secwatch.observer — SEC 8-K summary
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Issuer:     MODIV INDUSTRIAL, INC. (MDV)
CIK:        0001645873
Form:       8-K
Filed at:   2025-02-04T23:59:59+00:00
Accession:  0001140361-25-003004
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Modiv grants 774K Class X units to execs; CEO takes minimum wage salary
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- CEO Halfacre received 546,542.50 Class X units; vest on 5th anniversary; no additional equity, bonus, only min wage salary.
- CFO Pacini received 65,000 Class X units; vest on 2nd anniversary.
- COO Raney received 162,500 Class X units; vest on 5th anniversary.
- CEO base salary set at minimum wage, not to exceed $56,485, effective by April 1, 2025.
- Class X units are profits interest in OP; automatically convert to Class C units upon vesting and appreciation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1645873/000114036125003004/0001140361-25-003004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1645873/000114036125003004/ef20042823_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-003004

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer