Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 27

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 27
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 20 public REITs, which operate across multiple                                              
 asset classes and are similar in size to our total capitalization. The total capitalization range for this peer group was $5.6 billion         
 to $2.95 billion as of October 31, 2023, which is approximately when the peer group was determined and utilized by the Compensation Committee. 
 Our total capitalization was at approximately the 36th percentile ($4.0 billion) of this peer group as of October 31, 2023. The companies      
 included in this peer group are as follows:                                                                                                    |

| Acadia Realty Trust                     | American Assets Trust, Inc.          | Apple Hospitality REIT, Inc.    |
| Broadstone Net Lease, Inc.              | COPT Defense Properties              | Empire State Realty Trust, Inc. |
| Essential Properties Realty Trust, Inc. | Four Corners Property Trust, Inc.    | JBG SMITH Properties            |
| National Health Investors, Inc.         | Paramount Group, Inc.                | Pebblebrook Hotel Trust         |
| Physicians Realty Trust                 | Retail Opportunity Investments Corp. | RLJ Lodging Trust               |
| Sabra Health Care REIT, Inc.            | SITE Centers Corp.                   | Tanger, Inc.                    |
| Urban Edge Properties                   | Veris Residential, Inc               |                                 |

<div align='center'>The size-based peer group helped the Compensation Committee compare our overall compensation practices against a broader mix of REITs to ensure that our compensation practices are reasonable due to the size of our organization. The Compensation Committee generally focuses on the average of the two peer groups, except in cases where such average is determined to be excessive in light of the circumstances. Although the two peer groups are comprised solely of REITs, we also compete for talent with other public and private companies in the locations where our employees reside. Therefore, we also consider other information regarding market trends in compensation in addition to the data derived from these peer group reviews. FPC prepared a compensation study for the Compensation Committee that contains:</div>

| ● | a summary of market findings; |

| ● | high-level performance information and its impact on compensation trends within the real estate industry; |

| ● | certain background information, including size and performance statistics for our company and the peer 
 group constituents; and                                                                                |

| ● | the results of a competitive benchmarking analysis for our named executive officers and certain other 
 employees on both an individual and aggregate basis.                                                  |

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