Recent 8-K filings for MDV

• 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

  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.

Executive changes

Earnings & guidance

Materiality & sentiment trend

Max materiality 0.95 · Median 0.60 · Most common event dividend

12 positive 0 negative 19 neutral

source · MDV on sec.gov