Company: FR
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0000921825-25-000032
Chunk: 15

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 15
---
 Company and the Compensation Committee engage the services of outside consultants to evaluate the Company’s executive compensation programs. Consistent with SEC rules, prior to any such engagement, the Company assesses any potential conflicts of interest before retaining the consultant to ensure their independence and objectivity.

<div align='center'>16</div>

In 2024, Ferguson Partners Consulting, L.P. (“FPC”) was retained by the Compensation Committee to provide certain compensation-related services with respect to executive and director compensation. Consistent with SEC rules, the Company assessed whether the work of FPC raised any conflict of interest and determined that the retention of FPC to advise the Compensation Committee concerning executive and director compensation matters did not create a conflict of interest. Neither the Compensation Committee nor the Company has any other professional relationship with FPC, although an affiliate of FPC periodically provides recruitment services to the Company. The Compensation Committee retains the discretion to work again with FPC or an alternative compensation consultant to review our executive compensation program.

As part of its services during 2024, FPC helped the Compensation Committee in identifying a peer group to benchmark our Named Executive Officers’ compensation against compensation packages for similarly situated executive officers at comparable companies. It is important to note, however, that this peer group comparison is not the sole determinant in setting pay levels for our Named Executive Officers. Instead, the Compensation Committee views the peer group comparison as one component of its ongoing review of our pay practices. In particular, the Compensation Committee also considers Company and individual performance and the nature of an individual’s role within the Company, as well as their experience in and contributions to their current role, when making its compensation-related decisions.

In consultation with FPC, the Compensation Committee identified the following publicly traded equity REITs as peer group companies:

| Peer Group Companies                         |     |                                                   |
| Agree Realty Corporation (ADC)(1)            |     | LXP Industrial Trust (LXP)(2) (3)                 |
| Americold Realty Trust, Inc. (COLD)(1) (2)   |     | Omega Healthcare Investors, Inc. (OHI)(1)         |
| Brixmor Property Group Inc. (BRX)(1)         |     | Rexford Industrial Realty, Inc. (REXR)(1) (2) (3) |
| CubeSmart (CUBE)(1)                          |     | STAG Industrial, Inc. (STAG)(1) (2) (3)           |
| EastGroup Properties, Inc. (EGP)(