MDV Form 4: Director Kimberly Smith Buys 1,024 Shares at $14.64

Kimberly J. Smith, a director of Modiv Industrial, Inc. (MDV), reported purchasing 1,024.5902 shares of Class C common stock on 09/30/2025 at $14.64 per share.

Rhea-AI Filing Summary

Kimberly J. Smith, a director of Modiv Industrial, Inc. (MDV), reported purchasing 1,024.5902 shares of Class C common stock on 09/30/2025 at $14.64 per share. After the transaction she beneficially owned 15,700.0068 shares. The Form 4 was signed by John Raney by power of attorney on 10/01/2025.

Positive

• Director purchase disclosed: Kimberly J. Smith acquired 1,024.5902 Class C shares, aligning insider interests with shareholders

Negative

• None.

Insights

Financial Analyst

TL;DR: A director made a modest open-market purchase; transaction size appears routine and not material to valuation.

The Form 4 discloses a 9/30/2025 acquisition of 1,024.5902 Class C shares at $14.64, increasing the director's beneficial holding to 15,700.0068 shares. The filing shows standard disclosure and a signature by power of attorney on 10/01/2025. Given the absolute size relative to typical institutional holdings, this is likely an individual-level transaction without clear material impact on company fundamentals.

Corporate Governance Expert

TL;DR: Routine insider purchase by a director; disclosure complies with Section 16 reporting requirements.

The report identifies Kimberly J. Smith as a director who acquired shares and properly filed a Form 4. The signature by an agent under power of attorney is noted, which is acceptable practice when authorized. There are no derivative transactions or other governance concerns disclosed in this filing.

Insider Trade Summary

Grant/Award: 1,024.5902 shares

Grant/Award 1 txn

Insider SMITH KIMBERLY J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	COMMON STOCK, CLASS C	1,024.5902	$14.64	$15K

Holdings After Transaction: COMMON STOCK, CLASS C — 15,700.0068 shares (Direct)

FAQ

What did MDV director Kimberly J. Smith report on Form 4?

She reported acquiring 1,024.5902 shares of Class C common stock on 09/30/2025 at a price of $14.64 per share.

How many MDV shares does Kimberly J. Smith own after the transaction?

She beneficially owned 15,700.0068 shares following the reported transaction.

When was the Form 4 signed and by whom?

The Form 4 was signed on 10/01/2025 by John Raney, acting under power of attorney for Kimberly J. Smith.

Was the reported transaction in MDV stock a purchase or a sale?

The transaction was an acquisition (purchase), reported with Transaction Code 'A'.

Does the filing show any derivative securities transactions?

No. Table II for derivative securities contains no entries; only a non-derivative purchase is reported.

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Accepted by SEC EDGAR 10/01/2025 - 07:57 PM Learn about SEC filing dates

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).

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)
09/30/2025

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	09/30/2025		A		1,024.5902	A	$14.64	15,700.0068	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:

Remarks:

	/s/ John Raney, by Power of Attorney for Kimberly J. Smith	10/01/2025
	** 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.