Director at MODIV Industrial (MDV) awarded over 1,000 Class C shares

Rhea-AI Filing Summary

MODIV INDUSTRIAL, INC. director Christopher Raymond Gingras received a grant of 1,047.4860 shares of Common Stock, Class C on March 31, 2026. This compensation-related award increased his direct holdings to 12,873.6058 shares, and was reported as a non-derivative acquisition rather than an open-market purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Gingras Christopher Raymond

Role Director

Type	Security	Shares	Price	Value
Grant/Award	COMMON STOCK, CLASS C	1,047.486	$14.32	$15K

Holdings After Transaction: COMMON STOCK, CLASS C — 12,873.606 shares (Direct)

Footnotes (1)

Key Figures

Shares granted: 1,047.4860 shares Reference price per share: $14.3200 per share Shares held after transaction: 12,873.6058 shares

3 metrics

Shares granted 1,047.4860 shares Equity award on March 31, 2026

Reference price per share $14.3200 per share Reported value for the grant

Shares held after transaction 12,873.6058 shares Director’s direct holdings post-grant

Key Terms

Form 4, non-derivative, grant/award acquisition, Common Stock, Class C

4 terms

Form 4 regulatory

"INSIDER FILING DATA (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.

non-derivative financial

""transaction_type": "non-derivative""

grant/award acquisition financial

""transaction_action": "grant/award acquisition""

Common Stock, Class C financial

""security_title": "COMMON STOCK, CLASS C""

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)
03/31/2026

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	03/31/2026		A		1,047.486	A	$14.32	12,873.6058	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 Christopher R. Gingras	04/01/2026
	** 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 MDV director Christopher Gingras report?

Director Christopher Raymond Gingras reported receiving a grant of 1,047.4860 shares of MODIV INDUSTRIAL, INC. Common Stock, Class C. The transaction was classified as a non-derivative award, reflecting compensation rather than an open-market trade, and increased his directly held position in the company.

Was the MDV insider transaction a stock purchase or a grant?

The MDV insider transaction was a grant, not an open-market purchase. It is coded as an acquisition from a grant or award, indicating compensation-related stock rather than shares bought on the market, which typically carries weaker signaling value about the insider’s view of the stock.

How many MDV shares does Christopher Gingras hold after this Form 4?

After the reported grant, Christopher Raymond Gingras directly holds 12,873.6058 shares of MODIV INDUSTRIAL, INC. Common Stock, Class C. This figure reflects his position following the award of 1,047.4860 additional shares disclosed in the Form 4 insider transaction report.

What price per share was used in the MDV insider stock grant?

The reported stock grant to Christopher Raymond Gingras used a price of $14.3200 per share for MODIV INDUSTRIAL, INC. Common Stock, Class C. This value is typically a reporting or fair value reference, not necessarily an executed market trade price, since the transaction was an equity award.

Does the MDV Form 4 show any stock sales by Christopher Gingras?

The Form 4 for MODIV INDUSTRIAL, INC. shows no stock sales by Christopher Raymond Gingras. It reports only one acquisition transaction, a grant of 1,047.4860 shares, with no corresponding dispositions, exercises, gifts, or tax-withholding share transfers in the disclosed summary.