REXR Files 4 with SEC
Rhea-AI Filing Summary
Rexford Industrial Realty, Inc. disclosed that its Chief Financial Officer, Michael Fitzmaurice, received an award of 19,431 LTIP Units on December 19, 2025 under the company’s 2013 Incentive Award Plan. These LTIP Units are a class of limited partnership units in Rexford Industrial Realty, L.P. that can, after meeting certain conditions, reach parity with operating partnership units and then be converted into an equal number of OP Units, which are redeemable for either cash or an equivalent number of common shares at the company’s election.
The LTIP Units will vest in three equal installments on December 19 of 2026, 2027 and 2028, with potential earlier vesting upon certain employment termination events described in the award agreement. After this transaction, the reporting officer also beneficially owns 11,483 shares of Rexford Industrial Realty, Inc. common stock.
Positive
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 19,431 | $0.00 | -- |
Footnotes (1)
- LTIP Units are a class of limited partnership units in Rexford Industrial Realty, L.P. (the "Operating Partnership"). Initially, the LTIP Units do not have full parity with common limited partnership units of the Operating Partnership ("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. OP Units are redeemable by the holder for an equivalent number of shares of the Issuer's common stock or for the cash value of such shares, at the Issuer's election. (Continued from Footnote 1) The LTIP Units, issued pursuant to the Third Amended and Restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan, will vest 1/3 in equal installments on December 19 of 2026, 2027 and 2028, subject to earlier vesting upon certain terminations of the Reporting Person's employment, as described in the award agreement. The Reporting Person also owns 11,483 shares of the Issuer's common stock.