Form 4: Plymouth Industrial REIT Director David Gaw Receives Restricted Stock Grant

Plymouth Industrial REIT, Inc. Director David Gaw was granted 6,269 shares of restricted common stock on June 20, 2025, as part of the company's incentive award plan.

Summary

• David Gaw, a Director of Plymouth Industrial REIT, Inc. (PLYM), acquired 6,269 shares of common stock.
• The transaction occurred on June 20, 2025.
• These shares were granted as restricted stock under the Plymouth Industrial REIT, Inc. Third Amended and Restated 2014 Incentive Award Plan.
• The restricted shares vest on the earlier of the first anniversary of the grant date or the date of the annual meeting of stockholders immediately following the grant date.
• Following this transaction, David Gaw beneficially owns 30,751 shares of common stock.
• The shares were acquired at a price of $0, indicating a grant rather than a purchase.

Sentiment

Score: 7

Explanation: The grant of restricted stock to a director is a positive for aligning management incentives with shareholder interests, though it's a routine compensation event and not indicative of significant new company performance or strategy.

Positives

• The grant of restricted stock aligns the interests of Director David Gaw with those of shareholders, incentivizing long-term performance.
• The transaction is part of an established incentive award plan, indicating a structured approach to executive compensation.

Negatives

• The grant of restricted stock at $0 dilutes existing shareholder value, albeit minimally for this size of grant.

Future Outlook

The restricted stock granted to David Gaw will vest on the earlier of the first anniversary of the grant date (June 20, 2026) or the date of the annual meeting of stockholders immediately following the grant date.

Management Comments

• "/s/ Anne A. Hayward, as attorney-in-fact for David Gaw" (Signature indicating the filing was made on behalf of David Gaw).
• "The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, is not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the Exchange Act." (From the Power of Attorney).

Industry Context

The granting of restricted stock to directors is a common practice in the REIT (Real Estate Investment Trust) sector, as well as across publicly traded companies, to align management and director interests with long-term shareholder value. This specific transaction reflects standard corporate governance and compensation practices within the industry.

Comparison to Industry Standards

• The grant of restricted stock to a director is a standard form of equity compensation, widely used across various industries, including REITs, to incentivize long-term performance and align interests. Specific comparable companies or projects are not detailed in this filing, as it focuses on an individual's compensation event rather than a company-wide performance metric.

Corporate Governance

Related Party Transactions

• The grant of restricted stock to David Gaw, a Director, constitutes a related party transaction.

Stakeholder Impact

• Shareholders: Minimal dilution from the issuance of new shares, but improved alignment of director interests with long-term shareholder value.

Next Steps

• The restricted stock granted to David Gaw will vest on the earlier of June 20, 2026, or the date of the annual meeting of stockholders immediately following the grant date.

Key Dates

Keywords

Plymouth Industrial REIT, PLYM, David Gaw, Restricted Stock, Stock Grant, SEC Form 4, Insider Transaction, Director Compensation, Equity Compensation, REIT