Director Caitlin Murphy exits Plymouth Industrial REIT (PLYM) in $22-per-share cash merger

Rhea-AI Filing Summary

Plymouth Industrial REIT director Caitlin Murphy reported the disposition of 15,489 shares of common stock on January 27, 2026. The shares were cashed out at $22.00 per share under a previously signed Agreement and Plan of Merger involving Plymouth Industrial REIT, Plymouth Industrial OP, LP, PIR Ventures LP, PIR Industrial REIT LLC, and PIR Industrial OP LLC.

At the effective time of the merger of Plymouth Industrial REIT with and into PIR Industrial REIT LLC, each share Murphy held was converted into the right to receive the $22.00 cash merger consideration, before any applicable withholding taxes. Following this transaction, the filing shows Murphy holding zero Plymouth Industrial REIT shares directly.

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

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X

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^*

Murphy Caitlin

(Last) (First) (Middle)

20 CUSTOM HOUSE STREET, 11TH FLOOR

(Street)

BOSTON MA 02110

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Plymouth Industrial REIT, Inc. [ PLYM ]

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)
01/27/2026

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	01/27/2026		D		15,489	D	$22(1)	0	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. Represents shares of the Issuer's common stock, par value $0.01 per share (collectively, the "Shares"), disposed of in connection with the Agreement and Plan of Merger, dated as of October 24, 2025 (the "Merger Agreement"), by and among the Issuer, Plymouth Industrial OP, LP, PIR Ventures LP, PIR Industrial REIT LLC ("REIT Merger Sub"), and PIR Industrial OP LLC. In accordance with the Merger Agreement, at the effective time of the merger of the Issuer with and into REIT Merger Sub (the "REIT Merger"), each Share held by the reporting person was converted into the right to receive an amount in cash equal to $22.00 (the "Merger Consideration"), without interest and subject to any required withholding taxes.

	/s/ Anthony Saladino, as attorney-in-fact for Caitlyn Murphy	01/28/2026
	** 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 PLYM director Caitlin Murphy report?

Caitlin Murphy reported disposing of 15,489 Plymouth Industrial REIT common shares. The shares were converted into cash as part of a merger, rather than an open-market sale, and she held zero shares directly after the transaction.

What price per share did Caitlin Murphy receive for Plymouth Industrial REIT (PLYM) stock?

Murphy’s Plymouth Industrial REIT shares were converted into the right to receive $22.00 per share in cash. This amount was defined as the merger consideration in the Agreement and Plan of Merger governing the REIT’s acquisition.

Was Caitlin Murphy’s PLYM share disposal due to a merger or open-market sale?

The disposal was due to a merger, not an open-market sale. Her 15,489 Plymouth Industrial REIT shares were converted into a $22.00 per share cash payment at the effective time of the REIT Merger.

How many Plymouth Industrial REIT (PLYM) shares did Caitlin Murphy own after the merger transaction?

After the merger-related transaction, the Form 4 reports that Caitlin Murphy directly owned zero Plymouth Industrial REIT common shares. All 15,489 reported shares were converted into the cash merger consideration at $22.00 per share.

What merger agreement affected Caitlin Murphy’s PLYM shares?

Her shares were affected by the Agreement and Plan of Merger dated October 24, 2025. This agreement covered a merger of Plymouth Industrial REIT with PIR Industrial REIT LLC and related entities, triggering the $22.00 per share cash conversion.

What role does Caitlin Murphy hold at Plymouth Industrial REIT (PLYM)?

Caitlin Murphy is identified as a director of Plymouth Industrial REIT. Her Form 4 filing reports how her director-held common shares were converted into cash at $22.00 per share when the merger became effective.