Company: LXP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001539497-25-001131
Chunk: 26

Company: LXP Industrial Trust
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 26
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 or single-trigger change in control severance payments 
 We                                                                                                  
 do not encourage unnecessary or excessive risk taking as a result of our compensation policies      
 We                                                                                                  
 do not guarantee compensation or uncapped bonus payments, except in transition situations           
 We                                                                                                  
 do not allow for repricing of stock options                                                         
 We                                                                                                  
 do not allow hedging or pledging of our stock                                                       |

<div align='center'>Independent Compensation Consultant During 2024, the Compensation Committee retained Ferguson Partners Consulting, L.P., a nationally known executive compensation and benefits consulting firm, which we refer to as FPC. Other than reviewing and advising the Compensation Committee with respect to executive and trustee compensation, FPC does not provide any non-executive compensation or other services for us. As a result, FPC is an independent compensation consultant. Management does not retain any executive compensation consultant. Peer Group Benchmarking Analysis. We are always competing for the best talent with our direct industry peers and with the broader market. Accordingly, the Compensation Committee regularly reviews the market data, pay practices and ranges of our “peer” companies and the broader market to ensure that we continue to offer a relevant and competitive executive pay program each year. Throughout this Compensation Discussion and Analysis, we refer to two distinct peer groups, as described below, which were recommended by FPC and approved by the Chair of the Compensation Committee in 2024.</div>

| ● | Competitor Peer Group. For 2024, this group consisted of 11 public REITs, which are either (1)                                         
 our competitors for industrial property acquisitions and tenants in the single-tenant industrial space or (2) owners of a portfolio of 
 primarily net-leased assets. The companies included in this peer group are as follows:                                                 |

| 32 |

| Broadstone Net Lease, Inc.         | EastGroup Properties, Inc. | Essential Properties Realty Trust, Inc. |
| First Industrial Realty Trust Inc. | Getty Realty Corp.         | NNN REIT, Inc.                          |
| Rexford Industrial Realty, Inc.    | STAG Industrial, Inc.      | Spirit Realty Capital, Inc.             |
| Terreno Realty Corporation         | W.P. Carey Inc.            |                                         |

<div align='center'>This competitor peer group helped the Compensation Committee understand how each named executive officer’s total compensation compares with the total compensation for reasonably similar positions at our most direct REIT competitors.</div>

| ● | Size Peer Group. For 2024, this group consisted of