Recent 8-K filings for MDV

• August 12, 2026, 4:05 PM ET M&A materiality 1.00 neutral item 1.02item 2.01item 3.01item 3.03item 5.01item 5.02item 5.03item 9.01

  Modiv Industrial completes merger with Global Net Lease; shares converted at 1.975 GNL per share

  Modiv common stock converted at 1.975 GNL shares per share; preferred stock converted to $25 cash plus accrued dividends.

• August 10, 2026, 6:54 PM ET M&A materiality 0.90 positive item 5.07item 7.01item 9.01

  Modiv stockholders approve merger with Global Net Lease; close expected Aug 12, 2026

  Merger proposal passed with 6,363,283 for, 295,685 against, 103,767 abstain.

• May 4, 2026, 7:59 PM ET M&A materiality 0.95 positive item 1.01item 7.01item 9.01 ◈ Material Agreements

  GNL acquires Modiv Industrial for $535M enterprise value in all-stock deal

  Modiv common stockholders receive 1.975 GNL shares/share, valued at ~$18.82 (17% premium to May 1 close).

• March 25, 2026, 7:59 PM ET earnings materiality 0.75 neutral item 2.02item 7.01item 9.01 ◈ Earnings Releases

  Modiv Industrial reports FY 2025 net loss of $2.1M, AFFO up 15% to $17.2M; asset recycling progress

  Q4 2025 net income to common stockholders $0.4M; full year net loss $2.1M ($0.31/diluted share).

• January 20, 2026, 6:59 PM ET dividend materiality 0.75 positive item 1.01item 5.02item 7.01item 8.01item 9.01 ◈ Material Agreements

  Modiv Industrial raises dividend to $1.20/yr; CEO outlines 24-month plan to close value gap

  Monthly dividend increased to $0.10/share ($1.20/yr annualized), up $0.03 from prior rate.

• November 14, 2025, 6:59 PM ET earnings materiality 0.70 positive item 2.02item 7.01item 9.01

  Modiv Industrial Q3 AFFO $0.36 beats consensus $0.34, up 22% YoY

  Revenue $11.7M, net income to common $0.3M; AFFO $4.5M ($0.36/share) vs $3.7M year ago.

• August 7, 2025, 7:59 PM ET earnings materiality 0.70 positive item 2.02item 7.01item 9.01

  Modiv Industrial Q2 2025 AFFO $0.38 beats consensus; revenue $11.8M, net loss $2.8M

  Q2 2025 revenue of $11.8M and net loss attributable to common stockholders of $(2.8)M.

• July 25, 2025, 7:59 PM ET other material materiality 0.60 neutral item 5.07

  Modiv Industrial shareholders reject reverse stock split proposal at annual meeting

  Reverse stock split failed: 4,420,099 votes for (needed >5,054,074 majority of 10,108,147 outstanding shares).

• May 7, 2025, 7:59 PM ET earnings materiality 0.70 positive item 2.02item 7.01item 9.01

  Modiv Industrial Q1 AFFO $0.33 beats consensus, revenue $11.8M, AFFO up 18% YoY

  Q1 revenue $11.8M, net income to common stockholders $2,000; AFFO $3.9M ($0.33/diluted), up 18% YoY, above consensus.

• March 7, 2025, 6:59 PM ET other material materiality 0.65 positive item 7.01item 8.01item 9.01

  Modiv repurchases 7.5% of Series A Preferred at 6% discount; raises 2025 AFFO guidance

  Repurchased 150,000 Series A preferred shares at $23.50/share (6% discount to $25 par) for $3.525M.

• March 4, 2025, 6:59 PM ET earnings materiality 0.70 positive item 2.02item 7.01item 9.01

  Modiv Industrial Q4 AFFO $0.37 beats by 22%; full-year AFFO $1.34; 2025 guidance $1.37

  Q4 2024 net income $0.6M ($0.07 diluted); full-year net income $2.3M ($0.25 diluted).

• February 4, 2025, 6:59 PM ET other material materiality 0.70 neutral item 1.01item 3.02item 5.02item 9.01

  Modiv grants 774K Class X units to execs; CEO takes minimum wage salary

  CEO Halfacre received 546,542.50 Class X units; vest on 5th anniversary; no additional equity, bonus, only min wage salary.

• February 4, 2025, 6:59 PM ET other material materiality 0.60 positive item 7.01item 9.01

  Modiv Industrial NAV per share $24.11 as of Dec 31, 2024, up from $23.93

  NAV per share $24.11 at Dec 31, 2024 vs $23.93 at Jan 31, 2024, a +$0.18 increase.

• November 6, 2024, 6:59 PM ET earnings materiality 0.75 positive item 2.02item 7.01item 9.01

  Modiv Industrial Q3 AFFO $0.34/share, up YoY; raises annual dividend to $1.17

  Q3 AFFO $0.34/share, up $0.01 YoY and $0.01 above consensus.

• October 17, 2024, 7:59 PM ET M&A materiality 0.70 neutral item 7.01item 9.01

  Modiv Industrial abandons nine-figure JV acquisition of 20+ manufacturing properties

  Negotiations ended over time-horizon mismatch on ROFO; purchase price was nine-figure at accretive cap rate.

• August 6, 2024, 7:59 PM ET earnings materiality 0.75 positive item 2.02item 7.01item 9.01

  Modiv Industrial Q2 AFFO up 17.3% to $3.9M; repurchased 780K shares at $14.80; enters LOI for JV stake

  Rental income $11.3M, down $493K due to prior portfolio sale, offset by $834K decrease in property expenses.

• May 2, 2024, 7:59 PM ET other material materiality 0.60 positive item 2.02item 7.01item 9.01 ◈ Earnings Releases

  Modiv Industrial provides updated NAV estimate of $23.33-$23.93 per share as of Jan 31, 2024

  Cushman & Wakefield appraised 42 wholly-owned properties at $569.5M; CBRE at $563.3M (implied cap rates 6.93%/6.81%).

• March 4, 2024, 6:59 PM ET earnings materiality 0.65 neutral item 2.02item 7.01item 9.01 ◈ Earnings Releases ×4

  Modiv Industrial Q4/FY23 earnings: AFFO beats street, portfolio transformation continues

  FY23 revenue $46.9M (+7.1% YoY); AFFO $14.7M ($1.33/diluted share) beats consensus by $0.04.

• January 2, 2024, 6:59 PM ET other material materiality 0.65 neutral item 1.01item 7.01item 8.01item 9.01 ◈ Material Agreements

  Modiv Industrial Declares 0.28-Share GIPR Distribution; Provides Business Update on Sales and Strategic Partner

  Declared stock distribution of 0.28 shares of GIPR common per share of MDV common stock and per Modiv OP Class C Unit, payable on/about Jan 31, 2024.

• November 13, 2023, 6:59 PM ET earnings materiality 0.75 positive item 2.02item 7.01item 9.01 ◈ Earnings Releases

  Modiv Industrial Q3 revenue $12.5M (+21% YoY), AFFO $3.7M (+19% YoY), plans GIPR in-kind dividend

  Revenue $12.5M (up 21% YoY from $10.3M); AFFO $3.7M (up 19% YoY from $3.1M).

• October 17, 2023, 7:59 PM ET other material materiality 0.60 neutral item 7.01item 8.01item 9.01

  Modiv declares $0.09583/month dividend (7.9% yield) and plans in-kind distribution of GIPR shares

  Regular monthly cash dividend of $0.09583/share for Oct, Nov, Dec 2023; annualized rate $1.15.

• August 14, 2023, 7:59 PM ET earnings materiality 0.75 positive item 2.02item 7.01item 9.01 ◈ Earnings Releases

  Modiv Q2 revenue up 16.7% to $11.8M; completes transition to industrial REIT

  FFO of $7.9M ($0.75/diluted) vs $4.7M ($0.46) YoY; AFFO $3.3M ($0.31) vs $3.6M ($0.35).

• May 15, 2023, 7:59 PM ET earnings materiality 0.65 positive item 2.02item 7.01item 9.01 ◈ Earnings Releases

  Modiv Q1 revenue up 7.7% to $10.3M; AFFO rises to $0.30/share; $100.6M in acquisitions YTD

  Q1 revenue $10.3M (+7.7% YoY); AFFO $0.30 per diluted share vs $0.29 in prior-year quarter.

• February 23, 2023, 6:59 PM ET earnings materiality 0.75 positive item 2.02item 7.01item 9.01 ◈ Earnings Releases ×2

  Modiv Q4 AFFO $0.68, full-year AFFO $1.63 beats guidance; revenue $46.2M (+22% YoY); NAV $27.72

  Full-year 2022 AFFO $16.6M ($1.63/diluted share) exceeded guidance of $1.26-$1.36; revenue $46.2M (+22% YoY).

• November 14, 2022, 6:59 PM ET earnings materiality 0.70 neutral item 2.02item 7.01item 9.01 ◈ Earnings Releases

  Modiv reports Q3 revenue $10.2M, AFFO $0.31/diluted; expands credit facility to $400M

  Total Q3 revenue $10.2M (flat YoY; up 17% adj. for $1.5M termination fee in year-ago quarter).

Executive changes

Earnings & guidance

Materiality & sentiment trend

Max materiality 1.00 · Median 0.57 · Most common event dividend

18 positive 0 negative 32 neutral

source · MDV on sec.gov