ILPT (ILPT) CEO Yael Duffy receives 15,625-share equity award

Rhea-AI Filing Summary

Duffy Yael reported acquisition or exercise transactions in this Form 4 filing.

Industrial Logistics Properties Trust reported that President and CEO Yael Duffy received an award of 15,625 Common Shares of Beneficial Interest on March 18, 2026 pursuant to the company’s equity compensation plan. This grant increased her directly held stake to 74,185 common shares following the transaction.

Insights

Insider transactions analyst

CEO received a stock grant as routine equity compensation, not an open-market trade.

President and CEO Yael Duffy was granted 15,625 Common Shares of Beneficial Interest at a stated price of $0.00 per share. The footnote explains this is an award under the company’s equity compensation plan, indicating a compensation-related issuance rather than a market purchase.

After the grant, her direct holdings rose to 74,185 common shares, showing increased equity exposure aligned with shareholders. Because this is a standard compensation grant with no associated sale, it carries a neutral information signal compared with discretionary open-market buying or selling.

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^*

Duffy Yael

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

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	03/18/2026		A		15,625	A	(1)	74,185	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/ Yael Duffy	03/19/2026
	** 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)

FAQ

What insider transaction did ILPT President and CEO Yael Duffy report?

Yael Duffy reported receiving an award of 15,625 Common Shares of Beneficial Interest in Industrial Logistics Properties Trust. The shares were granted under the company’s equity compensation plan, increasing her direct ownership stake without any open-market buying or selling activity disclosed.

Was the ILPT CEO’s Form 4 transaction a stock purchase or a grant?

The Form 4 shows a stock grant to the ILPT CEO, not a market purchase. Transaction code A and a $0.00 price indicate a compensation-related award of 15,625 common shares under the equity plan, rather than an open-market buy at prevailing trading prices.

How many ILPT shares does CEO Yael Duffy hold after this Form 4 award?

Following the reported equity award, CEO Yael Duffy directly holds 74,185 Common Shares of Beneficial Interest in ILPT. This total reflects the addition of 15,625 shares granted under the company’s equity compensation plan, as disclosed in the Form 4 filing and related footnote.

What does transaction code A mean in the ILPT Form 4 for Yael Duffy?

Transaction code A in the ILPT Form 4 denotes a grant, award, or other acquisition of shares. For Yael Duffy, it corresponds to 15,625 common shares awarded under the issuer’s equity compensation plan, rather than an open-market buy, sale, or option exercise transaction.

Does the ILPT CEO’s Form 4 indicate any stock sales or disposals?

The Form 4 for ILPT’s CEO shows only an acquisition via a share award and no sales. The transaction summary lists one acquisition and zero disposals, indicating no open-market selling, tax withholding dispositions, or gifts in this specific insider report for Yael Duffy.