Director at Modiv Industrial (MDV) awarded 1,047 Class C shares

Rhea-AI Filing Summary

SMITH KIMBERLY J reported acquisition or exercise transactions in this Form 4 filing.

MODIV INDUSTRIAL, INC. director Kimberly J. Smith received a grant of 1,047.486 shares of Class C common stock at $14.32 per share. This compensation-related award increased her directly held stake to 18,367.8963 shares, representing a routine, non-derivative equity grant rather than an open-market purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SMITH KIMBERLY J

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 — 18,367.896 shares (Direct)

Footnotes (1)

Key Figures

Shares granted: 1,047.486 shares Grant price per share: $14.32 per share Shares held after grant: 18,367.8963 shares

3 metrics

Shares granted 1,047.486 shares Non-derivative equity grant to director Kimberly J. Smith

Grant price per share $14.32 per share Reference price for Class C common stock grant

Shares held after grant 18,367.8963 shares Total directly owned by Kimberly J. Smith after transaction

Key Terms

COMMON STOCK, CLASS C, non-derivative, Grant, award, or other acquisition, Form 4

4 terms

COMMON STOCK, CLASS C financial

"security_title: "COMMON STOCK, CLASS C""

non-derivative financial

"transaction_type: "non-derivative""

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

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.

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^*

SMITH KIMBERLY J

(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	18,367.8963	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	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 MODIV INDUSTRIAL (MDV) report for Kimberly J. Smith?

MODIV INDUSTRIAL reported that director Kimberly J. Smith received a grant of 1,047.486 Class C common shares. The award was recorded at $14.32 per share, reflecting a routine equity-based compensation grant rather than an open-market stock purchase or sale.

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

The MDV insider transaction was a compensation grant, coded as “Grant, award, or other acquisition.” Director Kimberly J. Smith received 1,047.486 shares of Class C common stock at a reference price of $14.32 per share, not an open-market purchase.

How many MODIV INDUSTRIAL (MDV) shares does Kimberly J. Smith hold after this Form 4?

After the reported grant, director Kimberly J. Smith directly holds 18,367.8963 shares of MODIV INDUSTRIAL Class C common stock. This updated balance reflects the addition of 1,047.486 newly awarded shares from the non-derivative equity grant reported in the Form 4 filing.

What does transaction code A mean in the MDV Form 4 filing?

In this MDV Form 4, transaction code A denotes a “Grant, award, or other acquisition.” It indicates that 1,047.486 shares of Class C common stock were awarded to director Kimberly J. Smith as equity compensation, rather than bought on the open market.

Is the MODIV INDUSTRIAL (MDV) insider transaction a derivative exercise?

No, the MODIV INDUSTRIAL transaction is classified as non-derivative. Director Kimberly J. Smith was granted 1,047.486 common shares directly, with no associated options, warrants, or other derivatives reported, and no derivative positions listed in the derivativeSummary section of the Form 4 data.