First Industrial Realty Trust (NYSE: FR) CFO receives equity awards in LP Units

Rhea-AI Filing Summary

First Industrial Realty Trust01/01/2026, upon vesting of Performance Units originally issued on January 1, 2023 under the 2014 Stock Incentive Plan. Each LP Unit may be converted into one share of the company’s common stock.

In addition, the CFO was granted 6,834 LP Units in First Industrial, L.P. under the 2024 Stock Incentive Plan. These LP Units vest in three equal installments on January 1, 2027, January 1, 2028 and January 1, 2029. Once vested and after receiving certain allocations, each LP Unit can ultimately convert on a one-for-one basis into a share of common stock.

01/05/2026 - 04:40 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

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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^*

MUSIL SCOTT A

(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)
	Chief Financial Officer

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		23,570		(1)	(1)	Common Stock	23,570	$0	85,764	D
LP Units	(2)	01/01/2026		A		6,834		(3)	(4)	Common Stock	6,834	$0	92,598	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).
** 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) disclose?

The company disclosed on a Form 4 that its Chief Financial Officer received and was granted limited partnership units in First Industrial, L.P. that are ultimately convertible into shares of common stock.

How many LP Units did the FR CFO receive from vesting performance units?

The CFO received 23,570 LP Units in First Industrial, L.P. on 01/01/2026 upon the vesting of Performance Units issued on January 1, 2023 under the 2014 Stock Incentive Plan.

What new equity award did the First Industrial Realty Trust CFO receive in 2026?

The CFO was granted 6,834 LP Units in First Industrial, L.P. under the company’s 2024 Stock Incentive Plan, as reported for a transaction dated 01/01/2026.

How can the LP Units reported for FR’s CFO convert into common stock?

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

What is the vesting schedule for the 6,834 LP Units granted to the FR CFO?

The 6,834 LP Units granted under the 2024 Stock Incentive Plan vest in three equal installments on January 1, 2027, January 1, 2028 and January 1, 2029.

What role does the reporting person hold at First Industrial Realty Trust (FR)?

The reporting person is an officer of First Industrial Realty Trust, serving as the company’s Chief Financial Officer, as indicated in the filing.