Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 43

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 43
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 company performance for the years presented above aligns with our TSR due to the high percentage of total compensation that consists of equity awards. Net income is not used in our executive compensation program due to fluctuations in net income experienced by real estate companies due to the impact of items such as depreciation and amortization and gains/losses on sales of properties, which was heavily impacted by the disposition volume in recent years as part of our portfolio transition from diversified to industrial. Although, net income is used to determine certain non-GAAP financial measures used in our executive compensation plan.</div>

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<div align='center'>Adjusted Company FFO was not used in our executive compensation program for the years presented above due to the impact of our portfolio transition and first-generation vacancy. The portfolio transition entailed selling higher yielding, but riskier office and other assets and recycling the proceeds into lower yielding, but less risky warehouse and distribution assets that have greater rent growth and releasing potential, which impacted Adjusted Company FFO growth in the years presented above. First-generation vacancy impacted year-over-year Adjusted Company FFO growth in 2024. As a result of such impacts, Adjusted Company FFO may not have been aligned with compensation actually paid.</div>

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<div align='center'>The following illustrates our cumulative TSR for the period beginning December 31, 2019 versus the MSCI US REIT Index.

CEO PAY RATIO</div>

For
2024, the annual total compensation of our median employee (other than our CEO) was $178,700 and the annual total compensation of
our CEO was $5,681,325, and the ratio of the annual total compensation of our CEO to the median of the annual total compensation of
all employees was estimated to be 32 to 1. This ratio is a reasonable estimate calculated in a manner consistent with Item 402(u) of
Regulation S-K under the Exchange Act.

To identify
the median of the annual total compensation of all of our employees we used Medicare wages and tips for all 59 employees as of December
31, 2024. The annual total compensation of our median employee and our CEO were calculated in accordance with the requirements for the
Summary Compensation Table above.

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<div align='center'>TRUSTEE COMPENSATION None of our employees receives or will receive any compensation for serving as a member of our Board of Trustees or any of its committees. Our non-employee trustees received the following aggregate amounts of compensation for the year ended