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

Rhea-AI Filing Summary

Modiv Industrial, Inc. reported that one of its directors acquired additional shares of its Class C common stock through dividend reinvestment transactions dated December 15, 2025.

The Form 4 lists two dividend reinvestment acquisitions of 36.7765 and 34.4863 Class C common shares at prices of $13.91 and $14.89, respectively. After these transactions, the director beneficially owned 10,586.8939 Class C common shares held directly. The filing notes that these dividend reinvestment transactions are exempt from Section 16 under Rule 16a-11 and are being reported on a voluntary basis.

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^*

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)
12/15/2025

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	12/15/2025		J(1)		36.7765	A	$13.91	10,552.4076	D
COMMON STOCK, CLASS C	12/15/2025		J(1)		34.4863	A	$14.89	10,586.8939	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	12/15/2025
	** 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 on December 15, 2025?

The company reported that a director acquired additional Class C common stock of Modiv Industrial, Inc. through dividend reinvestment transactions dated December 15, 2025.

How many Modiv Industrial (MDV) Class C common shares does the director beneficially own after the reported transactions?

Following the reported dividend reinvestment transactions, the director beneficially owned 10,586.8939 shares of Modiv Industrial’s Class C common stock, held directly.

How many Modiv Industrial (MDV) shares were acquired in each dividend reinvestment transaction?

The Form 4 shows two acquisitions: one for 36.7765 Class C common shares and another for 34.4863 Class C common shares, both reported as acquisitions.

At what prices were the Modiv Industrial (MDV) dividend reinvestment shares acquired?

The dividend reinvestment shares of Class C common stock were acquired at prices of $13.91 per share and $14.89 per share, as reported in the Form 4.

Are the reported Modiv Industrial (MDV) transactions exempt from Section 16 reporting requirements?

The explanation notes that the shares were acquired in dividend reinvestment transactions that are exempt from Section 16 pursuant to Rule 16a-11 and are being reported on a voluntary basis.

Is this Modiv Industrial (MDV) Form 4 filed for one or multiple reporting persons?

The filing indicates that it is a Form filed by one reporting person, rather than by more than one reporting person.