Form 4: Adam Portnoy, Director at Industrial Logistics Properties Trust, Reports Changes in Beneficial Ownership

Adam Portnoy, a director at Industrial Logistics Properties Trust, reported a transaction involving the withholding of shares to cover tax liabilities.

Summary

• On September 17, 2024, Adam Portnoy, a director of Industrial Logistics Properties Trust (ILPT), reported a transaction on Form 4.
• The transaction involved the withholding of 2,194 common shares of beneficial interest at a price of $5.07 per share to cover tax liabilities related to the vesting of a security.
• Following the transaction, Mr. Portnoy directly owns 136,418 shares and indirectly owns 745,672 shares through ABP Trust, where he serves as the sole trustee, officer, and controlling shareholder.
• Mr. Portnoy disclaims beneficial ownership of the shares held by ABP Trust except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing regarding a routine transaction, so the sentiment is neutral.

Management Comments

• Mr. Portnoy disclaims beneficial ownership of the shares held by ABP Trust except to the extent of his pecuniary interest therein.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is a common occurrence in publicly traded companies.

Stakeholder Impact

• The transaction has a minimal impact on stakeholders as it is a routine adjustment of share ownership related to tax obligations.

Key Dates