Rexford Industrial GC sells 33,299 common shares
Rexford Industrial Realty, Inc. General Counsel & Secretary David E. Lanzer converted partnership units into common stock and then sold the resulting shares.
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Form Type
4
Rhea-AI Filing Summary
Rexford Industrial Realty, Inc. General Counsel & Secretary David E. Lanzer converted partnership units into common stock and then sold the resulting shares. On April 24, 2026, he converted a total of 99,897 units (including 30,998 Performance Units and 2,301 LTIP Units) into Operating Partnership Units and then into 33,299 shares of common stock. On April 28, 2026, he completed an open-market sale of those 33,299 common shares at a weighted average price of $35.4735 per share, leaving him with 0 common shares held directly after the reported transactions.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
7 txns
Insider
Lanzer David E.
Role
General Counsel & Secretary
Sold
33,299 shs ($1.18M)
Approx. gross sale proceeds
$1.18M
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, par value $0.01 | 33,299 | $35.4735 | $1.18M |
| Exercise | Performance Units | 30,998 | $0.00 | $0.00 |
| Exercise | Operating Partnership Units | 30,998 | $0.00 | $0.00 |
| Exercise | LTIP Units | 2,301 | $0.00 | $0.00 |
| Exercise | Operating Partnership Units | 2,301 | $0.00 | $0.00 |
| Conversion | Operating Partnership Units | 33,299 | $0.00 | $0.00 |
| Conversion | Common Stock, par value $0.01 | 33,299 | $0.00 | $0.00 |
Holdings After Transaction:
Performance Units — 0 contracts (Direct);
LTIP Units — 62,944 contracts (Direct);
Operating Partnership Units — 0 contracts (Direct);
Common Stock, par value $0.01 — 0 shares (Direct)
Footnotes (8)
- F1. Represents common units of limited partnership interest ("OP Units") of Rexford Industrial Realty, L.P. (the "Operating Partnership") tendered by the Reporting Person for redemption and exchange into common stock of the Issuer in accordance with the terms of the Limited Partnership Agreement of the Operating Partnership.
- F2. This transaction was executed in multiple trades at prices ranging from $35.40 to $35.84. The price reported above reflects the weighted average sale price. Full information regarding the number of shares sold at each price shall be provided upon request to the Staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
- F3. Represents Performance Units, a class of limited partnership units in the Operating Partnership, granted pursuant to the Issuer's incentive compensation plan. Initially, the Performance Units do not have full parity with OP Units with respect to liquidating distributions. However, upon the occurrence of certain events described in the Operating Partnership's partnership agreement, the Performance Units can over time achieve full parity with the OP Units for all purposes. If such parity is reached, vested Performance Units may be converted into an equal number of OP Units on a one for one basis at any time at the request of the Reporting Person or the general partner of the Operating Partnership. The 30,998 Performance Units referred to herein have vested and reached such parity.
- F4. Reflects the conversion of 30,998 vested Performance Units into 30,998 OP Units.
- F5. n/a
- F6. Represents OP Units in the Operating Partnership. The Issuer is the general partner of the Operating Partnership. OP Units are redeemable for cash equal to the then-current market value of one share of common stock, or at the election of the Issuer, for shares of the Issuer's common stock on a one for-one basis.
- F7. Represents LTIP Units, a class of limited partnership units in the Operating Partnership, granted pursuant to the Issuer's incentive compensation plan. Initially, the LTIP Units do not have full parity with OP Units with respect to liquidating distributions. However, upon the occurrence of certain events described in the Operating Partnership's partnership agreement, the LTIP Units can over time achieve full parity with the OP Units for all purposes. If such parity is reached, vested LTIP Units may be converted into an equal number of OP Units on a one for one basis at any time at the request of the Reporting Person or the general partner of the Operating Partnership. The 2,301 LTIP Units referred to herein have vested and reached such parity.
- F8. Reflects the conversion of 2,301 vested LTIP Units into 2,301 OP Units.
Key Figures
Shares sold: 33,299 shares
Weighted average sale price: $35.4735 per share
Sale price range: $35.40–$35.84
+5 more
8 metrics
Shares sold
33,299 shares
Open-market sale on April 28, 2026
Weighted average sale price
$35.4735 per share
Sale of 33,299 common shares
Sale price range
$35.40–$35.84
Prices of multiple trades in April 28, 2026 sale
Units exercised/converted
99,897 units
Total derivative units exercised/converted on April 24, 2026
Performance Units converted
30,998 units
Vested Performance Units reaching parity, converted to OP Units
LTIP Units converted
2,301 units
Vested LTIP Units reaching parity, converted to OP Units
Net buy/sell shares
-33,299 shares
Net share change across reported transactions
Common shares after transaction
0 shares
Directly held Rexford Industrial common stock post-transaction
Key Terms
Operating Partnership Units, LTIP Units, Performance Units, weighted average sale price, +2 more
6 terms
Operating Partnership Units financial
"Represents OP Units in the Operating Partnership. The Issuer is the general partner"
Operating partnership units are ownership stakes in a limited partnership that typically sits under a real estate investment trust or similar corporate structure; each unit represents a claim on the partnership’s cash flow and assets and is often convertible into the parent company’s common shares. For investors, these units matter because they convey economic interest and potential voting influence, can be used to compensate managers, and may dilute or change the value of common shares — think of them as second-layer shares that interact with the main stock like shares in a holding company.
LTIP Units financial
"Represents LTIP Units, a class of limited partnership units in the Operating Partnership"
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
Performance Units financial
"Represents Performance Units, a class of limited partnership units in the Operating Partnership"
Performance units are company awards that become valuable only if specified business targets are met; they typically convert into shares or cash when performance goals are achieved. Think of them like a conditional bonus that turns into stock only if the company hits agreed milestones, so they align managers’ incentives with shareholders’ interests and can affect future share count, executive pay expense, and investor returns.
weighted average sale price financial
"The price reported above reflects the weighted average sale price"
incentive compensation plan financial
"granted pursuant to the Issuer's incentive compensation plan"
An incentive compensation plan is a formal program that rewards employees and executives with bonuses, stock, or other payments tied to specific performance goals—such as revenue, profit, productivity, or long‑term share price. Investors watch these plans because they shape how leaders make decisions and take risks; like paying a coach by wins rather than effort, well‑designed plans can drive sustainable growth while poor designs can encourage short‑term behaviors that harm shareholder value.
redeemable for cash financial
"OP Units are redeemable for cash equal to the then-current market value"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did REXR’s David E. Lanzer report on this Form 4?
David E. Lanzer reported converting partnership-based units into common stock and then selling those shares. He first converted 99,897 units into 33,299 Rexford Industrial common shares, then sold all 33,299 shares in an open-market transaction disclosed in this Form 4 filing.
What units did David E. Lanzer convert into REXR common stock before selling?
He converted Operating Partnership Units, LTIP Units, and Performance Units into Rexford Industrial common stock. Specifically, 30,998 vested Performance Units and 2,301 vested LTIP Units that had reached parity with OP Units were converted, ultimately yielding 33,299 common shares for the reported sale.
Does David E. Lanzer hold any Rexford Industrial (REXR) common stock after these transactions?
Following the reported sale, David E. Lanzer’s directly held Rexford Industrial common stock position is shown as zero shares. The Form 4 indicates a total of 0.0000 common shares owned directly after the open-market disposition of 33,299 shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
