Plymouth Industrial REIT (PLYM) director fully cashed out at $22

Rhea-AI Filing Summary

Plymouth Industrial REIT director Pendleton P. White Jr. has reported the cash-out of his holdings in connection with a merger. On January 27, 2026, a total of common stock positions held directly and through a father's estate and a trust were disposed of at $22.00 per share under a previously signed Merger Agreement.

At the effective time of the merger of Plymouth Industrial REIT, Inc. with PIR Industrial REIT LLC, each share of common stock held by the reporting person was converted into the right to receive $22.00 in cash, without interest and subject to applicable withholding taxes, leaving him with 0 shares beneficially owned.

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^*

WHITE PENDLETON P. JR.

(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		4,000	D	$22(1)	0	I	By father's estate
Common Stock	01/27/2026		D		5,000	D	$22(1)	0	I	By trust
Common Stock	01/27/2026		D		117,735	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 Pendleton P. White, Jr.	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 Pendleton P. White Jr. report?

Pendleton P. White Jr., a director of Plymouth Industrial REIT (PLYM), reported disposing of all his common stock holdings on January 27, 2026. The shares were converted to cash at $22.00 per share in connection with a previously agreed merger transaction.

At what price were Plymouth Industrial REIT (PLYM) shares converted in the merger?

Each share of Plymouth Industrial REIT (PLYM) common stock held by the reporting person was converted into the right to receive $22.00 in cash. This merger consideration was paid without interest and was subject to any required withholding taxes under the merger agreement.

How many PLYM shares did Pendleton P. White Jr. hold after the merger transaction?

Following the January 27, 2026 merger-related transactions, Pendleton P. White Jr. beneficially owned 0 shares of Plymouth Industrial REIT (PLYM) common stock. All previously reported direct and indirect holdings were converted into the right to receive the $22.00 per share cash consideration.

Were any of Pendleton P. White Jr.’s PLYM shares held indirectly?

Yes. Part of Pendleton P. White Jr.’s Plymouth Industrial REIT (PLYM) holdings were reported as indirectly owned through a father’s estate and a trust. These indirect positions were also disposed of at $22.00 per share in connection with the merger transaction.

What agreement governed the $22.00 cash-out of PLYM shares?

The $22.00 per share cash-out of Plymouth Industrial REIT (PLYM) common stock was governed by an Agreement and Plan of Merger dated October 24, 2025. This merger agreement set the terms under which each share was converted into the cash merger consideration.

Which entities were involved in the Plymouth Industrial REIT (PLYM) merger?

The merger involved Plymouth Industrial REIT, Inc., Plymouth Industrial OP, LP, PIR Ventures LP, PIR Industrial REIT LLC (the REIT Merger Sub), and PIR Industrial OP LLC. The reporting person’s shares were converted to $22.00 cash per share when the REIT merged into REIT Merger Sub.