Company: FR
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0000921825-25-000032
Chunk: 24

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 24
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              |     | 1/02/2025 |     | Performance Units |     | 16,888 |     |  37,997 |     | 1/1/2025 - 12/31/2027 |
| Jennifer E.                   
 Matthews Rice                 |     | 1/02/2025 |     | Performance Units |     |  6,626 |     |  14,909 |     | 1/1/2025 - 12/31/2027 |

If a Performance-Based Award is granted in the form of Performance RSUs, each Performance RSU represents the right to receive one share of Common Stock upon vesting, plus any accrued dividends from the date of issuance to the vesting date.

If a Performance-Based Award is granted in the form of Performance Units, additional conditional Performance Units are awarded to represent anticipated dividends. These additional Performance Units are subject to the same restrictions as the underlying Performance Units and are subject to forfeiture upon vesting to the extent of dividends actually received with respect to the applicable Performance Units during the performance period. The number of Performance Units reflected as issued to each Named Executive Officer in the table above excludes such conditional Performance Units. If applicable vesting conditions and any other restrictions are not satisfied, recipients will forfeit their Performance Units. During the performance period, each Performance Unit entitles the holder to receive dividends equal to one-tenth of the dividends payable with respect to Units.

Upon the consummation of a change in control of the Company, Performance-Based Awards vest based on the level of achievement of the applicable performance targets through the date of the change in control. If employment is terminated due to death or disability, vesting is similarly based on the level of achievement of the applicable performance targets through the date of death or disability. In cases of retirement, the grantee retains the Performance-Based Awards, and such Performance-Based Awards would vest at the end of the original performance period based on the actual level of achievement of the relevant performance targets.

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Performance to Date for Prior Grants

The Company’s performance to date for Performance-Based Awards granted in 2022, 2023 and 2024 is shown below:

(1) The Performance Period for these awards remains open and the payout percentage for these awards has not been determined and may be different than the amounts indicated on the table above.

Time-Based Awards

We also provide Time-Based Awards that vest in equal annual installments over a three-year period based on our