Company: FR
Filing Date: 2025-08-21
Form Type: 424B5
Source: 0000921825-25-000095
Chunk: 10

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-08-21
Form: 424B5
Chunk 10
---
lease space as leases expire;

• increases in market interest rates, which may lead investors to demand a higher dividend yield;

• changes in market valuations of similar companies;

• adverse market reaction to our debt levels, upcoming debt maturities, refinancing plans or anticipated debt incurrences;

• our ability to comply with financial covenants under our unsecured line of credit and the indentures under which our senior unsecured indebtedness is, or may be, issued;

• additions or departures of key management personnel;

• actions by institutional stockholders;

• speculation in the media or investment community; and

• general market and economic conditions.

These factors, many of which are outside our control, could cause the market price of our common stock to decline significantly, regardless of our financial condition, results of operations and future prospects. We cannot provide any assurance that the market price

<div align='center'>S-4</div>

of our common stock will remain stable or not fall in the future, and it may be difficult for holders to resell shares of our common stock at prices they find attractive, or at all.

Our ability to issue preferred stock could adversely affect holders of our common stock.

Our charter authorizes the Company to issue up to 225,000,000 common shares and 10,000,000 shares of preferred stock. Subject to approval by our board of directors, the Company may issue preferred stock with rights, preferences and privileges that are more beneficial than those of our common stock. Holders of our common stock do not have preemptive rights to acquire shares issued in the future. If the Company ever issues preferred stock with a distribution preference over our common stock, funds available for the payment of distributions to our common stockholders and unitholders would be reduced. In addition, holders of preferred stock are normally entitled to receive a preference payment in the event of liquidation, dissolution or winding up, which would reduce the amount available to our common stockholders and unitholders. Furthermore, under certain circumstances, the issuance of preferred stock may delay or prevent a change in control of the Company, potentially limiting the ability of common stockholders to benefit from such a transaction.

Certain provisions of our charter and bylaws could hinder, delay or prevent a change in control of our company.

Certain provisions of our charter and our bylaws could have the effect of discouraging, delaying or preventing transactions that involve an actual or threatened change in control of our company. These provisions include the following:

• Removal of Directors. Under our charter,