Plymouth REIT EVP cashes out 120,236 shares at $22

Plymouth Industrial REIT executive James Connolly reported the cash-out of his common stock holdings in connection with a completed merger.

Rhea-AI Filing Summary

Plymouth Industrial REIT executive James Connolly reported the cash-out of his common stock holdings in connection with a completed merger. On January 27, 2026, he disposed of 120,236 shares of common stock, each converted under the merger terms into the right to receive $22.00 in cash per share, before any applicable withholding taxes. Following this transaction, he reported owning 0 shares of Plymouth Industrial REIT common stock.

The transaction occurred automatically under an Agreement and Plan of Merger involving Plymouth Industrial REIT, its operating partnership, and affiliated acquisition entities, where the REIT merged into a subsidiary and all of Connolly’s shares were converted into the cash merger consideration.

Insider Trade Summary

Disposition: 120,236 shares

Disposition 1 txn

Insider Connolly James

Role EVP/Asset Management

Type	Security	Shares	Price	Value
Disposition	Common Stock	120,236	$22.00	$2.65M

Holdings After Transaction: Common Stock — 0 shares (Direct)

Footnotes (1)

1. F1. Represents shares of the Issuer's common stock, par value $0.01 per share (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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did PLYM executive James Connolly report?

James Connolly reported disposing of 120,236 shares of Plymouth Industrial REIT common stock. The shares were converted into the right to receive $22.00 in cash per share as part of a merger transaction, leaving him with 0 shares afterward.

At what price were James Connollys PLYM shares converted in the merger?

Each share was converted into the right to receive $22.00 in cash. This consideration was set under the merger agreement and is payable without interest but subject to any required withholding taxes at completion of the REIT merger.

How many Plymouth Industrial REIT (PLYM) shares did Connolly hold after the merger?

After the merger-related transaction, James Connolly reported owning 0 shares of Plymouth Industrial REIT common stock. All 120,236 previously held shares were converted into the cash merger consideration under the Agreement and Plan of Merger.

What triggered James Connollys Form 4 filing for Plymouth Industrial REIT?

The filing was triggered by the completion of a merger in which Plymouth Industrial REIT merged into an acquisition subsidiary. Under the merger agreement, Connollys 120,236 shares were automatically converted into cash at $22.00 per share.

Was James Connollys PLYM share disposal a market sale?

The disposal was not a market sale. Connollys 120,236 shares were automatically converted into cash at $22.00 per share pursuant to a previously signed merger agreement, rather than sold through open-market or discretionary transactions.

What is James Connollys role at Plymouth Industrial REIT (PLYM)?

James Connolly is reported as an officer of Plymouth Industrial REIT with the title EVP/Asset Management. His Form 4 reflects his position and the disposition of his shares due to the consummation of the REIT merger transaction.

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Accepted by SEC EDGAR 01/28/2026 - 10:21 AM 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

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^*

Connolly James

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP/Asset Management

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		120,236	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 (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 James Connolly	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.
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