Form 4: First City Investment Group Sells Shares and Partnership Units in Modiv Industrial

First City Investment Group, a 10% owner of Modiv Industrial, sold shares and partnership units back to the company for $11.544 million.

Summary

• On August 1, 2024, First City Investment Group, LLC sold 123,809 shares of Class C common stock of Modiv Industrial, Inc. back to the company.
• Additionally, First City Investment Group sold 656,191 units of Class C limited partnership interest of Modiv Operating Partnership, LP back to the company.
• The aggregate purchase price for the shares and partnership units was $11,544,000, or $14.80 per share/unit.
• Following the transaction, First City Investment Group directly owns 530,135 shares of Class C Common Stock.

Sentiment

Score: 5

Explanation: The document describes a transaction (sale of shares and partnership units) without expressing any explicit positive or negative sentiment. It's a factual report of a transaction.

Industry Context

Share repurchases are often used by companies to return capital to shareholders and can be seen as a sign that management believes the company's stock is undervalued. Large shareholders may sell their shares back to the company for a variety of reasons, including portfolio rebalancing or to realize gains.

Stakeholder Impact

• The share repurchase may have a slight positive impact on remaining shareholders by reducing the number of outstanding shares.
• The transaction provides liquidity to First City Investment Group.

Key Dates