[Form 4] MODIV INDUSTRIAL, INC. Insider Trading Activity

Rhea-AI Filing Summary

MODIV Industrial, Inc. (MDV) director Christopher R. Gingras reported small purchases of Class C common stock through dividend reinvestment. On 11/14/2025, 36.7286 shares were acquired at $13.83 per share and 35.5491 shares were acquired at $14.35 per share, both coded as transaction type J. After these dividend reinvestment transactions, Gingras beneficially owned 10,515.6311 shares of Class C common stock in direct ownership. The activity is noted as dividend reinvestment under Rule 16a-11.

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^*

Gingras Christopher Raymond

(Last) (First) (Middle)

1500 NORTH GRANT STREET, #5609

(Street)

DENVER CO 80203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MODIV INDUSTRIAL, INC. [ MDV ]

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)
11/14/2025

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 STOCK, CLASS C	11/14/2025		J(1)		36.7286	A	$13.83	10,480.082	D
COMMON STOCK, CLASS C	11/14/2025		J(1)		35.5491	A	$14.35	10,515.6311	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. Shares acquired in dividend reinvestment transactions exempt from Section 16 pursuant to Rule 16a-11 are being reported voluntarily on this Form 4.

Remarks:

	/s/ John Raney, by Power of Attorney for Christopher R. Gingras	11/17/2025
	** 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 insider transaction did MODIV Industrial (MDV) report for Christopher R. Gingras?

Christopher R. Gingras, a director of MODIV Industrial, Inc. (MDV), reported acquisitions of Class C common stock through dividend reinvestment transactions on 11/14/2025.

How many MODIV Industrial (MDV) shares did the director acquire on 11/14/2025?

On 11/14/2025, Christopher R. Gingras acquired 36.7286 Class C common shares at $13.83 and 35.5491 shares at $14.35 through dividend reinvestment.

What is Christopher R. Gingras’s total MODIV Industrial (MDV) shareholding after the reported trades?

Following the reported dividend reinvestment transactions, Christopher R. Gingras beneficially owned 10,515.6311 shares of MODIV Industrial Class C common stock with direct ownership.

What transaction code was used for the MODIV Industrial (MDV) insider trades?

The transactions are listed with code J, with a note stating the shares were acquired in dividend reinvestment transactions exempt from Section 16 pursuant to Rule 16a-11.

Are the reported MODIV Industrial (MDV) insider transactions part of a dividend reinvestment plan?

Yes. The explanation states that the shares were acquired in dividend reinvestment transactions exempt from Section 16 under Rule 16a-11, and they are being reported voluntarily.

What is the ownership form of the MODIV Industrial (MDV) shares held by the director?

The 10,515.6311 shares of Class C common stock held after the transactions are reported as direct (D) ownership.