This is a purely administrative amendment adding corporate governance disclosures. No financial restatement or material event. Monitor the next quarterly filing for any operational updates from the new CFO.
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Executive Summary
Modiv Industrial filed Amendment No. 1 to its 2025 10-K solely to add Part III information (directors, executive compensation, beneficial ownership) that was omitted from the original filing because the company will not file a proxy statement within 120 days of year-end. The amendment includes updated Section 302 certifications and discloses CFO/Secretary succession (Pacini resigned, Raney appointed) and large equity grants to executives. No financial restatements or changes to financial statements are included.
Key Facts
- Amendment filed solely to add Part III information (directors, executive compensation, beneficial ownership) not included in original 10-K filed March 25, 2026
- Raymond J. Pacini resigned as CFO and Secretary upon filing of the original 10-K; John C. Raney appointed as CFO, General Counsel and Secretary
- CEO Aaron Halfacre ceased drawing salary effective April 1, 2025 and received 546,543 Class X OP Units valued at $8,138,018
- Total 2025 compensation: CEO Halfacre $8,245,521, EVP Pacini $1,390,150, CFO Raney $2,841,925
- Grant Thornton remains independent auditor; audit fees were $493,451 for 2025 and $466,779 for 2024
- No related party transactions occurred in 2024 or 2025
- Two 5%+ shareholders: First City Investment Group (5.2%) and BlackRock (5.1%)
Financial Impact
No financial restatements or changes to previously reported financials. Executive compensation disclosed: CEO total $8.2M (primarily equity), EVP $1.4M, CFO $2.8M.
Risk Factors
- No material risks identified from this administrative filing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 10-K/A Filing (Primary) | 0001645873-26-000057 |
| Document: modivreit-12312025xex314.htm | 0001645873-26-000057 |
| Document: modivreit-ex31312312025.htm | 0001645873-26-000057 |
| Document: 0001645873-26-000057-index-headers.html | 0001645873-26-000057 |
| Document: 0001645873-26-000057-index.html | 0001645873-26-000057 |
| Document: 0001645873-26-000057.txt | 0001645873-26-000057 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 9w ago | 15-12G | — | awaiting T+20 | — | — |
Aug 19, 2026 9w ago | EFFECT | — | awaiting T+20 | — | — |
Aug 12, 2026 10w ago | 25-NSE | $18.05 | awaiting T+20 | — | — |
Jul 1, 2026 16w ago | Insider Buy | $17.40 $17.71 | ▲ +1.78% | ▲ +3.97% | — |
Jun 24, 2026 17w ago | DEFM14A | $17.62 $17.73 | ▲ +0.62% | ▲ +0.10% | — |
May 4, 2026 25w ago | 8-K / 425 | $24.95 $25.25 | ▲ +1.20% | ▼ −4.44% | — |
Apr 30, 2026 25w ago | 10-K/A | $24.71 $25.25 | ▲ +2.19% | ▼ −3.08% | — |
Mar 19, 2026 31w ago | 8-K | $14.33 $15.98 | ▲ +11.52% | ▲ +3.90% | — |
US Market Status
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