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

Rhea-AI Filing Summary

Modiv Industrial, Inc. director reports dividend reinvestment share acquisition

A director of Modiv Industrial, Inc. (MDV) reported acquiring additional Class C common stock through a dividend reinvestment transaction. On 11/14/2025, the reporting person acquired 111.448 shares of common stock at a price of $13.83 per share. Following this voluntary reported transaction, the director beneficially owns a total of 15,924.1086 shares of Modiv Industrial Class C common stock in direct ownership. The filing indicates the transaction code "J" and notes that the shares were acquired in dividend reinvestment transactions exempt from Section 16 pursuant to 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
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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)
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)		111.448	A	$13.83	15,924.1086	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	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 on this Form 4?

The filing reports that a director of Modiv Industrial, Inc. (MDV) acquired 111.448 shares of Class C common stock on 11/14/2025 through a dividend reinvestment transaction coded as "J."

At what price were the Modiv Industrial (MDV) shares acquired in the reported transaction?

The director acquired the Class C common stock at a price of $13.83 per share as part of the dividend reinvestment transaction.

How many Modiv Industrial (MDV) shares does the reporting person own after the transaction?

After the reported transaction, the director beneficially owns 15,924.1086 shares of Modiv Industrial Class C common stock, held directly.

What is the relationship of the reporting person to Modiv Industrial (MDV)?

The reporting person is identified as a Director of Modiv Industrial, Inc. on the Form 4.

What does the transaction code "J" mean in the Modiv Industrial (MDV) Form 4?

The Form 4 uses transaction code "J" and explains that the shares were acquired in dividend reinvestment transactions that are exempt from Section 16 under Rule 16a-11 and reported voluntarily.

Is the reported Modiv Industrial (MDV) dividend reinvestment transaction exempt from Section 16?

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