Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 46

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 46
---
 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

| 55 |

<div align='center'>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 |        2023 |        2022 |  Three-Year 
     Average |
| Restricted shares granted           |     690,852 |     469,487 |     314,573 |     491,637 |
| Performance shares granted (at      
 “Maximum”)                          |     978,359 |     815,217 |     565,435 |     786,337 |
| Performance shares vested           |     119,519 |     266,812 |     552,121 |     312,817 |
| Total Shares (1)                    |     810,371 |     736,299 |     866,694 |     804,455 |
| Weighted Average Shares Outstanding 
 Basic                               | 291,472,930 | 290,245,877 | 279,887,760 | 287,202,189 |
| Burn Rate                           |       0.28% |       0.25% |       0.31% |       0.28% |

| (1) | Reflects the aggregate number of restricted shares granted and performance shares vested in the applicable 
 year.                                                                                                      |

<div align='center'>The historical amounts shown above are not necessarily indicative of the shares that might be awarded in 2025 and beyond. Based on generally accepted evaluation methodologies, we conclude that the number of shares under the 2022 Amended Plan (after giving effect to the 2022 Plan Amendment) is well within generally accepted standards as measured by an analysis of the plan cost relative to industry standards. Key Features of the 2022 Amended Plan We believe that the 2022 Amended Plan contains a number of