ILPT CFO has 1,791 shares withheld for taxes

ILPT’s CFO had shares withheld to cover taxes on vested equity, leaving 22,524 shares directly held and involving no open-market sale.

Rhea-AI Filing Summary

Industrial Logistics Properties Trust (ILPT) reported that its Chief Financial Officer and Treasurer, Tiffany R. Sy, had 1,791 Common Shares of Beneficial Interest withheld on September 17, 2026 to pay tax liabilities upon vesting of equity awards, at $7.75 per share. After this tax-withholding transaction, she directly held 22,524 shares. This was not an open-market sale, and no Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Tax Withholding: 1,791 shares

Tax Withholding 1 txn

Insider Sy Tiffany R

Role CFO and Treasurer

Type	Security	Shares	Price	Value
Tax Withholding	Common Shares of Beneficial Interest F1	1,791	$7.75	$14K

Holdings After Transaction: Common Shares of Beneficial Interest — 22,524 shares (Direct)

Footnotes (1)

1. F1. Payment of tax liability by withholding securities incident to the vesting of the security issued in accordance with Rule 16b-3.

Key Figures

Shares withheld for taxes: 1,791 shares Tax-withholding price per share: $7.75 per share Shares held after transaction: 22,524 shares +1 more

4 metrics

Shares withheld for taxes 1,791 shares Withheld on September 17, 2026 to pay tax liability on vesting

Tax-withholding price per share $7.75 per share Price applied to 1,791 ILPT shares withheld on September 17, 2026

Shares held after transaction 22,524 shares Directly owned by CFO Tiffany R. Sy following the September 17, 2026 withholding

Transactions for tax liability 1 transaction, 1,791 shares Code F disposition to pay tax liability by withholding securities

Key Terms

Common Shares of Beneficial Interest, Payment of tax liability by withholding securities, Rule 16b-3

3 terms

Common Shares of Beneficial Interest financial

"security title is Common Shares of Beneficial Interest"

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

Payment of tax liability by withholding securities financial

"Payment of tax liability by withholding securities incident to the vesting"

Rule 16b-3 regulatory

"issued in accordance with Rule 16b-3"

Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did ILPT report for CFO Tiffany R. Sy?

ILPT reported that CFO and Treasurer Tiffany R. Sy had 1,791 common shares withheld on September 17, 2026 to pay tax liabilities related to vesting of equity awards, at $7.75 per share. This reduced her holdings but was not an open-market sale.

How many ILPT shares does the CFO hold after this Form 4 transaction?

After the reported tax-withholding transaction, CFO Tiffany R. Sy directly holds 22,524 Common Shares of Beneficial Interest. This figure reflects her position immediately following the withholding of 1,791 shares for tax payment.

Was the ILPT CFO’s September 17, 2026 transaction an open-market sale?

No. The Form 4 states that 1,791 shares were withheld to pay tax liability incident to vesting of equity awards under Rule 16b-3. It was a tax-withholding disposition, not an open-market purchase or sale of ILPT shares.

What was the share price used in the ILPT CFO’s tax-withholding transaction?

The tax-withholding disposition used a price of $7.75 per share for the 1,791 ILPT common shares withheld on September 17, 2026 to satisfy the CFO’s tax liability related to the vesting equity award.

Was the ILPT CFO’s Form 4 transaction made under a Rule 10b5-1 trading plan?

No. The filing indicates that the transaction was not made pursuant to a Rule 10b5-1 trading plan. It is described instead as payment of tax liability by withholding securities upon vesting under Rule 16b-3.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/21/2026 - 04:46 PM Accepted by SEC EDGAR 09/21/2026 - 04:46 PM Learn about SEC filing dates

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^*

Sy Tiffany R

(Last) (First) (Middle)

C/O THE RMR GROUP LLC

TWO NEWTON PL., 255 WASH. ST., STE. 300

(Street)

NEWTON MASSACHUSETTS 02458

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Industrial Logistics Properties Trust [ ILPT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest	09/17/2026		F(1)		1,791	D	$7.75	22,524	D

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

Explanation of Responses:

1. Payment of tax liability by withholding securities incident to the vesting of the security issued in accordance with Rule 16b-3.

	/s/ Tiffany R. Sy	09/21/2026
	** 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)