Company: FR
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0000921825-25-000032
Chunk: 21

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 21
---
 for the 2024 Employee Bonus Plan. At target performance, the bonus pool is funded at the aggregate 75% level of achievement. At maximum performance, the bonus pool is funded at the aggregate 125% level of achievement. The Company’s 2024 performance in the identified performance categories resulted in the following funding of the bonus pool associated with that performance category:

| Category                    |     | Performance Target |     | Performance Result(3) |     | Actual Bonus Pool 
 Funding %         |
| FFO per diluted share/Unit  |     | $2.67(1)           |     | $2.73(1)              |     | 125%              |
| SS NOI growth               |     | 8.50%(2)           |     | 8.09%(2)              |     | 80%               |
| Fixed charge coverage ratio |     | 4.46x              |     | 4.70x                 |     | 125%              |
| Discretionary objectives    |     | N/A                |     | N/A                   |     | 100%              |
|                             |     |                    |     |                       |     | Overall: 110%     |

(1) Amount excludes accrual of cash bonuses.

(2) The Compensation Committee calculates SS NOI growth using a cumulative quarterly average as opposed to the methodology traditionally utilized in our financial reporting, which measures the year-over-year growth of the year-end population of our properties.

(3) The performance results reflect other adjustments to exclude the effects of certain non-recurring, one-time items and the impact of unbudgeted investments and dispositions, which adjustments were approved by the Compensation Committee and permitted by the 2024 Employee Bonus Plan.

<div align='center'>21</div>

The Compensation Committee determined that the funding percentage for the bonus pool with respect to the discretionary objectives should be 100% based on the Company’s overall performance in 2024. The Compensation Committee authorized an aggregate bonus pool under the 2024 Employee Bonus Plan up to a 110% level of achievement for bonuses of all eligible employees, including the Named Executive Officers. After the Compensation Committee determined the aggregate bonus pool available and the specific amounts for each of the Named Executive Officers, the Compensation Committee and our Chief Executive Officer allocated the individual award recipients’ performance awards based on the individual award recipients’ performance.

Bonuses for the Named Executive Officers at the 100% level of achievement under the 2024 Employee Bonus Plan were