Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 42

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 42
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 | $ |   91,789 |

| (3) | Peer group is the MSCI US REIT Index, which is the index in the performance graph provided pursuant to                                 
 Item 201(e) of Regulation S-K and the index used in our long-term incentive opportunity. Our long-term incentive opportunity also uses 
 a competitor peer group. Our Compensation Discussion and Analysis discloses two peer groups, a sized-based peer group and a competitor 
 peer group, which the Compensation Committee generally uses to compare our overall compensation practices against peer groups.         |

| 50 |

| (4) | We have identified Adjusted Company FFO as the most important additional financial metric used to link                                       
 pay and performance. A definition of Adjusted Company FFO and a reconciliation of Adjusted Company FFO to net income is included in Appendix 
 A.                                                                                                                                           |

<div align='center'>Financial Measures Our executive compensation programs have significant pay for performance components. The metrics used for our annual cash incentive opportunities are selected based on our then annual business plan and tended to focus on operational matters. The financial measure used for our annual long-term incentive opportunity is solely based on our TSR. Adjusted Company FFO and TSR are the two most frequently discussed financial measures used with our investors and analysts. Due to the transition of our portfolio from diversified to industrial and the resulting revenue dilution, our Compensation Committee has not included Adjusted Company FFO in the annual cash incentive opportunity as a metric. The long-term incentive opportunity portion of our executive compensation plan consists of a long-term incentive award 60% of which is performance-based non-vested shares and 40% time-based non-vested shares. The performance-based non-vested shares are split into two tranches: (1) 50% is based on our relative TSR compared to the MSCI US REIT Index after a three-year performance period, and (2) 50% is based on our relative TSR compared to a competitor peer group after a three-year performance period. Performance levels are: (1) threshold requires achieving at least 33 rdpercentile, (2) target requires achieving at least 50 thpercentile and (3) maximum requires achieving at least 75 thpercentile. Straight-line interpolation is used to determine awards for results between performance levels. Dividends on the performance-based non-vested shares accrue and are only payable if and to the extent the shares vest. Relationship Between Compensation Actually Paid and Company Performance The relationship between compensation actually paid and