Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 31

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 31
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 each measure. In the first quarter of 2025, the Compensation Committee evaluated the Company’s performance on the objective and subjective measures and made the determinations as detailed below.</div>

|                                          | Weighting |      Target | Actual at 12/31/2024 | Determination |
| Investments                              | 35%       |             |                      | 23.33%        |
| Stabilized Development Square Feet       |           | 1.5 million |         0.25 million |               |
| Stabilized Development 

# of Buildings    |           |           4 |                    1 |               |
| Stabilized Development Pre-Promote Yield |           |        6.5% |                  >7% |               |

| 36 |

<div align='center'>Rationale: Stabilization of our development pipeline was a primary part of our 2024 business plan. Result: We leased a 250,000 square foot development in Columbus, OH shortly after completion. While there was activity on our other development facilities, including a potential lease for the 1.1 million square foot Ocala, Florida facility, the headwinds from supply and tenant demand continue to weigh on leasing outcomes.</div>

|                                  | Weighting | Target |   |        Actual 
 at 12/31/2024 |   | Determination |
| Portfolio Management             | 30%       |        |   |               |   | 40.00%        |
| Industrial Percent Leased        |           |     97 | % |            94 | % |               |
| Industrial Same-Store NOI Growth |           |      4 | % |             5 | % |               |
| Warehouse/Distribution Leasing   
 Spreads                          |           |     25 | % |           >30 | % |               |

<div align='center'>Rationale: We believe that the embedded mark-to-market opportunity in our portfolio continues to be one of the main selling points with investors. We believe management should be appropriately incentivized to proactively renew leases or release spaces. Result: We had strong leasing activity in 2024, which led to strong same-store NOI growth of 5% and increases in Base and Cash Base rents by 46.5% and 39.7%, respectively, excluding tenant improvement reimbursements in one lease and a fixed-rate renewal.</div>

|                                   | Weighting | Target          | Actual        
 at 12/31/2024 | Determination