Form 4: Plymouth Industrial REIT Director Philip S. Cottone Receives Restricted Stock Grant

Plymouth Industrial REIT, Inc. Director Philip S. Cottone was granted 6,269 shares of common stock as restricted stock, increasing his total beneficial ownership to 30,278 shares.

Summary

• Philip S. Cottone, a Director of Plymouth Industrial REIT, Inc. (PLYM), was granted 6,269 shares of common stock.
• The transaction occurred on June 20, 2025.
• These shares were granted as restricted stock under the company's Third Amended and Restated 2014 Incentive Award Plan.
• The 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, Mr. Cottone's total beneficial ownership in Plymouth Industrial REIT, Inc. stands at 30,278 shares of common stock.
• The grant price for these shares was $0, indicating they were awarded as compensation rather than purchased.

Sentiment

Score: 6

Explanation: Slightly positive. The grant of restricted stock to a director aligns their interests with shareholders, which is generally viewed favorably. It's a routine compensation event, not indicative of major news.

Positives

• The grant of restricted stock to a director aligns the director's interests with those of the shareholders, as the value of the compensation is tied to the company's stock performance.
• The transaction demonstrates the company's use of its 2014 Incentive Award Plan to compensate and incentivize its directors.

Future Outlook

The granted restricted shares 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.

Industry Context

Restricted stock grants are a common form of equity compensation for directors and executives in publicly traded companies, including Real Estate Investment Trusts (REITs) like Plymouth Industrial REIT. This practice aims to align the interests of company leadership with long-term shareholder value creation.

Comparison to Industry Standards

• Restricted stock grants are a standard component of director compensation packages across various industries, including the REIT sector.
• The specific size of the grant (6,269 shares) and the vesting schedule (one year or next annual meeting) are typical for non-employee director equity awards, designed to retain directors and incentivize long-term performance.
• Comparable companies in the industrial REIT sector, such as Prologis (PLD), Duke Realty (DRE, now part of Prologis), or Rexford Industrial Realty (REXR), commonly utilize similar equity-based compensation plans for their directors to foster alignment and retention.

Corporate Governance

Related Party Transactions

• The grant of 6,269 shares of restricted stock to Philip S. Cottone, a director, constitutes a related party transaction as it involves compensation from the company to a member of its board.

Stakeholder Impact

• Shareholders: The grant represents a form of equity dilution, though typically minor for individual grants. It also aims to align the director's long-term interests with shareholder value.
• Director (Philip S. Cottone): Receives equity compensation, which incentivizes performance and retention.

Next Steps

• The granted restricted shares will vest on the earlier of June 20, 2026, or the date of the next annual meeting of stockholders.

Key Dates

Keywords

Plymouth Industrial REIT, PLYM, Form 4, Insider Transaction, Stock Grant, Restricted Stock, Director Compensation, Equity Award, SEC Filing, Corporate Governance