Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 9

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 9
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 grant under the 2022 Plan and (z) any shares subject to outstanding awards under the 2022 Plan. Other than the increase in the number of common shares available for issuance thereunder, there are no other changes to the 2022 Plan. If the 2022 Plan Amendment is approved by our shareholders, our Board of Trustees intends to cause the additional common shares that will become available for issuance to be registered on a Form S-8 registration statement to be filed with the SEC at our expense. On April 8, 2025, the closing price of our common shares as reported by the New York Stock Exchange was $7.22 per share. Why You Should Vote for the 2022 Plan Amendment Our Board of Trustees believes that awards under the 2022 Amended Plan will focus participants on the objective of creating shareholder value and promoting our success, as well as further aligning participants’ interests with those of our shareholders and encouraging their long-term commitment to us. Our Board of Trustees believes that the 2022 Plan is an important factor in attracting, retaining and motivating employees, consultants, and trustees of us and our affiliates. Our compensation links the interest of our employees, consultants, and trustees with those of our shareholders and motivates our employees as owners of the business.</div>

| 9 |

<div align='center'>In determining whether to approve the 2022 Plan Amendment, the Compensation Committee of our Board of Trustees received input from its independent compensation consultant. Our Board of Trustees believes that we need the flexibility to have an increased reserve of common shares, which we refer to in this summary as Shares, available for future equity-based awards. In setting the number of the proposed increase in shares issuable under the 2022 Plan Amendment, the Compensation Committee also considered the dilution and burn rate of our equity-based compensation. As of the Record Date, the potential dilution from the 4,627,072 common shares available for grant and subject to outstanding awards under the 2022 Plan represented approximately 1.56% of our fully diluted common shares outstanding, or our overhang percentage. If Shareholders approve the 2022 Plan Amendment, the 5,000,000 shares proposed to be reserved for issuance under the 2022 Amended Plan would potentially increase our overhang percentage by 1.69% to approximately 3.25%. Our three-year average burn rate was approximately 0.28% as shown in the following table.</div>

| Year                                      |        2024 |