Company: LXP
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000910108-25-000067
Chunk: 94

Company: LXP Industrial Trust
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 94
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, 2025 and 2024, respectively.The following table shows the Company's maturity analysis of its operating lease liabilities as of September 30, 2025:Operating Leases2025 - remainder$1,308 20264,451 20273,968 20281,356 2029519 2030301 Thereafter5,095 Total lease payments$16,998 Less: Imputed interest(3,427)Present value of lease liabilities$13,571 

(10)Concentration of Risk

The Company seeks to reduce its operating and leasing risks through the geographic diversification of its properties in target markets, tenant industry diversification, avoidance of dependency on a single asset and the creditworthiness of its tenants. For the nine months ended September 30, 2025 and 2024, no single tenant represented greater than 10% of rental revenues.Cash and cash equivalent balances at certain institutions may exceed insurable amounts. The Company believes it mitigates this risk by investing in or through major financial institutions.

(11)Equity

Shareholders' EquityAt-The-Market Offering Program. The Company maintains an At-The-Market offering program ("ATM program") under which the Company can issue common shares, including through forward sales contracts.The Company may, from time to time, sell up to $350,000 of common shares over the term of the ATM program. During the nine months ended September 30, 2025 and 2024, the Company did not sell shares under the ATM program.Stock-Based Compensation. During the nine months ended September 30, 2025 and 2024, the Company issued 82,318 and 76,215, respectively, of fully vested common shares to members of the Company's Board of Trustees with a fair value of $711 and $675, respectively.Share Repurchase Program. In August 2022, the Company's Board of Trustees authorized the repurchase of up to an additional 10,000,000 common shares under the Company's share repurchase program, which has no expiration date. No common shares were repurchased during the nine months ended September 30, 2025 and 2024. As of September 30, 2025, 6,874,241 common shares remain available for repurchase under this authorization. The Company records a liability for repurchases that have not yet been settled as of the period end. There were no unsettled repurchases as of September 30,