Modiv Industrial director reports dividend reinvestment acquisition

Modiv Industrial, Inc. director Kimberly J. Smith reported acquiring 111.5917 shares of Class C common stock on 12/15/2025 through dividend reinvestment.

Rhea-AI Filing Summary

Modiv Industrial, Inc. director Kimberly J. Smith reported acquiring 111.5917 shares of Class C common stock on 12/15/2025 through dividend reinvestment. The shares were credited at a price of $13.91 per share under a dividend reinvestment transaction that is exempt from Section 16 under Rule 16a-11 and is being reported voluntarily.

After this transaction, Smith directly beneficially owned 16,035.7003 shares of Modiv Industrial common stock. No derivative securities were reported in the filing.

Insider Trade Summary

Other: 111.5917 shares

Other 1 txn

Insider SMITH KIMBERLY J

Role Director

Type	Security	Shares	Price	Value
Other	COMMON STOCK, CLASS C	111.5917	$13.91	$2K

Holdings After Transaction: COMMON STOCK, CLASS C — 16,035.7003 shares (Direct)

Footnotes (1)

1. F1. Shares acquired in dividend reinvestment transactions exempt from Section 16 pursuant to Rule 16a-11 are being reported voluntarily on this Form 4.

FAQ

What insider transaction did MDV report for Kimberly J. Smith?

Kimberly J. Smith, a director of Modiv Industrial, Inc., reported acquiring 111.5917 shares of Class C common stock on 12/15/2025 in a dividend reinvestment transaction.

How many Modiv Industrial (MDV) shares did Kimberly J. Smith own after the transaction?

Following the reported transaction, Kimberly J. Smith directly beneficially owned 16,035.7003 shares of Modiv Industrial common stock.

What was the price per share for Kimberly J. Smith’s Modiv Industrial (MDV) acquisition?

The 111.5917 shares of Modiv Industrial Class C common stock were credited at a price of $13.91 per share.

How were the new Modiv Industrial (MDV) shares acquired by Kimberly J. Smith?

The shares were acquired through dividend reinvestment transactions that are exempt from Section 16 pursuant to Rule 16a-11, and they are being reported voluntarily.

What is Kimberly J. Smith’s relationship to Modiv Industrial (MDV)?

Kimberly J. Smith is reported as a director of Modiv Industrial, Inc. in the filing.

Were any derivative securities reported for Kimberly J. Smith in this Modiv Industrial (MDV) filing?

No. The filing lists only non-derivative Class C common stock; the table for derivative securities shows no entries.

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Accepted by SEC EDGAR 12/15/2025 - 08:49 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^*

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)
12/15/2025

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	12/15/2025		J(1)		111.5917	A	$13.91	16,035.7003	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 Kimberly J. Smith	12/15/2025
	** 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.