Form 4: REXR Co-CEO Schwimmer Disposes 2,450 OP Units

Rexford Industrial Realty, Inc. Co-CEO Howard Schwimmer reported the disposition of 2,450 Operating Partnership Units under a Rule 10b5-1 plan.

Summary

• Howard Schwimmer, Co-CEO, Co-President, and Director of Rexford Industrial Realty, Inc. (REXR), reported a change in beneficial ownership.
• On November 10, 2025, Schwimmer disposed of 2,450 Operating Partnership Units (OP Units).
• The transaction was executed under a Rule 10b5-1 pre-arranged trading plan.
• OP Units are redeemable for cash or exchangeable for REXR common stock on a one-for-one basis.
• Following this transaction, Schwimmer directly owns 76,383 OP Units and indirectly owns 42,937 OP Units through trusts.
• Schwimmer also holds 751,019 LTIP Units, 577,616 Performance Units, and 63,788 shares of common stock, including 13,575 shares indirectly held by the Family Trust.

Sentiment

Score: 5

Explanation: Neutral. This is a routine disclosure of an insider transaction, specifically a disposition of a relatively small number of derivative units under a pre-arranged 10b5-1 plan. It does not inherently signal strong positive or negative sentiment about the company's future, as it is a planned event rather than a discretionary sale based on new information.

Positives

• The disposition was made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan, indicating a pre-scheduled, non-discretionary trade that can mitigate concerns about insider trading based on material non-public information.

Negatives

• The disposition of securities by a key insider, even if pre-planned, can sometimes be perceived negatively by the market, although the amount is relatively small compared to total holdings.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Howard Schwimmer is a trustee for the Schwimmer Living Trust and the Schwimmer Family Irrevocable Trust, which indirectly hold 42,937 OP Units and 13,575 shares of common stock. He disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

Stakeholder Impact

• Shareholders: The disposition of a relatively small number of units by a key executive under a 10b5-1 plan is unlikely to have a significant direct impact on shareholders, though some might view any insider selling cautiously.

Key Dates

Recommendation

This Form 4 filing reports a routine, pre-scheduled disposition of a small portion of derivative securities by a key executive. It does not provide new fundamental information about the company's operations, financial health, or strategic direction that would warrant a change in investment recommendation. The transaction being under a Rule 10b5-1 plan suggests it is not based on new, material non-public information. Therefore, a 'hold' recommendation is appropriate as existing investment theses remain unchanged based solely on this filing.

Keywords

Rexford Industrial Realty, REXR, Howard Schwimmer, Form 4, Insider Transaction, Beneficial Ownership, Operating Partnership Units, OP Units, Rule 10b5-1, Director, Co-CEO, Co-President