Form 4: SMITH KIMBERLY J reports multiple insider transactions in MDV

Rhea-AI Filing Summary

SMITH KIMBERLY J reported multiple insider transaction types in a Form 4 filing for MDV. The filing lists transactions totaling 121 shares at a weighted average price of $14.24 per share. Following the reported transactions, holdings were 17,320 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SMITH KIMBERLY J

Role Director

Type	Security	Shares	Price	Value
Other	COMMON STOCK, CLASS C	120.774	$14.24	$2K

Holdings After Transaction: COMMON STOCK, CLASS C — 17,320.41 shares (Direct)

Footnotes (1)

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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 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)
02/13/2026

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	02/13/2026		J(1)		120.7739	A	$14.24	17,320.4103	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	02/17/2026
	** 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.

FAQ

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

Kimberly J. Smith reported acquiring 120.7739 shares of Modiv Industrial Class C common stock. The shares were obtained on 02/13/2026 through a dividend reinvestment transaction, rather than an open-market trade, and are disclosed on a voluntarily filed Form 4.

At what price were Kimberly J. Smith’s MDV dividend reinvestment shares recorded?

The dividend reinvestment transaction for Modiv Industrial shares was recorded at $14.24 per share. This reflects the price used to convert her cash dividend into 120.7739 additional Class C common shares as disclosed in the Form 4 filing.

How many MDV shares does Kimberly J. Smith own after the reported transaction?

After the dividend reinvestment, Kimberly J. Smith directly owns 17,320.4103 shares of Modiv Industrial Class C common stock. This figure represents her updated direct beneficial ownership following the 120.7739-share increase on 02/13/2026.

Was Kimberly J. Smith’s MDV Form 4 filing mandatory or voluntary?

The Form 4 filing was voluntary for this Modiv Industrial transaction. The shares were acquired via dividend reinvestment transactions that are exempt from Section 16 under Rule 16a-11, and the filing explicitly states they are being reported voluntarily.

What is the nature of the MDV transaction code J reported by Kimberly J. Smith?

The transaction is labeled with code J, described in the filing as a dividend reinvestment acquisition. It reflects shares received through reinvestment of dividends, not a standard open-market purchase or sale of Modiv Industrial Class C common stock.

Does Kimberly J. Smith hold her MDV shares directly or through another entity?

The Form 4 shows Kimberly J. Smith’s 17,320.4103 Modiv Industrial Class C shares as directly held. The ownership code is listed as “D” for direct, and no indirect ownership entity or special ownership structure is indicated in the disclosure.