Director at Plymouth Industrial REIT (NYSE: PLYM) cashed out 30,278 shares in merger

Rhea-AI Filing Summary

Plymouth Industrial REIT director Philip S. Cottone disposed of 30,278 shares of common stock on January 27, 2026. The transaction reflects completion of a previously agreed merger, not an open-market sale.

Under the merger terms, each share was converted into the right to receive $22.00 in cash, without interest and subject to applicable withholding taxes. Following this cash-out in the merger, Cottone no longer held any shares of Plymouth Industrial REIT 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

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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^*

COTTONE PHILIP S

(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		30,278	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 Philip S. Cottone	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).
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FAQ

What transaction did Plymouth Industrial REIT (PLYM) director Philip S. Cottone report?

Philip S. Cottone reported disposing of 30,278 shares of Plymouth Industrial REIT common stock. The shares were cashed out at $22.00 per share as part of a merger agreement, rather than through a discretionary open-market sale.

On what date were Philip S. Cottone’s PLYM shares disposed of?

The reported disposition occurred on January 27, 2026. This date corresponds to the effective time of the merger when each Plymouth Industrial REIT share was converted into cash consideration of $22.00 per share under the merger agreement terms.

What price did Philip S. Cottone receive per Plymouth Industrial REIT (PLYM) share?

Each of Philip S. Cottone’s Plymouth Industrial REIT shares was converted into the right to receive $22.00 in cash. This fixed merger consideration applied to all reported shares, without interest and subject to any required withholding taxes under applicable law.

How many Plymouth Industrial REIT (PLYM) shares did Philip S. Cottone hold after the merger transaction?

After the merger-related cash-out, Philip S. Cottone beneficially owned zero Plymouth Industrial REIT common shares directly. All 30,278 reported shares were converted into cash at $22.00 per share, leaving no remaining direct share ownership listed on the Form 4.

Was Philip S. Cottone’s PLYM share disposition an open-market sale?

No, the disposition was not an open-market trade. The Form 4 explains that Cottone’s shares were converted into cash at $22.00 per share in connection with a merger, pursuant to a previously executed Agreement and Plan of Merger.

What corporate action triggered the cash-out of Plymouth Industrial REIT (PLYM) shares?

The cash-out was triggered by a merger in which Plymouth Industrial REIT merged with PIR Industrial REIT LLC. Under the merger agreement, at the effective time, each share held by the reporting person converted into the right to receive $22.00 in cash.