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

Rhea-AI Filing Summary

Modiv Industrial (MDV) reported an insider transaction by a director on 10/15/2025. The filing shows an acquisition of 112.6538 shares of Common Stock, Class C at a price of $13.59 per share, reported with transaction code J.

The footnote states the shares were acquired through dividend reinvestment transactions exempt from Section 16 under Rule 16a-11 and reported voluntarily. Following the transaction, the director beneficially owned 15,812.6606 shares, held directly.

Insights

Governance & Insider Transactions Analyst

Routine DRIP acquisition; neutral governance signal.

A director of Modiv Industrial reported acquiring 112.6538 shares at $13.59 on 10/15/2025, coded J. The footnote identifies the activity as dividend reinvestment under Rule 16a-11, which is commonly exempt and administrative in nature.

Post-transaction beneficial ownership stands at 15,812.6606 shares, held directly. As a dividend reinvestment entry, market impact is typically minimal, and it does not imply a change in strategy or outlook on its own.

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
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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^*

SMITH KIMBERLY J

(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)
10/15/2025

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	10/15/2025		J(1)		112.6538	A	$13.59	15,812.6606	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 Kimberly J. Smith	10/15/2025
	** 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 did Modiv Industrial (MDV) disclose in this Form 4?

A director acquired 112.6538 shares of Common Stock, Class C at $13.59 on 10/15/2025, coded J.

What is the nature of the MDV insider transaction?

The filing notes shares were acquired via dividend reinvestment under Rule 16a-11 and reported voluntarily.

How many MDV shares does the insider own after the transaction?

Following the transaction, the director beneficially owned 15,812.6606 shares, held directly.

What does transaction code J indicate for MDV’s Form 4?

Code J reflects a transaction type specified in the footnote as dividend reinvestment under an exemption.

Was this MDV trade part of a Rule 10b5-1 plan?

The form includes a checkbox reference, but the excerpt does not indicate it was checked.

What security class was involved in the MDV insider transaction?

Common Stock, Class C of Modiv Industrial, Inc.