Company: FR
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0000921825-25-000032
Chunk: 38

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 38
---
50.13 as of December 31, 2020, 2021, 2022, 2023 and 2024, respectively) or, in the case of vesting dates, the actual vesting price, and (b) for Performance Units and Performance RSUs, the fair value calculated by a Monte Carlo simulation model as of the applicable year-end date(s) or in the case of vesting date, the actual vesting price, determined based on the same methodology as used to determine grant date fair values but using the closing stock price on the applicable revaluation date as the current market price and based on volatility, dividend rates and risk free rates determined as of the revaluation date.

(2) As previously discussed in the Company’s 2021 Proxy Statement, during the year ended December 31, 2020, each NEO received one-time transitional equity grants in connection with the transition of the historical compensation program to our current compensation program. Specifically, the 2020 grants included one-year, two-year and three-year vesting or performance periods as one-time only grants in order maintain an appropriate level of overall long-term compensation opportunity during the transition between the two programs. For the years ended December 31, 2022, 2021 and 2020, the value of these one-time transition awards included in Compensation Actually Paid for the CEO was $(74,205), $743,580, and $1,299,887, respectively. For the years ended December 31, 2022, 2021, and 2020, the value of these one-time transition awards included in Compensation Actually Paid for the Non-CEO NEOs was $(40,450), $111,154, and $261,959, respectively.

<div align='center'>37</div>

Other Important Financial Performance Measures for Executive Compensation

The following is a list identifying the five most important financial performance measures used by our Compensation Committee to link the “compensation actually paid” (“CAP”) to our CEO and other Named Executive Officers in 2024 to the Company’s performance. The role of each of these performance measures on our Named Executive Officer’s compensation is discussed in the “Compensation Discussion and Analysis” section above.

| Financial Performance Measures                 |
| FFO per Diluted Share/Unit                     |
| Relative TSR to FTSE Nareit All Equity Index   |
| Relative TSR to Long-Term Incentive Peer Group |
| Same Store NOI Growth                          |
| Fixed Charge Coverage Ratio                    |

Below