Dividend reinvestment by Modiv Industrial (MDV) director adjusts share holdings

Rhea-AI Filing Summary

MODIV INDUSTRIAL, INC. director Christopher Raymond Gingras reported an exempt dividend reinvestment transaction on shares of Class C common stock. He reported 29.9615 shares involved at a reference price of $18.17 per share, with his direct holdings shown as 12,938.1256 shares following the transaction. The filing notes these shares were acquired through dividend reinvestment transactions that are exempt from Section 16 under Rule 16a-11 and are being reported voluntarily, indicating a routine, non-open-market adjustment to his ownership stake.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Gingras Christopher Raymond

Role null

Type	Security	Shares	Price	Value
Other	COMMON STOCK, CLASS C	29.962	$18.17	$544.40

Holdings After Transaction: COMMON STOCK, CLASS C — 12,938.126 shares (Direct, null)

Footnotes (1)

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Key Figures

Dividend reinvestment shares: 29.9615 shares Reference price per share: $18.17 per share Shares held after transaction: 12,938.1256 shares

3 metrics

Dividend reinvestment shares 29.9615 shares Class C common stock in "other" transaction

Reference price per share $18.17 per share Price associated with 29.9615 shares

Shares held after transaction 12,938.1256 shares Director’s direct Class C common holdings post-transaction

Key Terms

Form 4, Section 16, Rule 16a-11, dividend reinvestment transactions, +1 more

5 terms

Form 4 regulatory

"are being reported voluntarily on this Form 4."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Section 16 regulatory

"transactions exempt from Section 16 pursuant to Rule 16a-11"

Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.

Rule 16a-11 regulatory

"exempt from Section 16 pursuant to Rule 16a-11"

dividend reinvestment transactions financial

"Shares acquired in dividend reinvestment transactions exempt from Section 16"

Other acquisition or disposition financial

"transaction_code_description": "Other acquisition or disposition""

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 COLORADO 80203

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/15/2026		J(1)		29.9615	A	$18.17	12,938.1256	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	05/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did MODIV INDUSTRIAL (MDV) report on this Form 4?

MODIV INDUSTRIAL director Christopher Raymond Gingras reported a dividend reinvestment transaction. The filing shows 29.9615 shares of Class C common stock tied to dividend reinvestment activity, characterized as an "other" transaction rather than an open-market buy or sell.

How many MODIV INDUSTRIAL (MDV) shares did the director report after the transaction?

The director reported holding 12,938.1256 shares after the transaction. This figure reflects his direct ownership of Class C common stock as shown in the Form 4, following the small dividend reinvestment-related adjustment of 29.9615 shares.

Was the MODIV INDUSTRIAL (MDV) insider transaction an open-market trade?

No, the transaction was reported as a dividend reinvestment exempt from Section 16. Footnotes state the shares were acquired through dividend reinvestment transactions under Rule 16a-11, and the Form 4 is being filed on a voluntary basis.

What price per share is referenced in the MODIV INDUSTRIAL (MDV) Form 4?

The Form 4 references a price of $18.17 per share for the transaction. This price is associated with the 29.9615 Class C common shares involved in the dividend reinvestment-related entry reported by director Christopher Raymond Gingras.

How is the MODIV INDUSTRIAL (MDV) insider transaction coded on the Form 4?

The transaction is coded "J" for other acquisition or disposition. It is further categorized as “other transaction” and linked to restructuring-type activity, reflecting dividend reinvestment rather than a standard market purchase or sale of shares.