactions: What Each Field Means →

05/01/2026 - 04:17 PM

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

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^*

Smith Marcus L.

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
LP Units	⁽¹⁾	04/30/2026		A		2,419		⁽²⁾	⁽³⁾	Common Stock	2,419	$0	9,855	D

Explanation of Responses:

1. 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.

2. Not applicable. The LP Units vest upon the earlier of (i) the first anniversary of grant or (ii) the Company's next annual stockholder meeting following the date of grant where directors are elected.

3. Not applicable.

Remarks:

	/s/ Jennifer Matthews Rice, attorney-in-fact	05/01/2026
	** 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).
** 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

FAQ

What did Marcus L. Smith report in this Form 4 for FR?

Marcus L. Smith reported receiving 2,419 LP Units as an equity award. The units are compensation granted under First Industrial Realty Trust’s 2024 Stock Incentive Plan and increase his total LP Unit holdings to 9,855.

How many LP Units does Marcus L. Smith hold after this FR transaction?

After the reported grant, Marcus L. Smith holds 9,855 LP Units. This total reflects his prior holdings plus the new 2,419-unit award disclosed in the Form 4 filing for First Industrial Realty Trust.

What are LP Units in First Industrial L.P. as reported for FR?

LP Units are units of limited partnership interest in First Industrial L.P., where the company is general partner. Once vested and allocated, each LP Unit can convert 1:1 into a common partnership unit, then into one share of First Industrial Common Stock.

When do Marcus L. Smith’s newly granted LP Units for FR vest?

The LP Units vest on the earlier of the first anniversary of the grant date or the next annual stockholder meeting at which directors are elected. This time-based vesting schedule ties the award to continued board service at First Industrial Realty Trust.

Was there any cash purchase or sale of FR securities in this Form 4?

No cash purchase or sale was reported. The Form 4 shows a grant or award acquisition of 2,419 LP Units at a price of $0.0000 per unit, indicating a compensation-related, non-cash equity award for director Marcus L. Smith.