Modiv Industrial director acquires 1,042 Class C shares

Modiv Industrial, Inc. director Thomas H. Nolan, Jr. reported acquiring additional shares of the company’s Class C common stock.

Rhea-AI Filing Summary

Modiv Industrial, Inc. director Thomas H. Nolan, Jr. reported acquiring additional shares of the company’s Class C common stock. On 12/31/2025, he acquired 1,042.3906 shares at a price of $14.39 per share. Following this transaction, he beneficially owned 29,069.0914 shares held directly.

Insider Trade Summary

Grant/Award: 1,042.3906 shares

Grant/Award 1 txn

Insider NOLAN THOMAS H JR

Role Director

Type	Security	Shares	Price	Value
Grant/Award	COMMON STOCK, CLASS C	1,042.3906	$14.39	$15K

Holdings After Transaction: COMMON STOCK, CLASS C — 29,069.0914 shares (Direct)

FAQ

What insider transaction did Modiv Industrial (MDV) report in this Form 4?

The Form 4 reports that director Thomas H. Nolan, Jr. acquired 1,042.3906 shares of Modiv Industrial, Inc. Class C common stock on 12/31/2025 at a price of $14.39 per share.

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

After the reported transaction, 29,069.0914 shares of Modiv Industrial, Inc. Class C common stock were beneficially owned by the reporting person.

What is the role of the reporting person at Modiv Industrial (MDV)?

The reporting person, Thomas H. Nolan, Jr., is listed as a director of Modiv Industrial, Inc.

Was the Modiv Industrial (MDV) insider transaction a purchase or a sale?

The transaction in the Form 4 is marked with code A, indicating an acquisition of shares rather than a disposition.

How are the acquired Modiv Industrial (MDV) shares held by the insider?

The 29,069.0914 shares beneficially owned following the transaction are reported as held in direct (D) ownership.

Who signed the Modiv Industrial (MDV) Form 4?

The Form 4 was signed by /s/ John Raney, acting by power of attorney for Thomas H. Nolan, Jr., dated 01/02/2026.

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Accepted by SEC EDGAR 01/02/2026 - 01:33 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).

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^*

NOLAN THOMAS H JR

(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)
12/31/2025

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	12/31/2025		A		1,042.3906	A	$14.39	29,069.0914	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 Thomas H. Nolan, Jr.	01/02/2026
	** 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.