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  4. [Form 4] FIRST INDUSTRIAL REALTY TRUST INC Insider Trading Activity

Director at First Industrial (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 Teresa Bryce Bazemore received a grant of 2,419 LP Units in First Industrial L.P. as a compensation award under the company’s 2024 Stock Incentive Plan. These LP Units carry a zero dollar exercise price.

Once vested and after receiving certain allocations, each LP Unit will automatically convert 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 on the earlier of the first anniversary of the grant or the company’s next annual stockholder meeting at which directors are elected. Following this grant, Bazemore directly holds 14,526 LP Units.

Positive

  • None.

Negative

  • None.
Insider BAZEMORE TERESA BRYCE
Role null
Type Security Shares Price Value
Grant/Award LP Units 2,419 $0.00 --
Holdings After Transaction: LP Units — 14,526 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 Grant to director on April 30, 2026
Total LP Units after grant 14,526 LP Units Director’s direct holdings following transaction
Exercise price $0.0000 per LP Unit Grant under 2024 Stock Incentive Plan
LP Unit to common unit conversion 1:1 ratio Each vested LP Unit converts into one common unit of First Industrial L.P.
Common unit to Common Stock conversion 1:1 ratio Each common unit may be converted into one share of Common Stock
LP Units financial
"Represents units of limited partnership interest ("LP Units") in First Industrial L.P."
First Industrial L.P. financial
"Represents units of limited partnership interest ("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."
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 →
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*
BAZEMORE TERESA BRYCE
(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)
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$014,526D
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 director Teresa Bryce Bazemore acquire in First Industrial (FR) Form 4?

Director Teresa Bryce Bazemore received a grant of 2,419 LP Units in First Industrial L.P. as compensation. These units were granted at a zero dollar exercise price under the company’s 2024 Stock Incentive Plan, increasing her direct LP Unit holdings to 14,526.

How can the newly granted LP Units in First Industrial (FR) convert into Common Stock?

Each LP Unit, once vested and after receiving certain allocations, automatically converts one-for-one into a common unit of First Industrial L.P. That common unit may then be converted into one share of the company’s Common Stock, effectively linking LP Units to potential future common shares.

When do the LP Units granted to the First Industrial (FR) director vest?

The LP Units vest on the earlier of two events: the first anniversary of the grant date, or the company’s next annual stockholder meeting at which directors are elected. This schedule ties vesting to either time served or the upcoming director election meeting.

How many LP Units does the First Industrial (FR) director hold after this grant?

After receiving 2,419 additional LP Units, Teresa Bryce Bazemore holds a total of 14,526 LP Units directly. This total reflects her updated derivative interest in First Industrial L.P. following the compensation award reported in the Form 4 filing.

What plan governs the LP Unit grant reported for First Industrial (FR)?

The grant of 2,419 LP Units to director Teresa Bryce Bazemore was made under First Industrial Realty Trust Inc.’s 2024 Stock Incentive Plan. This plan allows the company to provide equity-based awards that align director compensation with the company’s long-term performance.