First Industrial Realty Trust (FR) General Counsel reports LP unit grants

Rhea-AI Filing Summary

First Industrial Realty Trust reported an equity award transaction involving its General Counsel, who is an officer of the company. On January 1, 2026, the officer received 13,342 common units of limited partnership interest (LP Units) in First Industrial, L.P. upon vesting of Performance Units that were granted on January 1, 2023 under the company’s 2014 Stock Incentive Plan. Each LP Unit may be converted into one share of the company’s common stock.

On the same date, the officer was also granted 3,240 additional LP Units under the 2024 Stock Incentive Plan. These LP Units vest in three equal installments on January 1, 2027, 2028 and 2029 and, after certain conditions and conversions within First Industrial, L.P., may ultimately be converted on a one-for-one basis into shares of common stock. Following these transactions, the officer reported beneficial ownership of 31,156 and then 34,396 derivative securities, held directly.

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^*

Matthews Rice Jennifer

(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)

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

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		13,342		(1)	(1)	Common Stock	13,342	$0	31,156	D
LP Units	(2)	01/01/2026		A		3,240		(3)	(4)	Common Stock	3,240	$0	34,396	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	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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

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

The company reported that its General Counsel received equity awards in the form of limited partnership units in First Industrial, L.P. on January 1, 2026, tied to its stock incentive plans.

How many LP Units vested for the First Industrial Realty Trust General Counsel on January 1, 2026?

The General Counsel received 13,342 LP Units upon the vesting of Performance Units granted on January 1, 2023 under the 2014 Stock Incentive Plan.

What new equity grant did the First Industrial Realty Trust (FR) General Counsel receive in 2026?

On January 1, 2026, the General Counsel was granted 3,240 LP Units under the company’s 2024 Stock Incentive Plan.

When do the newly granted LP Units for the First Industrial Realty Trust General Counsel vest?

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

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

Yes. Each LP Unit in First Industrial, L.P. may ultimately be converted into a common unit and then into one share of First Industrial Realty Trust common stock on a one-for-one basis, subject to the plan terms described.

How many derivative securities did the First Industrial Realty Trust General Counsel report owning after these transactions?

After the reported transactions, the General Counsel reported beneficial ownership of 31,156 and then 34,396 derivative securities, held directly.