REXR Form 4: Howard Schwimmer receives large restricted stock award
Rhea-AI Filing Summary
Rexford Industrial Realty, Inc. (REXR) disclosed a large equity grant to a senior executive. Co-CEO and Co-President Howard Schwimmer reported receiving 560,406 shares of restricted common stock on 11/17/2025 at a price of $0 per share, increasing his directly held common stock to 610,619 shares.
The restricted shares were issued under the company’s 2013 Incentive Award Plan and will vest only if several conditions are met. Vesting requires Mr. Schwimmer’s continued service with Rexford through March 31, 2026 (or earlier if the company terminates his employment without cause), compliance with a Transition and Separation Agreement entered into on November 17, 2025, and execution and non-revocation of a defined Supplemental Release. The filing also notes indirect holdings through family trusts and various partnership units, for which beneficial ownership is disclaimed except for his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock, par value $0.01 | 560,406 | $0.00 | -- |
| holding | Common Stock, par value $0.01 | -- | -- | -- |
Footnotes (1)
- Represents shares of restricted common stock issued to the Reporting Person as pursuant to the Third Amended and Restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan. Vesting of these shares is subject to (i) continued service of the Reporting Person with the Issuer through March 31, 2026 (or, if earlier, through the date the Issuer terminates the employment of the Reporting Person without cause), (ii) compliance by the Reporting Person with the terms of the Transition and Separation Agreement entered into on November 17, 2025 between the Issuer and the Reporting Person, and (iii) execution and non-revocation of the Supplemental Release (as defined in the Transition and Separation Agreement). These shares will vest on the date on which the Supplemental Release becomes effective. The Reporting Person also owns the following derivative securities: (i) 119,320 common units of limited partnership interest ("OP Units") in the Issuer's operating partnership subsidiary, Rexford Industrial Realty, L.P. (the "Operating Partnership"), of which 935 OP Units are held by the Schwimmer Living Trust dated December 14, 2001 (the "Living Trust") of which the Reporting Person is a trustee, and of which 42,002 OP Units are held by the Schwimmer Family Irrevocable Trust (the "Family Trust") of which the Reporting Person is a trustee, (ii) 751,019 LTIP Units, a class of limited partnership units in the Operating Partnership, and (iii) 577,616 Performance Units, a class of limited partnership units in the Operating Partnership. The Reporting Person disclaims beneficial ownership of the OP Units held by the Living Trust and the Family Trust, except to the extent of his pecuniary interest therein. Represents shares of common stock held by the Family Trust, for which the Reporting Person is a trustee. The Reporting Person disclaims beneficial ownership of such common stock, except to the extent of his pecuniary interest therein.
FAQ
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