[Form 4] Industrial Logistics Properties Trust Insider Trading Activity

Rhea-AI Filing Summary

Matthew P. Jordan, a director of Industrial Logistics Properties Trust (ILPT), reported an award of 40,650 common shares on 09/09/2025 under the issuer's equity compensation plan. After the transaction, he beneficially owned 190,269 shares, held directly. The Form 4 was signed and filed on 09/11/2025. The disclosure states the shares were issued as an equity compensation award and does not include any cash consideration or derivative transactions.

Positive

• Equity award recorded: 40,650 common shares granted pursuant to the issuer's equity compensation plan.
• Increased insider ownership: Beneficial ownership rose to 190,269 shares, held directly.
• Timely disclosure: Form 4 signed on 09/11/2025 reporting a 09/09/2025 transaction and filed by one reporting person.

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine director equity award increases direct insider share ownership, recorded as a non-derivative acquisition.

The filing documents a straightforward grant of 40,650 common shares to a director under the issuer's equity compensation plan, increasing his direct holdings to 190,269. This is a non-derivative transaction with no exercise price or derivative instruments disclosed. The disclosure is standard for executive/director compensation reporting and does not contain additional financial metrics or changes to debt, revenue, or guidance.

Corporate Governance Expert

TL;DR: Standard Section 16 filing showing equity award to a director; complies with reporting requirements.

The Form 4 indicates the award was made pursuant to the issuer's equity compensation plan and was reported by one reporting person. It shows direct beneficial ownership and includes the signature and filing date. The filing contains no unusual terms, amendments, or joint filings, and therefore appears to be a routine insider compensation disclosure consistent with governance and disclosure practices.

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^*

Jordan Matthew P.

(Last) (First) (Middle)

C/O THE RMR GROUP LLC

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

(Street)

NEWTON MA 02458

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

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
Common Shares of Beneficial Interest	09/09/2025		A		40,650	A	(1)	190,269	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. Transaction reported is award of shares pursuant to the Issuer's equity compensation plan.

	/s/ Matthew P. Jordan	09/11/2025
	** 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.

FAQ

What transaction did ILPT director Matthew P. Jordan report on Form 4?

He reported an award of 40,650 common shares received on 09/09/2025 under the issuer's equity compensation plan.

How many ILPT shares does Matthew P. Jordan beneficially own after the transaction?

Following the reported transaction he beneficially owned 190,269 common shares, held directly.

Was the Form 4 filed jointly or by a single reporting person for ILPT?

The Form 4 was filed by one reporting person and signed on 09/11/2025.

What was the reported reason for the share acquisition on the ILPT Form 4?

The filing states the transaction was an award of shares pursuant to the issuer's equity compensation plan.

Did the Form 4 report any derivative transactions or dispositions for Matthew P. Jordan?

No. The filing shows only a non-derivative acquisition of common shares and does not report any derivative transactions or dispositions.