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

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 15
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 currently consists of an independent Lead Trustee and an executive Chairman. Our Board of Trustees currently believes that it is appropriate to combine the positions of Chairman and Chief Executive Officer at this time due to Mr. Eglin’s critical role in creating and implementing our current strategy. Mr. Eglin has guided us through various market cycles and our transformation from a diversified net-lease REIT into an industrial REIT, and our Board of Trustees believes that he is the appropriate person to continue to serve as our Chairman. Our Board of Trustees believes that a Lead Trustee, who is independent, is necessary and appropriate to provide additional, independent leadership to the Board. Our Corporate Governance Guidelines provide that the Lead Trustee shall have the authority and specific responsibilities set forth under “Corporate Responsibility—Governance—Independent Lead Trustee,” above.</div>

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Ms. Handwerker
has been our independent Lead Trustee since May 23, 2023. Ms. Handwerker has experience as a sell-side analyst, a hedge fund manager and
a direct real estate investor and she is also an independent board member and audit committee chair of another publicly traded real estate
investment trust, which our Board of Trustees, including the members of the Nominating and ESG Committee, believed made her a candidate
suitable for our Lead Trustee.

Strategy
and risk are an integral part of our Board of Trustees and Committee deliberations throughout the year. Management regularly updates,
and reports to our Board of Trustees with respect to, our business plan. Management also performs a quarterly fraud risk assessment, which
is reported to our Board of Trustees. The quarterly fraud risk assessment assesses the critical risks we face (e.g., strategic, operational,
financial, legal/regulatory, and reputational), their relative magnitude and management’s actions to mitigate these risks. In addition,
the Audit and Cyber Risk Committee assists our Board of Trustees with the oversight of our risk management program, including its oversight
of our internal audit function, enterprise risk management and cybersecurity risks.

Cybersecurity

As a smaller
company, we use third-party vendors to assist us with our network and information technology requirements. Since 2019, BDO USA, LLC has
provided us with virtual chief technology officer services, including chief information security officer services. In 2022, Mr. Gupta,
a cyber security expert, joined our Board of Trustees. Mr. Gupta has significant experience in, among other areas, emerging technologies
and coordinating national security and technology policy.

On at least