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Director at First Industrial Realty (NYSE: FR) receives 2,419 LP Units grant

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

Rhea-AI Filing Summary

FIRST INDUSTRIAL REALTY TRUST INC director H. Patrick Hackett Jr. received a grant of 2,419 LP Units in First Industrial L.P. at a price of $0.00 per unit as equity compensation. Following this award, he holds 16,572 LP Units directly.

The LP Units were granted under the company’s 2024 Stock Incentive Plan. Once vested and after receiving certain allocations, each LP Unit automatically converts into one common unit of limited partnership interest in First Industrial L.P., which in turn may be converted into one share of the company’s Common Stock.

The LP Units vest upon the earlier of the first anniversary of the grant date or the company’s next annual stockholder meeting at which directors are elected, aligning the director’s compensation with long-term shareholder interests.

Positive

  • None.

Negative

  • None.
Insider HACKETT H PATRICK JR
Role null
Type Security Shares Price Value
Grant/Award LP Units 2,419 $0.00 --
Holdings After Transaction: LP Units — 16,572 shares (Direct, null)
Footnotes (1)
  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.
LP Units granted 2,419 LP Units Equity award on 2026-04-30
Holdings after grant 16,572 LP Units Total LP Units directly owned after transaction
Grant price $0.00 per LP Unit Equity compensation, no cash paid by director
LP Unit to partnership unit ratio 1:1 Each vested LP Unit converts to one common partnership unit
Partnership unit to Common Stock ratio 1:1 Each common partnership unit may convert to one FR Common Share
LP Units financial
"Represents units of limited partnership interest ("LP Units") in First Industrial L.P."
First Industrial L.P. financial
"LP Units 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."
vest financial
"The LP Units vest upon the earlier of (i) the first anniversary of grant"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
Form 4 Insider Transactions: What Each Field Means →
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*
HACKETT H PATRICK JR
(Last)(First)(Middle)
ONE NORTH WACKER 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)
XDirector10% 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)
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
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(1)04/30/2026A2,419 (2) (3)Common Stock2,419$016,572D
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-fact05/01/2026
** 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

FAQ

What did H. Patrick Hackett Jr. acquire in this Form 4 for FR?

H. Patrick Hackett Jr., a director of FIRST INDUSTRIAL REALTY TRUST INC, acquired 2,419 LP Units in First Industrial L.P. as an equity grant. The units were awarded at a price of $0.00 per unit under the company’s 2024 Stock Incentive Plan.

How many LP Units does the FR director hold after this transaction?

After the grant, the director holds a total of 16,572 LP Units directly. This figure includes the newly awarded 2,419 LP Units and represents his current derivative interest tied to potential future conversion into the company’s Common Stock.

How do the LP Units in First Industrial L.P. relate to FR Common Stock?

Each LP Unit, once vested and after certain allocations, automatically converts into one common unit of limited partnership interest in First Industrial L.P. That common unit may then be converted into one share of FIRST INDUSTRIAL REALTY TRUST INC Common Stock on a one-for-one basis.

When do the newly granted LP Units for FR’s director vest?

The LP Units vest on the earlier of the first anniversary of the grant date or the company’s next annual stockholder meeting where directors are elected. This timing links the director’s equity compensation to ongoing board service and the company’s regular governance cycle.

Under which plan were the FR LP Units granted to the director?

The LP Units were granted under FIRST INDUSTRIAL REALTY TRUST INC’s 2024 Stock Incentive Plan. This plan provides equity-based awards, such as LP Units, intended to align the interests of directors and other participants with the company’s long-term performance and shareholder value.