Form 4: Gingras Christopher Raymond reports multiple insider transactions in MDV

Rhea-AI Filing Summary

Gingras Christopher Raymond reported multiple insider transaction types in a Form 4 filing for MDV. The filing lists transactions totaling 80 shares at a weighted average price of $14.59 per share. Following the reported transactions, holdings were 11,754 shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Gingras Christopher Raymond

Role Director

Type	Security	Shares	Price	Value
Other	COMMON STOCK, CLASS C	44.745	$14.24	$637.17
Other	COMMON STOCK, CLASS C	35.473	$15.04	$533.51

Holdings After Transaction: COMMON STOCK, CLASS C — 11,753.884 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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)
02/13/2026

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	02/13/2026		J(1)		44.745	A	$14.24	11,753.8839	D
COMMON STOCK, CLASS C	02/13/2026		J(1)		35.4729	A	$15.04	11,789.3568	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	02/17/2026
	** 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.

FAQ

What insider activity did MDV director Christopher Gingras report?

Director Christopher R. Gingras reported two dividend reinvestment transactions in Modiv Industrial (MDV) Class C common stock. On February 13, 2026, he received 44.745 shares at $14.24 and 35.4729 shares at $15.04 through an exempt dividend reinvestment plan.

How many Modiv Industrial (MDV) shares does the director own after this Form 4?

After these dividend reinvestment transactions, Christopher R. Gingras directly owns 11,789.3568 shares of Modiv Industrial Class C common stock. This reflects incremental shares added through automatic dividend reinvestment rather than open-market buying or selling activity.

What type of transactions were reported in the MDV Form 4 filing?

The Form 4 shows dividend reinvestment transactions, identified with transaction code J. The footnote explains that the shares were acquired under a dividend reinvestment plan exempt from Section 16 pursuant to Rule 16a-11 and are being reported voluntarily.

Were the MDV insider transactions open-market purchases or sales?

The reported transactions were not open-market purchases or sales. They represent shares acquired automatically through dividend reinvestment, as noted in the footnote citing Rule 16a-11. The filing characterizes them as exempt dividend reinvestment activity voluntarily disclosed.

What prices were used for the MDV dividend reinvestment shares?

The dividend reinvestment transactions used prices of $14.24 and $15.04 per share for Modiv Industrial Class C common stock. These prices determined how many shares, 44.745 and 35.4729 respectively, were credited to director Christopher R. Gingras’s direct holdings.

Does the MDV Form 4 indicate direct or indirect ownership of the shares?

The filing indicates direct ownership of the shares. Both dividend reinvestment transactions are marked with ownership code D, and there is no nature of indirect beneficial ownership disclosed, meaning the reported 11,789.3568 shares are held directly by Christopher R. Gingras.