Company: FR
Filing Date: 2025-10-17
Form Type: 10-Q
Source: 0000921825-25-000107
Chunk: 58

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-10-17
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 and Diluted EPS:Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders$0.49 $0.75 $1.27 $1.65 The computation of basic and diluted EPU of the Operating Partnership is presented below:Three Months Ended September 30, 2025Three Months Ended September 30, 2024Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024Numerator:Net Income Available to Unitholders$67,188 $101,864 $173,422 $224,606 Denominator (In Thousands):Weighted Average Units - Basic135,479 135,099 135,461 135,088 Effect of Dilutive Securities:Performance Units and certain Performance RLP Units(See Note 9)441 375 512 303 Weighted Average Units - Diluted135,920 135,474 135,973 135,391 Basic EPU:Net Income Available to Unitholders$0.50 $0.75 $1.28 $1.66 Diluted EPU:Net Income Available to Unitholders$0.49 $0.75 $1.28 $1.66 At September 30, 2025 and 2024, participating securities for the Company included 69,105 and 93,952, respectively, of Service Awards (see Note 9), which participate in non-forfeitable distributions. At September 30, 2025 and 2024, participating securities for the Operating Partnership included 189,493 and 261,246, respectively, of Service Awards and certain Performance Awards (see Note 9), which participate in non-forfeitable distributions. Under the two-class method, participating security holders are allocated income, in proportion to total weighted average shares or Units outstanding, based upon the greater of net income or common stock dividends or Unit distributions declared.

26

9. Long-Term Compensation  

Awards with Performance MeasuresDuring the nine months ended September 30, 2025, 37,435 performance units ("Performance Units") and 376,089 RLP Units ("Performance RLP Units" and, together with the Performance Units, collectively the "Performance Awards") were granted to certain employees based on performance-based criteria, which had a fair value of approximately $11,744 on the grant date as determined by a lattice-binomial option-pr