Management ChangeApr 30, 2026, 05:16 PM
MDV Amends 10-K; CFO Change; Exec Comp Includes $11.5M Equity Grants
AI Summary
Modiv Industrial, Inc. (MDV) filed an amendment to its 2025 Form 10-K to include Part III information, as it does not expect to file its definitive proxy statement within 120 days. The amendment details executive compensation, including significant Class X OP Unit grants to its named executive officers. John C. Raney was appointed CFO and Secretary in March 2026, succeeding Raymond J. Pacini, who remains Executive Vice President. The company also provided details on director compensation and auditor fees.
Key Highlights
- John C. Raney appointed CFO and Secretary in March 2026; Raymond J. Pacini remains EVP.
- Aaron S. Halfacre received $8,138,018 in stock awards (546,543 Class X OP Units) in 2025.
- Raymond J. Pacini received $967,850 in stock awards (65,000 Class X OP Units) in 2025.
- John C. Raney received $2,419,625 in stock awards (162,500 Class X OP Units) in 2025.
- Aaron S. Halfacre's salary ceased April 1, 2025, in connection with Class X OP Unit grant.
- Grant Thornton's audit fees were $493,451 in 2025 and $466,779 in 2024.
- Independent directors received $60,000 annual cash retainer and $60,000 stock grant in 2025.
- Thomas H. Nolan, Jr. appointed Non-Executive Chairman in September 2024.
Price Impact
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