Form 4: Rexford Industrial Realty Director Richard S. Ziman Reports Acquisition of Restricted Stock and Ownership of Operating Partnership Units
SEC Form 4 Filing
Director Richard S. Ziman reports acquisition of 3,357 shares of restricted common stock and indirect ownership of operating partnership units in Rexford Industrial Realty, Inc.
Summary
- Richard S. Ziman, a director of Rexford Industrial Realty, Inc., reported changes in beneficial ownership.
- On June 11, 2024, Ziman acquired 3,357 shares of restricted common stock at $0.
- These shares vest on the earlier of the next annual meeting or June 11, 2025, contingent upon continued service.
- Ziman also indirectly owns 17,405 shares of common stock through the RSZ Trust and his spouse.
- Additionally, he indirectly owns 220,413 Operating Partnership Units (OP Units) through the RSZ Trust and his spouse, which are redeemable for cash or common stock on a one-for-one basis.
- Ziman disclaims beneficial ownership of the shares and OP Units held by the RSZ Trust and his spouse, except to the extent of his pecuniary interest.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects standard insider transactions and alignment of interests. There are no indications of negative events or concerns.
Positives
- The acquisition of restricted stock aligns the director's interests with the company's performance.
- The vesting schedule incentivizes continued service and commitment to Rexford Industrial Realty, Inc.
Future Outlook
The restricted stock will vest on the earlier of the next annual meeting or June 11, 2025, subject to the Reporting Person's continued service.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The acquisition of restricted stock aligns the director's interests with shareholders.
- The vesting schedule incentivizes continued service, potentially benefiting employees and other stakeholders.
Key Dates
| Date | Description |
|---|---|
| 06/11/2024 | Date of transaction: Acquisition of restricted common stock. |
| 06/11/2025 | First anniversary of the grant date for restricted stock, potential vesting date. |
| 06/13/2024 | Date of signature by attorney-in-fact. |
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