FIRST INDUSTRIAL REALTY TRUST INC Files DEF 14A

Ticker: FR · Form: DEF 14A · Filed: Apr 4, 2024 · CIK: 921825

First Industrial Realty Trust Inc DEF 14A Filing Summary
FieldDetail
CompanyFirst Industrial Realty Trust Inc (FR)
Form TypeDEF 14A
Filed DateApr 4, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$1.4 million, $0.37
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, First Industrial Realty Trust, Corporate Governance, Executive Compensation

TL;DR

<b>FIRST INDUSTRIAL REALTY TRUST, INC. files a Definitive Proxy Statement (DEF 14A) on April 4, 2024.</b>

AI Summary

FIRST INDUSTRIAL REALTY TRUST INC (FR) filed a Proxy Statement (DEF 14A) with the SEC on April 4, 2024. Filing type: DEF 14A. Reported period: 2024-04-30. Filed as of date: 2024-04-04. Company SIC code: 6798 (Real Estate Investment Trusts). Incorporated in: Maryland.

Why It Matters

For investors and stakeholders tracking FIRST INDUSTRIAL REALTY TRUST INC, this filing contains several important signals. This filing is a DEF 14A, indicating it's a definitive proxy statement related to shareholder meetings and voting matters. The filing covers the reporting period ending April 30, 2024, and was filed on April 4, 2024, providing timely information to shareholders.

Risk Assessment

Risk Level: low — FIRST INDUSTRIAL REALTY TRUST INC shows low risk based on this filing. The filing is a routine DEF 14A, which typically contains information about executive compensation, board nominations, and other corporate governance matters, posing no immediate new risks.

Analyst Insight

Review the executive compensation details and any proposed shareholder resolutions within the DEF 14A to understand potential impacts on corporate governance and shareholder value.

Key Numbers

  • 2024-04-04 — Filing Date (Date the DEF 14A was filed)
  • 2024-04-30 — Period of Report (The period the filing is reporting on)
  • 2023-12-31 — Fiscal Year End (The company's fiscal year end date)
  • 001-13102 — SEC File Number (The SEC file number for the company)

Key Players & Entities

  • FIRST INDUSTRIAL REALTY TRUST INC (company) — Filer name
  • 0000921825 (company) — Central Index Key
  • 6798 (regulator) — Standard Industrial Classification
  • MD (company) — State of Incorporation
  • 1 NORTH WACKER DRIVE (company) — Business Address Street 1
  • CHICAGO (company) — Business Address City
  • IL (company) — Business Address State
  • 3123444300 (company) — Business Phone

FAQ

When did FIRST INDUSTRIAL REALTY TRUST INC file this DEF 14A?

FIRST INDUSTRIAL REALTY TRUST INC filed this Proxy Statement (DEF 14A) with the SEC on April 4, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by FIRST INDUSTRIAL REALTY TRUST INC (FR).

Where can I read the original DEF 14A filing from FIRST INDUSTRIAL REALTY TRUST INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by FIRST INDUSTRIAL REALTY TRUST INC.

What are the key takeaways from FIRST INDUSTRIAL REALTY TRUST INC's DEF 14A?

FIRST INDUSTRIAL REALTY TRUST INC filed this DEF 14A on April 4, 2024. Key takeaways: Filing type: DEF 14A. Reported period: 2024-04-30. Filed as of date: 2024-04-04.

Is FIRST INDUSTRIAL REALTY TRUST INC a risky investment based on this filing?

Based on this DEF 14A, FIRST INDUSTRIAL REALTY TRUST INC presents a relatively low-risk profile. The filing is a routine DEF 14A, which typically contains information about executive compensation, board nominations, and other corporate governance matters, posing no immediate new risks.

What should investors do after reading FIRST INDUSTRIAL REALTY TRUST INC's DEF 14A?

Review the executive compensation details and any proposed shareholder resolutions within the DEF 14A to understand potential impacts on corporate governance and shareholder value. The overall sentiment from this filing is neutral.

How does FIRST INDUSTRIAL REALTY TRUST INC compare to its industry peers?

First Industrial Realty Trust, Inc. operates as a real estate investment trust (REIT) focused on industrial properties. REITs are companies that own, operate, or finance income-generating real estate.

Are there regulatory concerns for FIRST INDUSTRIAL REALTY TRUST INC?

The DEF 14A filing is a requirement under the Securities Exchange Act of 1934, mandating public companies to provide detailed information to shareholders regarding matters to be voted on at annual or special meetings.

Industry Context

First Industrial Realty Trust, Inc. operates as a real estate investment trust (REIT) focused on industrial properties. REITs are companies that own, operate, or finance income-generating real estate.

Regulatory Implications

The DEF 14A filing is a requirement under the Securities Exchange Act of 1934, mandating public companies to provide detailed information to shareholders regarding matters to be voted on at annual or special meetings.

What Investors Should Do

  1. Analyze executive compensation packages disclosed in the DEF 14A.
  2. Review any proposed amendments to corporate governance policies.
  3. Identify key proposals for shareholder votes and understand management's recommendations.

Key Dates

  • 2024-04-04: Filing of DEF 14A — Provides updated proxy information to shareholders.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure for proxy matters and does not represent a change in reporting frequency or type compared to previous filings of the same nature.

Filing Stats: 4,753 words · 19 min read · ~16 pages · Grade level 11.4 · Accepted 2024-04-04 16:42:29

Key Financial Figures

  • $1.4 million — th (1) Same store NOI growth excludes $1.4 million of insurance settlement gain recognized
  • $0.37 — ncreased first quarter 2024 dividend to $0.37 per share/unit, a 15.6% increase from 2

Filing Documents

Security Ownership of Management and Certain Beneficial Owners

Security Ownership of Management and Certain Beneficial Owners 55 Proposal 4 — Ratification of Appointment of Independent Registered Public Accounting Firm 56 Other Matters 56 Solicitation of Proxies 56 Stockholder Proposals 56 Incorporation by Reference 56 Availability of Proxy Materials 56 Other Business A-1 Appendix A — 2024 Annual Meeting of Stockholders Reservation Request Form Table of Contents PROXY STATEMENT SUMMARY This summary highlights information that is contained elsewhere in this proxy statement. It does not include all information necessary to make a voting decision and you should read this proxy statement in its entirety before casting your vote. VOTING OVERVIEW Proposals Board Vote Recommendation Page 1. Elect seven directors to the Board of Directors to serve until the 2025 Annual Meeting of Stockholders, and until their successors are duly elected and qualified FOR each nominee 4 2. Approve the First Industrial Realty Trust, Inc. 2024 Stock Incentive Plan FOR 14 3. Approve, on an advisory (i.e. non-binding) basis, the compensation of the Company's Named Executive Officers as disclosed in this Proxy Statement FOR 23 4. Ratify the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024 FOR 55 FIRST INDUSTRIAL AT A GLANCE First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator, and developer of industrial real estate 58.3% 95.5% 8.4% 2023 Record Cash Rental Rate Growth Year-End Occupancy 2023 Cash Same Store NOI Growth (1) 15.6% 1.9 MSF 15.8 MSF Dividend Increase From 2023-2024 (2) Under Construction, 100% Coastal Orientation Developable on Strategic Sites for Future Growth (1) Same store NOI growth excludes $1.4 million of insurance settlement gain recognized during the twelve months ended December 31, 2022. (2) Increased first quarter 2024 dividend to $0.37 p

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