Form 4: Plymouth Industrial REIT Director Richard DeAgazio Receives Restricted Stock Grant

Plymouth Industrial REIT, Inc. Director Richard J. DeAgazio was granted 6,269 shares of restricted common stock, increasing his beneficial ownership to 43,270 shares.

Summary

• Richard J. DeAgazio, a Director of Plymouth Industrial REIT, Inc. (PLYM), was granted 6,269 shares of common stock on June 20, 2025.
• The shares are restricted stock, granted under the company's Third Amended and Restated 2014 Incentive Award Plan.
• These 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.
• Following this transaction, Mr. DeAgazio's total beneficial ownership of Plymouth Industrial REIT common stock is 43,270 shares.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 6

Explanation: The grant of restricted stock to a director is a neutral to slightly positive event, as it aligns interests and is a standard compensation practice, indicating stable corporate governance. It does not, however, provide significant new financial performance data.

Positives

• The grant of restricted stock to a director aligns the director's interests with those of the shareholders, as the value of the shares is tied to the company's performance.
• This is a standard form of executive and director compensation, indicating a structured incentive program is in place to attract and retain qualified board members.

Future Outlook

The restricted stock granted to Director Richard J. DeAgazio is set to vest on the earlier of June 20, 2026, or the date of the annual meeting of stockholders immediately following the grant date, indicating a future milestone for the compensation.

Industry Context

The granting of restricted stock to directors is a common practice within the Real Estate Investment Trust (REIT) sector and broader corporate landscape. It serves to align the interests of board members with long-term shareholder value creation, a standard governance practice.

Comparison to Industry Standards

• The grant of restricted stock to directors is a widely accepted compensation practice across various industries, including REITs, aligning director incentives with company performance.
• Many publicly traded companies, such as Prologis (PLD) or Duke Realty (DRE, now part of Prologis), utilize similar equity-based compensation plans for their non-employee directors, often involving restricted stock units (RSUs) or restricted stock.
• The vesting schedule, tied to either a one-year anniversary or the next annual meeting, is also a common structure designed to ensure continued service and commitment from board members.

Corporate Governance

Related Party Transactions

• The grant of restricted stock to Richard J. DeAgazio, a Director of Plymouth Industrial REIT, Inc., constitutes a related party transaction as it involves compensation from the company to a member of its board.

Stakeholder Impact

• Shareholders: The grant aligns the director's interests with shareholders, potentially encouraging long-term value creation. It represents a form of non-cash compensation that dilutes existing shares slightly upon vesting, but is a standard cost of governance.
• Employees: No direct impact on employees is indicated, though the incentive plan itself may apply more broadly.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated.

Next Steps

• Vesting of the 6,269 restricted shares 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, Richard J. DeAgazio, Restricted Stock, Stock Grant, Director Compensation, SEC Form 4, Insider Transaction, Equity Incentive Plan, Real Estate Investment Trust, REIT