Company: FR
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0000921825-25-000032
Chunk: 13

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 13
---
.9 million related to accelerated recognition of tenant improvement reimbursements for the twelve months ended December 31, 2024 and 2023, respectively.

### OBJECTIVES AND DESIGN OF COMPENSATION PROGRAMS
The Company maintains the philosophy that compensation of its executive officers and other employees should serve the best interests of the Company’s stockholders. Accordingly, the Company believes that its executive compensation program should not only serve to attract and retain talented and capable individuals but should also provide them with proper incentives linked to performance criteria that are designed to maximize the Company’s overall performance. To this end, the Company’s compensation program consists of a mix of compensation that is intended to compensate executive officers for their contributions during the year and to reward them for achievements that lead to increased Company performance and increases in stockholder value over the long term.

What We Pay and Why

Following is a summary of (a) the Compensation Committee’s objectives for the compensation of our Named Executive Officers and (b) how the Compensation Committee believes its decisions on executive officer compensation achieve the stated objectives:

| OBJECTIVES                                                                                                                                                                                   |
| •Reward performance and initiative                                                                                                                                                           
 •Attract, retain and reward executive officers who have the motivation, experience, and skills to continue our track record of profitability, growth and attractive total shareholder return 
 •Be competitive with other REITs and private companies viewed as competitors for executive talent                                                                                            
 •Link compensation with enhancing stockholder value                                                                                                                                          
 •Reward for short-term and long-term successes                                                                                                                                               
 •Manage institutional risk                                                                                                                                                                   |

<div align='center'>15</div>

| HOW OBJECTIVES ARE ACCOMPLISHED                                                                                                                                                                                                                                                                                                                                                          |
| •While we do not employ a formula, base salary generally comprises a minority portion of each Named Executive Officer’s total target compensation.                                                                                                                                                                                                                                       
 •A significant portion of each Named Executive Officer’s total target compensation is structured as performance-based compensation using a combination of annual cash bonus, with appropriate caps on those payouts, and long-term incentive equity awards.                                                                                                                              
 •We utilize a variety of objective performance goals that we consider key drivers of value creation to minimize the potential risk associated with over-weighting any particular performance measure. Goals have historically included funds from operations, same store net operating income growth, fixed charge coverage ratio and discretionary objectives.                          
 •The ultimate value of long-term performance-based incentive equity awards is dependent on the Company's total shareholder return as compared to both a REIT index and a select peer group. We think using both performance measures, together with time-based equity awards, provides a