Company: LXP
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001444838-25-000023
Chunk: 128

Company: LXP Industrial Trust
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 128
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,994 

(15)Segment Reporting

The Company is a real estate investment trust focused on operating, acquiring and developing Class A warehouse and distribution facilities. A majority of the properties are subject to net or similar leases, where the tenant bears all or substantially all of the costs, including cost increases, for real estate taxes, utilities, insurance and ordinary repairs. All of the properties are located in North America and operate within a comparable regulatory environment. The CODM, which is the Company's Chief Executive Officer, reviews the business on a consolidated basis to assess performance and make operating decisions. The Company has only one operating segment because of its organizational and management structure, as well as information used by the CODM to make decisions about resource allocation and assess performance.

The CODM uses consolidated net income (loss), as reported on the consolidated statements of operations, as a measure when determining where to make investments to achieve growth initiatives and assess the Company’s ability to pay dividends. The CODM manages the business using consolidated expenses as reported on the consolidated statements of operations, as well as regularly provided forecasted expense information for the single operating segment when making decisions about the allocation of operating and capital resources. Details of the Company's assets provided to the CODM are consistent with those reported on the consolidated balance sheets with particular emphasis on the Company’s available liquidity, including its cash and cash equivalents, restricted cash and liabilities. 

(16)Benefit Plans

Non-vested share activity for the years ended December 31, 2024 and 2023, is as follows:Number ofSharesWeighted-Average Grant-Date FairValue Per ShareBalance at December 31, 20222,058,890 $8.70 Granted1,191,697 7.97 Vested(526,453)9.08 Forfeited(184,661)6.34 Balance at December 31, 20232,539,473 8.45 Granted1,570,459 7.33 Vested(425,302)10.37 Forfeited(459,230)6.66 Balance at December 31, 20243,225,400 $7.90 

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Table of ContentsLXP INDUSTRIAL TRUST AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS($000, except share/unit data)

During 2024 and 2023, the Company granted common shares to certain employees and trustees as follows