Company: FR
Filing Date: 2025-08-21
Form Type: 424B5
Source: 0000921825-25-000095
Chunk: 8

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-08-21
Form: 424B5
Chunk 8
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 diluted earnings per share, return on investment and dividends per share is deemed to be increased by the excess, if any, of the number of shares of common stock that would be issued upon full physical settlement of such forward sale agreement over the number of shares of common stock that could be purchased by us in the market (based on the average market price during the period) using the proceeds receivable upon full physical settlement (based on the applicable forward sale price at the end of the reporting period). Consequently, we anticipate there will be no dilutive effect on our earnings per share prior to physical or net share settlement of such forward sale agreement except during periods when the average market price of shares of our common stock is above the applicable forward sale price. |
|                                           |     | However, if we decide to physically or net share settle any forward sale agreement, any delivery of our shares by us upon physical or net share settlement of such forward sale agreement will result in dilution to our earnings per share and return on equity.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| NYSE listing symbol                       |     | FR                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Risk factors                              |     | Investing in the Company’s common stock involves risks and prospective investors should carefully consider the matters discussed under “Risk Factors” beginning on pageS-4of this prospectus supplement, and the risks described under the caption “Item 1A. Risk Factors” in the Company’s and the Operating Partnership’s combined Annual Report on Form 10-K for the year ended December 31, 2024, which report is incorporated by reference in this prospectus supplement, as well as the other risks described in this prospectus supplement and the accompanying prospectus and the documents incorporated and deemed to be incorporated by reference in this prospectus supplement and the accompanying prospectus, before making a decision to invest in the Company’s common stock.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |

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### RISK FACTORS
Investing in the Company’s common stock involves a high degree of risk. In addition to the other information in this prospectus supplement, you should carefully consider the information contained in this prospectus supplement, the accompanying prospectus, the documents incorporated or deemed to be incorporated by reference herein or therein and any free writing prospectus that we may provide you in connection with this offering, including, without limitation, the following risks, the risks described in our Annual Report on Form 10-K for the year ended December 31